BIDV becomes first Vietnamese bank to join global carbon accounting alliance

VIETNAM: NEW ERA

BIDV becomes first Vietnamese bank to join global carbon accounting alliance
Through the alliance, BIDV will gain access to international methodologies, technical guidance and updated emissions factors covering multiple countries and economic sectors.
The BIDV Tower in Hanoi (Photo: BIDV)

Hanoi (VNS/VNA) - The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has become the first Vietnamese bank to join the Partnership for Carbon Accounting Financials (PCAF), strengthening its capacity to measure and manage greenhouse gas emissions linked to its financing activities.

The lender said membership of the global initiative would help it adopt internationally recognised methodologies for measuring financed emissions, improve emissions data quality and support its transition finance strategy.

As climate change increasingly affects economies worldwide, financial institutions are under growing pressure to assess and reduce emissions associated with their lending and investment portfolios, known as financed emissions.

Citing data from the World Resources Institute, BIDV said financed emissions account for nearly all of a bank's total greenhouse gas emissions, making their measurement a key step in developing credible decarbonisation pathways and sustainability strategies.

PCAF is a global alliance of more than 750 financial institutions that jointly develops and applies standardised methods for measuring and disclosing financed emissions. Its accounting standard aims to improve transparency, consistency and comparability across the financial sector.

Through the alliance, BIDV will gain access to international methodologies, technical guidance and updated emissions factors covering multiple countries and economic sectors. It will also apply PCAF's standardised framework to improve the consistency and reliability of its emissions data.

The bank said it would gradually strengthen its emissions data infrastructure and accounting system to support a roadmap for reducing financed emissions in line with the characteristics of its portfolio and long-term development strategy.

BIDV also plans to further enhance climate risk management while expanding green finance and transition finance products to support customers shifting towards more sustainable business models.

The bank said joining PCAF underscores its commitment to advancing green finance and contributing to Vietnam's goal of achieving net zero emissions by 2050./.

See Also

Around 7,000 athletes to compete at Sports Festival 2026

This year's festival will feature 12 sports, introducing several new events such as national youth triathlon and beach tennis championship, while expanding its international scope by bringing together clubs, athletes, and police forces from ASEAN countries for events such as the ASEAN Police Open Golf Tournament 2026.

Ly Son Special Zone experiences tourism boom

The Ly Son Special Zone in the central province of Quang Ngai is enjoying an unprecedented tourism boom, attracting more domestic and foreign visitors than ever before. Since the beginning of the year, the island has welcomed around 120,000 tourists, far surpassing the expectations of both local residents and authorities.

Vietnam–Greece ties still hold considerable untapped potential: PM

PM Le Minh Hung recommended that the two sides step up all-level exchanges and meetings, especially those at high level, make full use of the existing cooperation mechanisms, expand collaboration in the economy, trade and investment, and effectively implement the EU–Vietnam Free Trade Agreement (EVFTA).

PM orders faster implementation of science, technology, digital transformation agenda

Under Directive No. 29/CT-TTg, the Prime Minister instructed ministers, heads of ministerial-level agencies and provincial and municipal leaders to treat science, technology, innovation and digital transformation as a top political priority, stressing that faster disbursement must go hand in hand with efficiency, transparency and the prevention of waste and corruption.

Science – technology, innovation central to Vietnam’s development strategy

As localities nationwide race to realise the Politburo's Resolution No. 57-NQ/TW on breakthroughs in science – technology development, innovation, and national digital transformation, many are fast-tracking action plans, deploying new technologies, and forming novel growth models. But the rollout is exposing the need for further institutional reform, financing mechanisms, and infrastructure to unlock resources for sustainable development.

Vietnam's economy grows 8.18% in first half of 2026

Despite persistent global economic uncertainty and downward revisions to the global growth outlook for 2026 by international organisations, Vietnam's economy delivered a strong performance. GDP expanded 8.18% in the first half of 2026, outperforming the same period last year and laying a solid foundation for achieving double-digit growth for the full year.

Vietnamese peacekeepers help rebuild school in Abyei

Vietnam's Engineering Company Rotation 4, serving with the United Nations Interim Security Force for Abyei, has renovated Minyang Primary School, improving learning conditions for children in the Abyei region. The handover ceremony was attended by representatives from Vietnam's Ministry of National Defence, the United Nations Interim Security Force for Abyei and the Abyei Administration.