New Text Notification

Information serving environmental risk management in extending credit

Võ Ngọc Nhi

17:47, 29/12/2022

The Governor of the State Bank of Vietnam has promulgated the Circular No. 17/2022/TT-NHNN dated December 23, 2022 providing guidelines on environmental risk management in credit extension by credit institutions and foreign bank branches.

According to this Circular, the information used for serving the environmental risk management in extending credit includes:

- Environmental information about the investment project.

- Decision on approval of appraisal results of preliminary environmental impact assessment report or environmental impact assessment report as prescribed by laws, environmental license and environmental registration certificate (if any).

- Information on site surveys, information provided by regulatory authorities, social organizations, residential communities and individuals under direct environmental impact of the client’s investment project in respect of the compliance with regulations on environmental protection (if any).

- The environmental protection reports submitted by the client to competent authorities in accordance with regulations of law on environmental protection.

- The reports sent by the client to the credit institution on its commitments to minimize the environmental risks in extending credit specified in the signed crecit extension agreement, etc.

Further details are available in the Circular No. 17/2022/TT-NHNN which is coming into force from June 01, 2023.

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