From Green Labels to Long-Term Capital: Four Pillars for Scaling Green Finance

At the 31st Asia Securities Forum Annual General Meeting (ASF AGM 2026) in Hanoi, Mr. Nguyen Quang Thuan, Executive Chairman of FiinGroup and FiinRatings, shared his perspectives on harmonizing ESG standards, expanding green financial products, and the conditions needed to unlock capital flows for sustainable development.

The conference brought together Deputy Prime Minister Nguyen Van Thang, alongside representatives from regulatory authorities, financial institutions, securities associations, and market participants from Vietnam and abroad.

One of Mr. Thuan's key messages was that as the sustainable finance market continues to develop, labeling a project or financial instrument as "green" is only the starting point. For green commitments to build trust and broaden access to capital, four mutually reinforcing pillars need to be in place:

🔹 Policy harmonization: Map and promote mutual recognition between Vietnam's Green Taxonomy and international principles and taxonomies, including ICMA, CBI, and the ASEAN Taxonomy. This would enable international investors to assess and price Vietnamese issuers without having to repeat the entire due diligence process on green definitions and eligibility criteria.

🔹 Credible disclosure: Transition targets and plans need to be credible and science-based, with measurable targets and clear timelines, supported by consistent monitoring and disclosure.

🔹 Trusted verification: Green and transition commitments should be assessed by independent third parties through Second Party Opinions (SPOs) or other appropriate forms of independent assurance, helping strengthen credibility and mitigate greenwashing risk.

🔹 Capital mobilization: Credible standards, transparent disclosure, and independent review need to translate into bankable funding structures that can attract long-term capital and meet the financing needs of green projects.

🔹 Improving access to capital: Clear standards, transparent disclosure, and independent verification help strengthen investor confidence and broaden access to long-term capital for green projects.

FiinRatings’ practical experience in providing independent reviews for 50% of green bond issuances during 2024–2025 shows that a number of transactions successfully raised capital with tenors of 7–20 years and reasonable interest rates aligned with the cash-flow profiles of the underlying projects. This demonstrates how sustainable finance commitments can be progressively translated into viable funding structures in practice.

Building on this experience, FiinRatings continues to strengthen the credibility of sustainable finance instruments through independent assessment and verification services, helping businesses connect with investors and access long-term capital.

💎 Explore FiinRatings' insights from ASF AGM 2026 here

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