The banking sector plays an important role in promoting green and sustainable growth (Photo: VNA) Hanoi (VNS/VNA) – The banking sector plays a key role in “green” investment, including directing credit flow into environmentally-friendly sectors and restricting flow into projects which might have negative impacts on the environment. This was highlighted at a conference about developing green banking in Vietnam organised by the Banking Strategy Institute in Hanoi on November 8. The conference aimed to enhance awareness and corporate responsibility in the banking sector of environmental protection, responses to climate change and gradually making banking activities more ‘green’. Focus would be placed on directing credit flow into eco-friendly projects, boosting green production and services as well as clean and renewable energy so as to contribute to promoting green and sustainable growth. Deputy Director of the Banking Strategy Institute Pham Xuan Hoe said that as Vietnam faced a number of environmental problems, including climate change, natural disasters, drought, floods and pollution, the goal over the next two decades would not only be achieving rapid growth but also sustainable economic development. Hoe said to successfully implement the national green growth strategy in 2011-20, the banking sector played a very important role in promoting the transition towards sustainable growth though credit policies which target environmentally-friendly projects. The banking sector was the bridge connecting depositors and borrowers and also participated in project risk management, including environmental risks. At the same time, banking activity can also promote environmental protection through the application of e-banking… [Read full story]
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