MSB: Pioneering marks on the journey of sustainable development

(Dan Tri) - In the context of sustainable development becoming an inevitable requirement of the global economy, Maritime Bank (MSB) is pioneering the integration of environmental, social and governance (ESG) factors into its business strategy.

Independent sustainability reporting enhances transparency in governance

MSB's mark is clearly demonstrated through the publication of a Sustainable Development Report independent of the Annual Report.

2024 is the third consecutive year that the bank has conducted this report according to the standards of the Global Reporting Initiative and assessed its performance against the United Nations Sustainable Development Goals.

Regarding governance, the 2024 Report has been upgraded with additional information on the governance structure of sustainable development issues at the bank. MSB continues to promote compliance and transparency activities; synchronously and effectively implement risk management projects, investment banking with a long-term vision, ensuring that the customer journey and internal processes are digitized safely and securely.

In terms of environmental impact, MSB recorded a 72% reduction in printed paper in 2024; electricity and water consumption decreased by 25% and 9%, respectively, compared to the previous year.

In the green credit sector, MSB's total outstanding loans reached VND5,165 billion. The bank also applies an internal green sector classification system to appraise, develop products and control environmental risks in the credit granting process.

In terms of society, MSB maintains a comprehensive and equitable human resource development orientation, focusing on diversity in the organization with the proportion of women accounting for 53.37% in the management board and 63.41% of the total number of staff. In addition, all employees participate in training courses during the year, with an average of 126 to 136 hours/person depending on the level.

MSB also focuses on social security activities, especially in the areas where MSB is present, through sponsoring 17 billion VND for school construction activities, giving scholarships, and sponsoring facilities for disadvantaged localities.

MSB staff awarded scholarships to students in difficult circumstances (Photo: MSB).

MSB staff (Photo: MSB).

Pioneering carbon emissions measurement to proactively control emissions

MSB emission ranges (Photo: MSB).

MSB is one of the first banks in Vietnam to implement measurement and promote carbon emission control from banking activities.

In order to measure emissions from all operations, especially from the loan portfolio, MSB has cooperated with S&P Global - Sustainable 1 to collect data and calculate emissions for 3 scopes including emissions from upstream (supply chain and service providers) and downstream (loan portfolio, investment) according to GHG Protocol standards and PCAF method, referring to TCFD reporting guidelines.

In terms of specific figures, from 2022 to 2024, MSB actively implemented solutions to reduce total emissions, accordingly, scope 1 and 2 emissions decreased by an average of 23.3%/year while the number of employees increased by about 6%.

For Scope 3 emissions, MSB has estimated and disclosed emissions from its corporate customer loan portfolio by GICs sub-sector. Specifically, 58.2% of MSB's total outstanding loans in 2024 are estimated to emit and account for over 99% of the bank's total emissions.

This estimate is the basis for the bank to develop a strategy and develop an emissions reduction roadmap in line with MSB's carbon emissions commitments to the Vietnamese Government and international organizations and alliances.

In addition, with support from consulting partner S&P Global Sustainability 1, the bank conducted its first physical risk assessment for 104 key operating points in the network system to improve operational risk management and optimize business efficiency.

Joining IFC's Green Commercial Banking Alliance, strengthening green finance commitment

Mr. Vo Tan Long - Chairman of MSB Sustainable Development Committee (4th from left, back row) at the launching event of the Green Commercial Banking Alliance in Hong Kong, China (Photo: Organizing Committee)

An important milestone in MSB's green development strategy is becoming one of the first Vietnamese members of the Alliance for Green Commercial Banks - an initiative launched by the International Finance Corporation (IFC).

The alliance brings together 20 leading commercial banks in the Asia- Pacific region with total assets under management of more than 5,600 billion USD. Joining the Alliance demonstrates MSB's strong commitment to promoting Vietnam's green transformation process, through integrating international standards on green finance into the bank's strategy and operating model.

With the participation of these alliance members, MSB will have access to international technology resources, experience and expertise as well as financial tools to support the process of evaluating, appraising and implementing green projects in Vietnam.

MSB's direction is contributing to creating long-term competitive advantages, promoting prosperous development and greening the Vietnamese economy .

Source: https://dantri.com.vn/kinh-doanh/msb-nhung-dau-an-tien-phong-tren-hanh-trinh-phat-trien-ben-vung-20251016175840706.htm