The PAN Group and Standard Chartered Vietnam collaborate to implement ESG financial solutions and services at COP28

Within the framework of the World Climate Action Summit at COP28 held in the UAE, The PAN Group and Standard Chartered Vietnam proceeded to sign a MoU, to collaborate on the implementation of ESG financial solutions and services.

Accordingly, Standard Chartered Vietnam supports PAN in accessing financial solutions and services based on ESG factors to meet the investment needs in the Group's sustainable development projects.

In addition to green credits and/or sustainable-linked loans, the programme also provides funding for initiatives including developing cashew nut production lines, promoting value-added aquaculture products, and increasing rice farmers’ income.

In light of this, the projects included in the programme need to meet specific criteria and adhere to Standard Chartered Vietnam's sustainable finance framework, as well as the principles of green lending or green bonds.

This collaborative effort presents mutually beneficial opportunities. Specifically, The PAN Group can expand its financial options for the Group's development projects and subsidiaries through ESG-related solutions. Likewise, by collaborating with PAN on ESG financial solutions, Standard Chartered Vietnam can support PAN’s line-up of green projects. This, in turn will help Vietnamese businesses gain access to the green finance market, which reinforces the government's strong commitment to sustainable development goals, emission reduction, and carbon neutrality.

This partnership took place within the framework of the World Climate Action Summit at the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28), witnessed by Prime Minister Pham Minh Chinh along with representatives from Vietnam.

With the participation of over 130 heads of state from various countries to discuss and seek long-term solutions in response to climate change, COP28 is regarded as the most important multilateral conference on climate change this year.

It is also anticipated to be the most comprehensive COP meeting, fostering collaboration and dialogue among regions worldwide to identify viable and practical resolutions to the climate crisis.

For its part, since Vietnam's announcement at COP26 (in 2021) of its commitment to reach net-zero emissions by 2050, the Vietnamese government, along with its ministries, sectors, and localities, has taken bold and specific efforts to achieve this goal.