Standard Chartered ‘fervent supporter’ of Vietnam’s net zero ambitions: CEO

Standard Chartered is a fervent supporter and aligned with the Vietnamese government’s ambitions to go net zero by 2050, said Michele Wee, CEO Standard Chartered Vietnam, as the bank celebrates the 120th anniversary of its presence in the country.

Being a partner with the Vietnamese government since COP26, the bank and all-encompassing stakeholder groups from the government to the private sector have been executing the different verticals of work under the Just Energy Transition Partnership (JETP) to deliver on collective ambitions to reach net-zero emissions by 2050.

On the sidelines of the 28th United Nations Climate Change Conference (COP28) in Dubai in December, Standard Chartered Vietnam signed five memorandums of understanding valued at approximately $3 billion in sustainable financing to support five companies in Vietnam in achieving their sustainability goals.

Among them, the bank partnered with Sovico Group on wind power and green projects; The Green Solutions Corporation on green hydrogen production plant in Tra Vinh province; and GuarantCo, a part of Private Infrastructure Development Group, on financing climate change and the energy transition.

With 120 years in Vietnam, Standard Chartered leverages and utilizes its significant network to deliver FDI to Vietnam and to facilitate Vietnamese clients who want to expand into global markets to pursue growth ambition, the bank affirmed.

“Vietnam remains a key growth market for Standard Chartered, and we will continue to invest in Vietnam to drive commerce and prosperity,” asserted Michele Wee.