FiinGroup and VASB join hands to support Vietnamese public companies in sustainable development with ESG standards and practices

[Hanoi, 24 March 2023] – on the occasion of the 20th anniversary of the Vietnam Association of Securities Business (VASB), Viet Nam FiinGroup JSC and VASB officially signed a Partnership Agreement, promoting the application of Environmental - Social - Corporate Governance (ESG) standards and practices in Vietnam.

 

[Hanoi, 24 March 2023] – on the occasion of the 20th anniversary of the Vietnam Association of Securities Business (VASB), Viet Nam FiinGroup JSC and VASB officially signed a Partnership Agreement, promoting the application of Environmental - Social - Corporate Governance (ESG) standards and practices in Vietnam.

Specifically, the two parties will cooperate to implement the ESG Scoring Programme for Vietnamese Public Companies and help connect them to partners in capital market, credit market and commercial trade partners. Besides, both parties will remain in mutual collaboration throughout the policy advocacy pertaining to ESG, as well as facilitating the meaning and significance of ESG adoption within the context of Vietnam.

The ESG Scoring will be implemented on the basis of voluntary participation from enterprises, bringing real values in trades and in the capital market. The pilot programme will start from July 2023 and expected to complete by early 2024 for a sizeable number of companies in key sectors of Vietnam.

Methodology framework is based on the global corporate sustainability framework and criteria are tailored made for different sectors and sub-sectors with certain modifications in the context of regulatory requirements and business environment in Vietnam. The methodology and criteria will be made available for comments from VASB’s members, local and international ESG experts and from the related government agencies.

The MOU signing ceremony has been made with the witness by The Minister of Finance, The Vice Minister of Justice, The Chairperson of State Securities Commission of Vietnam and the leader and members of VASB.

Also in this event, Mr. Nguyen Quang Thuan, Chairman of FiinGroup and FiinRatings introduced the program ESG Scoring for Vietnamese Public Companies and emphasized the need for a Common ESG Framework and Standards for Vietnam. FiinGroup’s chairman also shared experience in their credit scorings to support Vietnamese SMEs and their work with Vietnamese companies in getting green bonds certification under the Climate Bonds Initiative’s standard for their financing strategy and green bond issuance onshore and offshore.

Please find more details in Mr. Nguyen Quang Thuan’s full presentation HERE.

About FiinGroup

FiinGroup is Vietnam’s leading provider of financial data analytics platforms, business intelligence and industry research service to local and foreign investors in capital market and corporates to grow their business in Vietnam. For more information, please visit: https://www.fiingroup.vn

FiinRatings Joint Stock Company, a member of FiinGroup and a technical collaboration partner with S&P Global Ratings, is a local licensed Credit Rating Agency in Vietnam. FiinRatings provides credit ratings and related services to issuers, creditors and investors in Vietnam credit market. FiinRatings is also Vietnam first green bonds approved verifier, in accordance with the green bond international standard by the Climate Bonds Initiative. For more information, please visit: https://www.fiinratings.vn

About VASB

VASB is a socio-professional association consisting of members who are securities companies, fund management companies, custodian banks, and nominated banks in Vietnam. Having operated for more than 20 years, VASB has successfully established and maintained regular relationships amongst its members, as well as with regulators, with the purpose of strengthen the protection of its members' legitimate right and interests, and facilitating a conducive environment for their operations. This has resulted in a thriving and equitable stock market, where fair competition prevails. For more information, please visit: http://www.vasb.vn/Home/

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