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In order to achieve a green credit by HSBC, Duy Tan’s project had to go through HSBC’s strict credit approval and management process of sustainable financing controlled by HSBC Asia Pacific Sustainable Loans Committee.

HSBC Vietnam Rolls Out the First Green Financing for Duy Tan Plastics Recycling
Today, HSBC Bank (Vietnam) Ltd. (HSBC Vietnam) and Duy Tan Plastics Corporation (Duy Tan) sign a green credit agreement to finance Duy Tan Plastics Recycling Factory. The green loan, which is under HSBC’s commitment to provide USD100 billion of sustainable finance and investment by 2025, is the first that HSBC arranges for a Vietnam’s company.
The factory, with planned capacity of up to 100,000 tons per year, is the first in Vietnam to apply the Bottles to Bottles process . In order to achieve a green credit by HSBC, Duy Tan’s project had to go through HSBC’s strict credit approval and management process of sustainable financing controlled by HSBC Asia Pacific Sustainable Loans Committee, the dedicated body of the Bank with rich experience in successfully arranging green financing in different fields around the world. At the same time, the green deal is required to meet the high standards of the international Green Loan Principles jointly issued by Loan Market Association and Asia Pacific Loan Market Association. It includes four core components: use of proceeds, project selection and evaluation, management of proceeds and reporting.  
Joining HSBC’s green financing, Duy Tan gets expert consultancy in green finance, sustainable development and green projects’ governance. Simultaneously, a green credit in profile will help broaden Duy Tan’s prospect of access to international capital market in the future.
Aligning with Vietnam government’s national strategy on green growth and the State Bank of Vietnam’s development scheme of green banking, HSBC’s green financing for Duy Tan Plastic Recycling Factory shows the long-term vision of both organisations in building Vietnam’s sustainable economy.
“It is a very positive signal to showcase how Vietnamese large corporates are transforming in a more sustainable way. From 1870 when we opened our first office in Saigon, now Ho Chi Minh City, our purpose has never changed. We want to enable businesses to thrive, Vietnam’s economy to prosper and Vietnamese people to fulfil their hopes and realise their ambitions. We are proud to accompany Vietnam’s businesses in the journey of sustainable growth”, added Stephanie Betant.

DIEP NGUYEN