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ESG Integration through Strategic Governance in Vietnam’s Commercial Banks: A Case Study Approach

In: Proceedings of the International Conference on Emerging Challenges: Business Dynamics in Disruptive Economy (ICECH 2025)

Author

Listed:
  • Van Nguyen Hong

    (Hanoi University of Science and Technology, Department of Business, School of Economics and Management)

  • Giang Ngo Thu

    (Hanoi University of Science and Technology, Department of Business, School of Economics and Management)

Abstract

Research purpose: This paper examines how strategic governance enables ESG integration in Vietnam’s commercial banking sector by comparing five leading banks (Vietcombank, BIDV, VietinBank, Techcombank, VPBank) and identifying governance mechanisms that act as enablers or constraints. Research motivation: Although Vietnam’s banks are pivotal to sustainable development and face rising expectations from regulators and international investors, weak board oversight, limited strategic integration, and uneven transparency continue to hinder ESG implementation. Research design, approach, and method: A qualitative multiple–case study was conducted using 2024 sustainability and annual reports. Directed content analysis coded evidence across board structures, risk governance, and transparency using a 0–2 rubric summarized in mini-scorecards, enabling systematic cross-case comparison of state-owned and private banks. Main findings: All five banks have institutionalized board-linked ESG oversight and formal risk architectures, yet depth and disclosure vary. On the composite scorecard (max 32), VPBank leads (28), followed by BIDV (24), Techcombank (21), and Vietcombank - VietinBank (20 each). Private banks show stronger cadence, broader framework adoption, external assurance, and data controls, whereas state-owned banks display more compliance-oriented, hierarchical models with thinner disclosure on cadence and assurance. Practical/managerial implications: Banks should embed ESG competence across entire boards, deepen ESG risk integration across the three lines of defense and ESMS, and enhance transparency via multi-framework reporting (GRI/TCFD/ISSB), independent assurance, and ESG data-governance controls; these steps shift disclosure from compliance to strategic accountability and strengthen investor credibility.

Suggested Citation

  • Van Nguyen Hong & Giang Ngo Thu, 2026. "ESG Integration through Strategic Governance in Vietnam’s Commercial Banks: A Case Study Approach," Advances in Economics, Business and Management Research, in: Nguyen Danh Nguyen & Pham Thi Kim Ngoc (ed.), Proceedings of the International Conference on Emerging Challenges: Business Dynamics in Disruptive Economy (ICECH 2025), pages 362-384, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6239-622-7_22
    DOI: 10.2991/978-94-6239-622-7_22
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