TAIPEI, May 14, 2025 /PRNewswire/ — Cathay United Bank (CUB) marked its 20th anniversary in Vietnam by launching a year-long celebration with a landmark ESG seminar, bringing together over 80 industry leaders to chart a course for sustainable development among businesses in Vietnam.
Cathay United Bank HCMC Branch Head VJ Lu (sixth from the left.) emphasizes that we’ve looked at real challenges and practical ideas for ESG and sustainable development. Whether it was energy transition, strategy, or real business stories, it all comes down to one thing: collaboration really is key if we want to drive long-term change.” (Photo provided by Cathay United Bank)
Focusing on ESG: Global Trends and Local Challenges
In a bold demonstration of its commitment to sustainability and innovation, Cathay United Bank Ho Chi Minh City Branch (CUBHCM) celebrated its 20th anniversary under the theme “Better Together” by hosting the seminar “ESG: Challenges and Practices for Sustainable Development.” As Environmental, Social, and Governance (ESG) criteria increasingly influence global business strategy, the event provided key industry stakeholders with practical insights and strategic guidance to navigate the evolving sustainability landscape.
As a commercial bank under Cathay Financial Holdings – one of Asia’s leading financial institutions – CUB not only provides financial services but also actively serves as a key partner for businesses transitioning towards sustainability. In 2015, CUB became the first Taiwanese bank to adopt the Equator Principles, ensuring its financed projects align with international environmental and social risk management standards, laying a solid foundation for supporting sustainable development in business.
Mr. Michael Wen, Executive Vice President of Cathay United Bank, emphasized at the seminar, “Cathay United Bank aims to support our clients in navigating the evolving ESG landscape by providing insights into global and local trends, regulatory developments, and practical implementation approaches, empowering businesses. Vietnam’s rapid economic growth presents both opportunities and challenges in sustainability, and collaboration between businesses, financial institutions, and policymakers is key to driving meaningful change.”
During the forum, Mr. Nguyễn Hoàng Nam, ESG Leader at PwC Vietnam, highlighted the challenges many domestic small and medium-sized enterprises (SMEs) face regarding ESG: “Approximately 39% of businesses have never heard of ESG, and over 60% are unaware of relevant regulations. Key barriers include financial constraints, a lack of clear legal guidance, and limited ESG implementation capacity.”
To address these challenges, Mr. Nguyễn Hoàng Nam advised that businesses to invest in internal ESG training, develop reliable reporting data systems, proactively seek green finance partners, and engage with industry associations to learn best practices.
Practical Models and Industry Best Practices
Despite the challenges, ESG implementation in Vietnam has seen encouraging progress. At the policy level, the Vietnamese Government has issued the Green Growth Strategy for 2021–2030. The forum also featured representatives from leading companies in ESG execution and certification, including IDICO Industrial Park, Schneider Electric, Ares International Certification, Dan-D Foods, and Micro Electricity .
For instance, IDICO Industrial Park has introduced greener practices in heavy industry. It has installed rooftop solar systems across pre-built factories and reused wastewater. IDICO also prioritises human capital by developing convenient social housing, attracting quality workers. Meanwhile, Schneider Electric, with a Net Zero target by 2050, is actively developing clean technologies such as clean electricity and grid decarbonization to reduce its carbon footprint.
Cathay United Bank : Partnering with Vietnamese Businesses for Sustainability
By 2024, CUB had earned nearly 90 prestigious awards recognising achievements in asset management, digital innovation, and ESG practices—a testament to its position as a responsible and forward-thinking bank. Most recently, Cathay United Bank ranked in the top 20% of the Financial Supervisory Commission’s sustainable finance ratings.
Guided by its vision, positioning Vietnam as “second home,” CUB has taken significant steps in the recent years to promote ESG development across the country. Notably, the branch partnered with the Asian Development Bank (ADB) to finance Vietnam’s largest onshore wind power project in Ninh Thuận province, with a total investment of USD 107 million.
Furthermore, the Cathay United Bank Ho Chi Minh City Branch has launched a green loan programme in the form of CAPEX financing to support Vietnamese companies in developing sustainable, eco-friendly projects. The first phase factories under this initiative were the first in Northern Vietnam to receive the international LEED green building certification.
Mr. VJ Lu, the General Manager of CUB Ho Chi Minh City Branch stated, “Throughout today’s seminar, we’ve looked at real challenges and practical solutions for ESG and sustainable development. Whether it was energy transition, strategy, or real business stories—it all comes down to one thing: working together. Collaboration really is key if we want to drive long-term change.”
As the opening event of CUB’s 20 years anniversary celebration in Vietnam, this seminar underscores the bank’s commitment to connecting people, ideas, and solutions. Embracing the message “Better Together”, CUB affirms that ESG is not a solitary path, but a shared responsibility requiring collaboration across the enterprise–finance–community ecosystem to move further, together.
