Abstract :

This study investigates the effectiveness of state management of green credit in Vietnam’s commercial banks through a structural model based on survey data from 335 respondents. The findings reveal that all factors positively influence management effectiveness, with the data system having the most substantial impact, followed by inspection and supervision mechanisms, and the institutional and legal framework. Meanwhile, international standards, strategic commitment to green credit, and appraisal governance capacity show more minor yet positive effects. The results highlight the importance of enhancing data infrastructure, improving supervision quality, and consolidating institutional coordination to strengthen policy implementation and promote sustainable finance in Vietnam.

---

Keywords :

Green Credit; Commercial Banking, State Management; SEM, Vietnam

---

References :

1. Bolton, J. (2020). John Bolton: The Scandal of Trump’s China Policy. The New York Times.
2. Berg, F., Kölbel, J. F., & Rigobon, R. (2022). Aggregate confusion: The divergence of ESG ratings. Review of Finance, 26(6), 1315-1344.
3. Basel Committee on Banking Supervision (2022). Principles for the effective management and supervision of climate-related financial risks. Basel: Bank for International Settlements. Retrieved from https://www.bis.org/bcbs/publ/d532.htm Bank for International Settlements
4. Christensen, H. B., Hail, L., & Leuz, C. (2021). Mandatory CSR and sustainability reporting: Economic analysis and literature review. Review of accounting studies, 26(3), 1176-1248.
5. Delis, M. D., Greiff, K. D., Iosifidi, M., & Ongena, S. (2024). Being stranded with fossil fuel reserves? Climate policy risk and the pricing of bank loans. Financial markets, institutions & instruments, 33(3), 239-265.
6. Ehlers, T., Gao, D., & Packer, F. (2021). A taxonomy of sustainable finance taxonomies. BIS Papers, (118).
7. Goss, A., & Roberts, G. S. (2011). The impact of corporate social responsibility on the cost of bank loans. Journal of banking & finance, 35(7), 1794-1810.
8. Faruq, A. T. M., & Chowdhury, M. A. R. (2025). Financial Markets and ESG: How Big Data is Transforming Sustainable Investing in Developing countries. arXiv preprint arXiv:2503.06696.
9. Hamamoto, M. (2006). Environmental regulation and the productivity of Japanese manufacturing industries. Resource and energy economics, 28(4), 299-312.
10. Hair, J. F., Risher, J. J., Sarstedt, M., & Ringle, C. M. (2019). When to use and how to report the results of PLS-SEM. European business review, 31(1), 2-24.
11. North, D. C. (1990). Institutions, institutional change and economic performance. Cambridge University.
12. Scholtens, B. (2017). Why finance should care about ecology. Trends in ecology & evolution, 32(7), 500-505.
13. United Nations Environment Programme Finance Initiative. (2023–2024). Banking on Green Buildings; Energy Efficiency Finance capacity-building materials. Geneva: UNEP FI. Retrieved from https://www.unepfi.org
14. Zhou, J., Lei, X., & Yu, J. (2024). ESG rating divergence and corporate green innovation. Business Strategy and the Environment, 33(4), 2911-2930.
15. Weber, O. (2012). Environmental credit risk management in banks and financial service institutions. Business Strategy and the Environment, 21(4), 248-263.