Techcombank is dedicated to leading the way in Environmental, Social, and Governance (ESG) initiatives by incorporating ESG principles into its core business strategy and operations, according to Ms. Thai Minh Diem Tu, chief marketing officer of Techcombank, in a recent interview.
Let me know if you’d like further adjustments! How important is ESG in Vietnam and specifically to Techcombank?
Techcombank was founded 31 years ago with charter capital of only VND20 billion and has since grown to become one of the leading private banks in Vietnam. Throughout the bank’s journey we have always tried to be an enabler of the country’s economic growth and development and to achieve success together with the Vietnamese people. Our goal – to be an enabler of Vietnam – is reflected in Techcombank’s brand promise to always ‘Be Greater’.
The Vietnamese people have a strong aspirational spirit, which means we are constantly striving to be greater and to achieve success on our own terms. This spirit has seen Vietnam’s GDP grow over the last 30 years from around US$13 billion to US$430 billion, as millions of Vietnamese achieved their own success.
Techcombank is proud to have been a partner to Vietnam’s growth over the past 30 years, providing financial products and services that have helped to empower the Vietnamese people. As Vietnam’s economy has grown and people have become wealthier, sustainability has become increasingly important and the term ESG has gained prominence.
Today, Techcombank is committed to taking the lead on ESG and is embedding ESG factors into the heart of our business strategy and operations. We recognise that for Techcombank to continue to grow and succeed for another 30 years we must do so sustainably and help to protect the nation’s environment and make a positive contribution to society. We have begun our long-term ESG journey with the aim to be a pioneer of sustainability in Vietnam’s banking industry.
Techcombank is the strategic partner for the HCMC marathon, can you elaborate on why the bank supports this event?
The 7th edition of the Techcombank Ho Chi Minh City (HCMC) International Marathon was held over the weekend of 6th-8th December and was the best yet! Techcombank has been the strategic partner of the marathon for the past seven years because it is a fantastic event that enable the bank to uplift Vietnam and the community in HCMC. Through our support for the marathon, we are helping to showcase Vietnam’s vibrancy to the world, provide an economic boost to the city, and give something back to the community through mass participation in the event and by promoting healthy styles.
The 7th edition of the Techcombank Ho Chi Minh City International Marathon saw 18,000 runners from all Vietnamese provinces and many different countries take part in the various races. Mass participation sports, like the Ho Chi Minh City Marathon, aligns with Techcombank’s ‘Be Greater’ promise by enabling the community to come together to conquer a new challenge and achieve success. That so many runners came out to take part shows the aspirational spirit of the Vietnamese people to achieve their own personal greatness.
How does Techcombank integrate mass participation sports into its wider ESG approach?
Techcombank’s strategic partnership with the Ho Chi Minh City International marathon is part of our wider “Run for a Greater Vietnam” initiative that also includes support for the Hanoi marathon. We recognise the positive impact mass participation sporting events can have in terms of engaging with the community, uplifting the economy and linking Techcombank’s brand with achievement and the aspirational spirit of the Vietnamese people.
Our support for the HCMC and Hanoi marathons is a key element of Techcombank’s ESG approach and particularly to the “S” – making a positive social contribution. In 2024 the Hanoi and HCMC marathons together attracted close to 30,000 runners. When the Techcombank HCMC marathon first began seven years ago it had only around 2,000 runners. By partnering with local government, we’ve turned these events into powerful experiences that inspire thousands to embrace active lifestyles and push beyond their limits. This phenomenal growth shows the power of mass participation sports to connect with people and to foster a spirit of community and social engagement.
This year’s 3rd edition of the Techcombank Hanoi marathon was particularly significant because it was scheduled to take place in September, right after Typhoon Yagi had hit northern Vietnam and caused significant damage and loss of life. We took the difficult decision to postpone the marathon by a week and donate around VND3 billion to support the relief efforts and help those impacted by the storm. Despite the rain and winds over 10,000 runners came out for the race when it was eventually held, demonstrating the indomitable spirit and pride of the Vietnamese people as Hanoi celebrated the 70th anniversary of its Liberation Day.
What specific steps has Techcombank taken to integrate sustainability into the HCMC Marathon?
When Techcombank considers our support for mass participation sporting events like the HCMC marathon, we look at maximising the positive impacts in relation to seven sustainability pillars: Partnership; Particiption; People; Planet; Power; Profile and Prosperity. These are pillars defined by the organisation Global Sustainable Sport (GSS).
We believe our support for the Hanoi and HCMC marathons delivers significant positive sustainability outcomes across five of these seven pillars. Our support helps to foster partnerships with local government and with community organisations, it encourages mass participation by the community, its delivers positive social impact by promoting physical fitness and healthy lifestyles, it uplifts the economy through tourism, and of course, it helps to profile Techcombank’ brand and connect it with all aspirational Vietnamese.
As with any activity, there is inevitably some environmental impact to running mass participation sporting events. However, we are working with the event’s organiser and local government departments to try to minimise these effects through recycling of waste and by providing buses to transport participants to and from the racecourse.
How does Techcombank plan to develop its involvement in the HCMC Marathon and similar events to deepen its ESG impact?
I joined Techcombank in 2020 as CMO and since then the marathon has grown and changed so much and has become a truly spectacular and inspiring event. Since inception the Techcombank HCMC International marathon has expanded its participation from over 4,000 runners to around 18,000 this year, with side events running over a full three days.
HCMC should be hugely proud of the event which helps to showcase the city, the community and all of Vietnam to the world. But we don’t want to stop here. Techcombank’s aim is to create one official city marathon that can become a truly world-class sporting event comparable to the marathon in Singapore and even to world major events like in Tokyo, New York…and now also in Sydney.
An official HCMC marathon, supported by Techcombank, would help to put the city on the global map and attract visitors from around the world, further boosting the economy and tourism. We are currently working with the local government and building community support for what would be a truly special marathon event in HCMC that would serve to unite the community and showcase the vibrancy of this wonderful city.
Beyond Techcombank’s support for mass participation sports, what else is the bank doing to advance its ESG priorities and support Vietnam’s sustainability goals?
ESG and sustainability are now a key pillar of Techcombank’s transformation strategy and more important to the management team than ever before. As a leading Vietnamese bank, we want to be a partner to the country’s progress through sustainable growth and development. We are therefore actively looking for ways we can help to protect Vietnam’s environment, make positive contribution to the community, support and develop our people, and foster strong and effective corporate governance in our bank and across the industry.
As one of the leading banks in Vietnam, there are two main areas where we can be effective in delivering positive environmental impact.
First is in the provision of debt financing for green projects. In 2023 Techcombank provided more green financing than ever before and our funding for green projects in Vietnam has now reached over US$5 billion. Techcombank also just became the first private bank in Vietnam to introduce a Green Bond Framework to ensure that proceeds raised from the issuance of Green Bonds are used by Techcombank to finance projects that provide real environmental benefits to Vietnam.
Second, Techcombank is introducing policies to be more energy efficient in our operations and supporting our individual and business customers to be more sustainable in the way they live or operate.
For example, the Bank’s digital transformation strategy has improved our productivity and helped to minimise our impact on the environment by reducing energy consumption and waste. Another example is our opening of new energy efficiency head office buildings in Hanoi and HCMC. As well as providing a modern working environment for our people, these buildings were certified as Leadership in Energy and Environmental Design (LEED) Gold by the U.S. Green Building Council (USGBC) and are estimated to deliver energy savings of around 26% verses our old offices.
We are also taking the lead in helping our customers become green and live more sustainably. For example, in 2024 we became the first bank in Vietnam to launch a Visa EcoCard. This EcoCard enables our retail customers to live greener lifestyles by help them track carbon emission against their spending, easily offsetting their carbon footprint, and providing eco-friendly privileges like subscriptions to an EV taxi company.
Our social contributions also go beyond our Run for a Greater Vietnam initiative. We have donated around VND148 billion to community and social development organisations. Internally the bank is committed to gender diversity and to developing our talent. Women represent 19% of our board positions, while around 61% of our managerial roles are filled by women. On average Techcombank provides around 77 hours of training per employee each year to help them develop their skills and progress their careers.
