TPBank reimagines each step of its green transformation as a "human-centered" digital bank

The Sustainable Development Report (SDR) vividly illustrates the entire journey of green transformation at TPBank (Tien Phong Commercial Joint Stock Bank - TPBank, ticker: TPB) through tangible actions, proud achievements, and strong commitments on its path to comprehensive and persistent ESG (Environmental, Social, and Governance) practices.

This is the first year that TPBank has published a report on its sustainable development achievements. The SDR of TPBank is constructed with reference to the Global Reporting Initiative (GRI) Standards 2021; the Task Force on Climate-related Financial Disclosures (TCFD) of the Financial Stability Board (FSB); and the Environmental & Social Disclosure Guidelines developed by the State Securities Commission in collaboration with the International Finance Corporation (IFC). Additionally, the report showcases the bank's strategic contributions to realizing the 17 UN Sustainable Development Goals (SDGs) by 2030.

Sharing about TPBank's sustainable development strategy, a bank representative stated: “In addition to our commitment to bring optimal value to customers, shareholders, and create the best conditions for the development of our employees, TPBank always upholds the mission of being a 'human-centered bank' — developing for people and contributing to national prosperity as our guiding principle. On its path to growth, TPBank remains steadfast in pursuing a sustainable development strategy with a modern, pioneering, and decisive spirit, aiming for achievements that are distinctly green, transparent, and effective.”

TPBank Deeply Integrates ESG into Its Operations

Since 2023, TPBank has begun to establish and implement a comprehensive ESG governance framework, while continuing to enhance its Environmental and Social Management System (ESMS) according to international standards.

The bank deeply integrates ESG factors into its strategy development, decision-making, and execution to maximize benefits for all stakeholders. TPBank is actively implementing a series of ESG initiatives, such as reducing carbon emissions by digitalizing over 90% of banking transactions, developing a digital banking ecosystem, and supporting customers and partners in their green transformation.

In terms of social commitments, TPBank continually strives to improve financial service accessibility for the community, especially for low-income individuals, vulnerable groups, and small and medium-sized enterprises (SMEs). The bank has been honored with the title of "Best Trade Partner Bank - Gender Equality Finance 2024" by the IFC, recognized for its leadership in supporting SMEs by the Asian Development Bank (ADB), and ranked at the top of The Asian Banker’s list of strong banks in Vietnam.

Sustainable Development is a Top Priority in the Long-Term Plan

From now until 2028, TPBank continues to accelerate its unique growth formula: Understanding customers - Creating experiences - Leading technology, while remaining steadfast in its ESG objectives to accompany the development of the community and society.

Environment: TPBank pioneers green credit and renewable energy financing to promote a low-carbon economy, while optimizing digital banking operations to reduce carbon emissions and developing an environmentally friendly transaction network.

Social: The bank promotes financial inclusion, enhancing access to financial services for people, maintaining responsible investment, and focusing on building a highly skilled workforce that is also socially responsible.

Governance: TPBank ensures transparency, enhances effectiveness, and implements comprehensive risk management according to international standards, with a focus on developing financial technologies and applying digital technologies that align with Vietnam's green growth strategy. The digital and sustainable future for citizens, businesses, and the country is a major driving force for TPBank to continue its journey of innovation, constant renewal, and improving competitiveness, bringing long-term value to shareholders, customers, and investors.

TPBank recognizes that the practice and integration of ESG factors not only benefits the environment and society but also enhances operational efficiency and long-term sustainable development. Therefore, the bank has set sustainable development as one of its top priorities and long-term plans, with ESG practices being the most practical tool that TPBank has been implementing to achieve its sustainable development goals, thus contributing to the common prosperity of the nation.

For details on TPBank's 2023 Sustainable Development Report, please see HERE.