BIDV – The first commercial bank in Vietnam accredited by the Green Climate Fund (GCF)
On October 28, 2025, BIDV was officially accredited by the Green Climate Fund (GCF) as its Accredited Entity (AE). Notably, BIDV is the first joint-stock commercial bank in Vietnam to be recognized by the GCF as a partner to channel concessional resources to climate projects in Vietnam.
BIDV began the accreditation process in 2023. Over the past two years, BIDV has completed extensive capacity assessments and participated in bilateral meetings with GCF through key international events such as the GCF Asia-Pacific Regional Dialogue (2023), COP28 in Dubai (2023), and the P4G Summit in Hanoi (2024). GCF also conducted a comprehensive due diligence mission evaluating BIDV’s governance and sustainable finance capacity. Through these rigorous assessments, BIDV not only demonstrated strong institutional governance and risk management capacity but also reaffirmed the commitment to climate finance, meeting GCF’s stringent accreditation standards. At the 43rd Board Meeting of the Green Climate Fund, BIDV was officially accredited as an AE of GCF.
Ms. Achala Abeysinghe, Director of the Division of Country Programming, GCF, stated:
We are pleased to welcome the Joint Stock Commercial Bank for Investment and Development of Vietnam as an Accredited Entity of the Green Climate Fund. This new partnership strengthens GCF's commitment to working with national development banks and creates opportunities to expand access to climate finance in Vietnam.
Ms. Achala Abeysinghe – Director of Investment Services, GCF
As a leading bank in promoting sustainable growth, BIDV has identified green growth as one of the three pillars of the bank's "LARGE, STRONG, GREEN" development strategy. The green transformation strategy focuses on three pillars, reflecting the role of a leading financial institution in Vietnam:
- Playing a pivotal role in mobilizing and providing capital for green transformation and driving national green transition;
- Leading greening efforts, promoting energy and resource efficiency, and reducing internal carbon emissions;
- Supporting clients and partners in their green transition.
Through the mobilization of concessional green financing from GCF, BIDV will be able to extend preferential loans to projects that contribute to emissions mitigation and climate adaptation. This milestone marks a promising new chapter in BIDV’s sustainable finance journey—one that will enable the bank to expand the application of international Environmental, Social, and Governance (ESG) standards and play a pivotal role in advancing Vietnam’s green growth and sustainable development goals.
Mr. Le Ngoc Lam, Chief Executive Officer of BIDV, stated:
Becoming an Accredited Entity of the Green Climate Fund marks an important milestone in BIDV’s sustainable development journey. As an AE of the GCF, BIDV will gain access to concessional resources to finance renewable energy projects, enhance climate resilience, and promote green innovation in Vietnam – contributing to a just transition across industries and improving the livelihoods of vulnerable communities.
BIDV General Director - Le Ngoc Lam
BIDV’s ongoing efforts in sustainable and green finance have already produced remarkable results. As of September 30, 2025, BIDV’s green credit portfolio reached over VND 81 trillion, supporting 1,623 clients and 2,143 projects/business plans, accounting for 3.7% of the bank’s total outstanding loans. These achievements underscore BIDV’s strong commitment to sustainable finance and highlight its leading position in developing a dynamic and effective green finance ecosystem in Vietnam. With the largest green credit market share in Vietnam, BIDV possesses the capacity and determination to effectively contribute to the realization of the GCF’s mission and climate objectives in Vietnam.
Green Climate Fund (GCF)
The Green Climate Fund (GCF) – a critical element of the historic Paris Agreement - is the world’s largest climate fund, mandated to support developing countries raise and realize their Nationally Determined Contributions (NDC) ambitions towards low-emissions, climate-resilient pathways. The fund has received total pledges of USD 30 billion from 51 contributors, including a USD 1 million pledge from Vietnam at COP21 (2015) with the actual payment of the pledge made in 2020.
GCF implements its activities through cooperation with a diverse network of Accredited Entities, including government agencies, multilateral organizations such as World Bank, IFC, UNDP, ADB, EIB, AFD, etc. and financial institutions such as HSBC, Deutsche Bank, KDB, MUFG, SMBC, etc.
