Author
Ms Pham Thi Tue Minh
Organisation/Institution
Hanoi Law University
Country
VIETNAM
Panel
Banking and Finance
Title
TOWARDS SUSTAINABLE FINANCE IN ASIA: ESG REGULATION IN THE VIETNAMESE BANKING SECTOR
Abstract
As Asia accelerates its transition towards sustainable finance, Vietnam’s banking sector has become a key channel for embedding Environmental, Social, and Governance (ESG) considerations into financial intermediation. This paper offers a doctrinal and comparative analysis of the emerging legal and regulatory framework governing ESG in Vietnam’s banking system, with particular emphasis on the supervisory and standard-setting role of the State Bank of Vietnam. It traces the evolution, structure, and internal coherence of ESG-related laws, regulations, guidelines, and policy documents, and examines how these instruments shape core banking activities, including green credit allocation, risk management, disclosure, and prudential supervision. The study assesses the extent to which Vietnam’s framework aligns with leading international ESG reporting frameworks and standards, such as the Global Reporting Initiative (GRI), the Task Force on Climate-related Financial Disclosures (TCFD), and the Sustainability Accounting Standards Board (SASB), and benchmarks it against selected regulatory approaches in other Asian jurisdictions. On this basis, the paper identifies areas where legal guidance is relatively robust, alongside normative, institutional, and enforcement gaps that may hinder effective implementation and harmonization with global best practices. The findings generate policy insights to enhance legal clarity and coherence, strengthen supervisory capacity, and promote closer alignment with international standards, thereby enabling Vietnam’s banking sector to contribute more effectively to a sustainable and resilient financial ecosystem in Asia.
Biography
Pham Thi Tue Minh is a final-years student at Hanoi Law University, enrolled in the High-Quality Law Program. Her primary research interests lie at the intersection of Commercial Law, Technology Law, and Personal Data Protection. During her undergraduate studies, she was honored with a University-level Research Award and has authored several articles published in prestigious domestic journals. Alongside her academic achievements, she has also completed an internship at a law firm dedicated to personal data protection, further bridging the gap between legal theory and practice
