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Capital market professionals get training in green bonds

By May Pham   November 28, 2021 | 07:00 pm PT
The Global Green Growth Institute, in partnership with the Luxembourg Green Exchange, recently organized a training program for financial institutions in Vietnam’s bond market to enhance the capacity of key players in the green bond market.

Over 40 representatives from stock exchanges, Vietnam Securities Depository, commercial banks (Vietcombank, Vietinbank, Agribank, HDbank, etc.), securities firms (Techcombank Securities, VNDirect, SSI, VCBS, BSC, etc.), and other financial institutions attended the virtual training event on October 26-27

The program, ‘Green bond issuance: A technical guidance for professional bond market participants,’ covered key aspects of the green bond market, including the current state of development of the green, social, and sustainable bond markets globally and in ASEAN, green taxonomies and the green bond issuance and listing processes.

In opening the training, Srinath Komarina, program manager of the Green Bond Readiness Program at the GGGI, highlighted the enormous potential green bonds offer a fast-emerging economy like Vietnam to leverage and achieve the net-zero climate target by 2050, a commitment recently made by Prime Minister Pham Minh Chinh at COP26.

He hailed the commitment made by the Ministry of Finance to develop a robust green bond market in Vietnam and its support for the Vietnam Green Bond Readiness Program being implemented by the GGGI.

During the training, best practices in creating a green bond framework and post-issuance impact reporting were discussed in great detail using case studies from different types of issuers across Southeast Asia and globally.

Participants elaborately drew a distinction between green bonds and other use-of-proceeds bond instruments. Some light was shed on the newly emerging sustainability-linked bonds and their potential relevance to emerging markets.

The training welcomed over 40 representatives from stock exchanges, Vietnam Securities Depository, commercial banks, securities firms, and other financial institutions in Vietnam.

The training welcomed over 40 representatives from stock exchanges, Vietnam Securities Depository, commercial banks, securities firms, and other financial institutions in Vietnam. Photo by GGGI

Participants also shared practical experiences in and insights into challenges to making local-currency denominated green bond issuance in ASEAN and in Vietnam.

Guest speakers from the Luxembourg Stock Exchange hosted a side session on the issuance and listing of green bonds on international exchanges. It provided technical insights into and guidance for issuing, listing and information disclosure for green, social and sustainability bonds, and made some practical recommendations for pitching these sustainable finance instruments to investors in international markets.

This is the second training event under ongoing capacity-building programs developed within the framework of the Vietnam Green Bond Readiness Program, a collaborative initiative by the GGGI, Ministry of Finance and Government of Grand Duchy of Luxembourg.

GGGI was established as an international intergovernmental organization in 2012 at the Rio+20 United Nations Conference on Sustainable Development. Its vision is "a low-carbon, resilient world of strong, inclusive, and sustainable growth" and its mission is "to support members in the transformation of their economies into a green growth economic model."

GGGI does this through technical assistance to: reduce greenhouse gas emissions in line with the Paris Agreement; create green jobs; increase access to sustainable services (such as clean affordable energy, sustainable waste management); improve air quality; sustain natural capital for adequate supply of ecosystem services; and enhance adaptation to climate change.

For more information, please visit: www.GGGI.org

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