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Banks say ‘no’ to polluting businesses   2008-10-07 - TBKTSG

The enterprises that cause pollution to the environment will see bank doors close on them, as banks say they do not want to establish credit relation with those businesses.


Nguyen Sy An, Director of Quang Huy Trade and Packaging Company in Vinh Loc Industrial Zone, one of the 26 companies listed by Hepza (the HCM City Management Board of Industrial Zones and Export Processing Zones), said that a bank has made it difficult for his company after mass media reported on his company’s problem. However, An declined to give the name of the bank which refused to provide him with a loan.


Ngo Anh Tuan, Deputy Head of Hepza, also said that a lot of enterprises on the said list have complained that their partners have called them and expressed concern about doing business with businesses tied to polluting the environment.


Commercial banks have paid more attention to environmental protection by businesses. An Binh Bank has released a new credit policy, under which businesses need to meet the requirements on environmental protection to be eligible to borrow money from the bank.


Mai Tong Ba, Director of the Saigon Branch of Asia Commercial Bank (ACB), said that environmental protection has become one of the main criteria for the bank to consider when providing credit to businesses


Ba said that the enterprises in industrial zones must have an inner water treatment system; while the industrial zones where the enterprises locate their plants, also must have a general waste treatment system.


Huynh Buu Quang, Corporate Finance Director of Hong Kong and Shanghai Banking Corporation Vietnam (HSBC) affirmed that all businesses that need to get loans from HSBC, have to meet the requirements on environmental protection. This is one of the compulsory requirements HSBC global has applied since 2003.


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