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Green financing for sustainable development: Insights from multiple cases of Vietnamese commercial banks

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  • Anh Huu Nguyen
  • Mai Hoang Thi Do
  • Thinh Gia Hoang
  • Loan Quynh Thi Nguyen

Abstract

Although the public sector is seen as the main party responsible for taking action on climate change and sustainable development, private commercial banks are in a unique position to support or shift the funding focus on green investment. By employing a qualitative research approach based on six commercial banks, this paper aims to investigate the current practices of how commercial banks are contributing to advance green business initiatives. Accordingly, this research examines and identifies the facilitators and challenges in domestic and foreign commercial banks in Vietnam which support green business initiatives. In addition to addressing the recent calls for the investigation of the role of commercial banks in facilitating green finance, our study expands the emerging literature by demonstrating the current efforts of Vietnam's commercial banks in fostering green finance during the Covid‐19 pandemic.

Suggested Citation

  • Anh Huu Nguyen & Mai Hoang Thi Do & Thinh Gia Hoang & Loan Quynh Thi Nguyen, 2023. "Green financing for sustainable development: Insights from multiple cases of Vietnamese commercial banks," Business Strategy and the Environment, Wiley Blackwell, vol. 32(1), pages 321-335, January.
    • Handle: RePEc:bla:bstrat:v:32:y:2023:i:1:p:321-335
    DOI: 10.1002/bse.3132
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    Cited by:

    1. Tianyao Zhen & Md. Mominur Rahman, 2024. "Greening Emerging Economies: Enhancing Environmental, Social, and Governance Performance through Environmental Management Accounting and Green Financing," Sustainability, MDPI, vol. 16(11), pages 1-23, June.
    2. Boyang Chen & Canghong Wang, 2024. "RETRACTED ARTICLE: Circular economy and biomass utilization: economic prospect for sustainable energy transition in China," Economic Change and Restructuring, Springer, vol. 57(2), pages 1-27, April.

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