Driving partnerships and sustainable finance in Vietnam

Nguyen Thuy Hanh

Standard Chartered’s Sus­tainable Account is designed to help our corporate clients embed sustain­ability into their cash management practices. It provides organisations with an opportunity to participate in sustainable development by having their surplus cash referenced against Standard Chartered’s sustainable loans and projects.

Through the Sustainable Account, each transaction is no longer just the movement of funds, but becomes a step forward in the company’s jour­ney to net-zero.

Nearly 80 per cent of the assets where the cash in a Standard Char­tered Sustainable Account is refer­enced against are in Asia, Africa, and the Middle East. This includes a number of assets in Vietnam.

In the case of Goertek, they have transformed their internal finan­cial system into a tool for executing their ESG strategy, which involves their factories in Vietnam to partners worldwide.

Vietnam is emerging as a pivotal launchpad for sustainable finance in the wider region. We are already deeply engaged with Viet­nam’s green transition through initia­tives like the Just Energy Transition Partnership, and we are committed to supporting further sustainable growth through the bank’s extensive suite of relevant finance products and adviso­ry services.

Eric Zhang

We highly recognise Stan­dard Chartered’s business advantages.

In emerging markets and the profes­sional capabilities it has demonstrat­ed in the cross-border finance sector.

Standard Chartered’s experience in supporting their clients, such as their role in the development of an international financial centre in Viet­nam, demonstrates their business capabilities and localisation advan­tages, which we required as an im­portant factor to support Goertek’s development.

Standard Chartered’s heightened awareness and expertise in ESG is also one of the reasons why Goertek Vietnam has chosen to cooperate with the bank.

We have seen that Standard Chartered has set a clear vision and ambition to mobilise sustainable fi­nance, especially in terms of carbon emissions, and has disclosed detailed action measures in its Sustainable Fi­nance Impact Report, which has res­onated strongly with us.

Furthermore, Standard Chartered also believes in cooperating with both clients and partners to promote a more inclusive approach to sustain­able finance, which will contribute to achieving Vietnam’s 2050 net-zero emission targets.

As a partner of Standard Char­tered, Goertek is keen to gather valuable experience in the process of supporting Vietnam’s sustainable development projects, which will in turn lay a foundation for the achieve­ment of our own ESG goals.

Nguyen Thuy Hanh

The adoption of the Sus­tainable Account demonstrates Go­ertek’s commitment to sustainability to its stakeholders. We expect to see more suppliers and partners across the ecosystem align with ESG stan­dards, especially when adoption is driven top-down.

Eric Zhang

We are driven by our goal to continuously strengthen our ESG performance. Guided by the priorities of both internal and exter­nal stakeholders while also being aligned with the company’s business strategy, we have identified import­ant focus areas that will maximise positive outcomes for both our busi­ness and ESG strategies.

For each key focus area, we have implemented a closed-loop management approach covering de­velopment plans, goals, and action pathways, as well as indicator track­ing, and will continue to refine and enhance outcomes based on existing strategic plans.

As we look to enhance our ESG performance, we remain committed to generating and sharing value with stakeholders, while strengthening the company’s competitive advantages.

Nguyen Thuy Hanh

The Sustainable Account delivers a distinctive value proposi­tion to clients by combining flexibility, transparency, and a strong commitment to sustainability. It offers flexibility by allowing clients to enjoy the benefits of a current account, maintaining access to dai­ly cash for intraday liquidity needs without locking funds as compared to a time deposit.

At the same time, clients can use their short-term surplus cash to sup­port the UN’s Sustainable Develop­ment Goals, thereby aligning their liquidity management with global sustainability efforts.

Transparency is ensured through the alignment of referenced loans and projects with Standard Chartered’s Green and Sustainable Framework, which is independently assessed by Sustainalytics. The Bank’s sustainable assets are assured by a third party annually to ensure that they align with the framework.

Eric Zhang

We measure progress through goal-setting and metric tracking. Using the example of sustainable supply chains, we have incorporated ESG considerations into both suppli­er onboarding and post-onboarding management. We evaluate suppli­ers’ environmental and social risks as well as their green environmental management systems through written reviews and on-site audits on an an­nual basis.

The evaluation criteria include employee rights, health and safety, environmental protection, and busi­ness ethics. After the evaluation, we follow up with suppliers for them to submit improvement plans, and ul­timately review and verify rectifica­tion outcomes to achieve closed-loop management.

In the context of sustainable sup­ply chains, we continuously practice and promote the realisation of car­bon emission reduction management in the supply chain through supplier training and on-site reviews.

n relation to responsible mining, Goertek conducts supply chain due diligence to ensure that smelters or refiners are included in the RMAP (Responsible Minerals Assurance Process) list. Suppliers who have not obtained the necessary certifica­tion and those who fail to complete rectification requirements within the specified period are removed from the supplier pool.

To drive carbon emission reduc­tion and energy management, Go­ertek has established its carbon emis­sion and energy management goals which include a short-term goal for 2025-2026 and a long-term goal for 2030-2050.

Goertek also pays close attention to industry trends in sustainable ma­terials and actively implements them in its operations. Some of the sustain­able materials and practices which are implemented in raw product ma­terials include recycled aluminium, injection-molded particles, and re­duction of plastic packaging.

All these measures are a demon­stration of how we are committed to driving progress and advancing our ESG journey.