FiinRatings Announces External Review of the Allocation of Proceeds and Impact Report on BIDV’s Green Deposit Program

FiinRatings is pleased to announce the external review of the Allocation of Proceeds and Impact Report of the 2024 Green Deposit Program of the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV).

FiinRatings confirms that the Allocation and Environmental Impact Report of BIDV’s Green Deposit Programme is fully aligned with the eligible green project criteria under BIDV’s Green Bond Framework (issued in October 2023) and the ICMA Green Bond Principles 2021 (including Appendix 1, June 2022) with respect to the use of proceeds. The assessment covers the period from the completion of the first Green Deposit tranche in 2024 to 30 September 2024.

Key findings include:

• Allocation of approximately VND 4,861 billion in Green Deposit proceeds to eligible projects in renewable energy and green buildings, in line with BIDV’s climate change mitigation and pollution control objectives.
• As of the allocation cut-off date (30 September 2024), the refinancing ratio reached 86.3%, while 7.7% of proceeds remained unallocated, held as deposits pending allocation to eligible projects.
• Robust governance processes are in place for project evaluation and selection, credit appraisal, and proceeds of management, ensuring alignment with the disclosed green criteria.
• The Impact Report iprovides clear project information and transparent assessment methodologies, enhancing disclosure quality and the traceability of the Programme’s environmental impacts.

👉 The full External Review Report is available: HERE

-------------------

FiinRatings' Sustainable Finance Specialist Team can help with below offerings:
▪️ Second Party Opinions on Green Bonds and Green Loans
▪️ Green Bond Verifications
▪️ ESG Assessment
▪️ Sustainable Finance Advisory

Contact FiinRatings today for consultation:
📩 Email: support.fiinratings@fiingroup.vn
📞 Tel: (+84-24) 3562 6962