FiinRatings Partners with VietinBank and Aquila to Implement Sustainability-Linked Loan Structures, Enhancing ESG Transparency and Credibility

Hanoi, January 30, 2026 – VietinBank has officially partnered with FiinRatingsandAquila Vietnam Technology Co., Ltd. to implement a Sustainability-Linked Loan (SLL) program. The initiative focuses on credit structures in which the cost of capital is directly linked to ESG performance that is measurable and subject to independent assessment. This represents a step toward enhancing the quality of credit products and supporting the development of a green financial system in Vietnam.

As sustainable development becomes an inevitable trend, the key challenge lies not only in expanding green credit, but also in ensuring that sustainability targets are implemented in a substantive manner and aligned with corporate operating performance. Sustainability-Linked Loans (SLLs) address this requirement by allowing financing costs to directly reflect improvements in ESG performance, thereby creating clear financial incentives for companies to proactively deliver on their sustainability commitments.

Within the implementation framework, VietinBank acts as the lead bank, working directly with clients to structure the loans and select appropriate Key Performance Indicators (KPIs) and Sustainability Performance Targets (SPTs) aligned with each company’s operational characteristics.

In parallel, Aquila provides technology solutions, data infrastructure, and advisory services related to emissions management, resource efficiency, and the implementation of sustainable development initiatives. FiinRatings participates as an independent assessment provider, responsible for the design, validation, and assessment of KPIs and SPTs, as well as the provision of independent verification services. This ensures that sustainability targets are appropriately designed, feasible, and aligned with international market practices for SLL structures.

Through this cooperative model, borrowing companies not only gain access to credit facilities with cost-of-capital incentives, but also have the opportunity to establish a clear ESG roadmap, monitor implementation progress, and progressively enhance their sustainable governance capabilities in a systematic and transparent manner.

Mr. Nguyen Quang Thuan, Executive Chairman of FiinRatings, stated: “Sustainable finance can only create real value when ESG targets are clearly defined, consistently monitored, and independently assessed. Within the cooperation with VietinBank and Aquila, FiinRatings focuses on the independent evaluation and verification of KPIs and SPTs, ensuring that companies’ sustainability commitments are substantive and credible. This approach helps strengthen market confidence, reduce greenwashing risks, and encourage the wider use of sustainability-linked debt instruments by companies seeking to transition from conventional business operations, even when financing is not linked to a specific asset or project.”

The combination of VietinBank’s financial and banking capabilities, Aquila’s technological strengths, and FiinRatings’ independent assessment role and ESG expertise reflects a shared commitment to embedding sustainable finance as a substantive component of credit activities. On this basis, the Parties will continue to collaborate on initiatives aimed at enhancing transparency, credibility, and the long-term value of Vietnam’s sustainable finance market.

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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