Green and Blue Bonds Framework

SeABank’s vision for green credit and blue credit is closely aligned with strong commitments to environmental conservation, economic prosperity, and social well-being. Recognizing the urgent need to tackle climate change, conserve natural resources, and safeguard marine life and the long-term health of the oceans for future generations, SeABank aims to lead the mobilization of capital for projects and initiatives that enhance environmental sustainability, accelerate the transition to a low-carbon economy, and promote the sustainable use and conservation of marine resources. Simultaneously, these efforts seek to reduce greenhouse gas emissions, mitigate environmental risks, and deliver tangible benefits to coastal communities and marine ecosystems.

To bring this vision to life, SeABank will issue green debt instruments (“Green Bonds”) and ocean protection debt instruments (“Blue Bonds”) to mobilize capital to finance and support Vietnamese enterprises in advancing a net-zero economy, addressing climate change mitigation and adaptation challenges (for Green Bonds), and contributing to ocean protection and/or improved water management (for Blue Bonds). The Green Bonds and Blue Bonds Framework (“Bond Framework”) establishes the foundation for issuing Green Bonds and Blue Bonds and for allocating the proceeds from such issuances to eligible green projects and ocean protection projects. This Bond Framework has been developed in accordance with the Green Bond Principles set by the International Capital Market Association (for Green Bonds) and the Blue Bond Guidance issued by the International Finance Corporation (for Blue Bonds). 

The Bond Framework establishes the basis for identifying, selecting, evaluating, and reporting on sustainable financing activities that meet the eligibility criteria for financing or refinancing with proceeds raised from Green Bonds and Blue Bonds issued by SeABank, as well as for managing such proceeds. Proceeds raised from Green Bonds will be exclusively allocated to finance or refinance activities and projects that contribute to specific environmental objectives. Meanwhile, proceeds raised from Blue Bonds will be exclusively allocated to finance or refinance activities and projects that contribute to ocean protection and/or improved water management.  

The Bond Framework sets out detailed provisions for the four core components of Green Bonds and Blue Bonds, including: 

1. Use of Proceeds;
2. Project Evaluation and Selection Process;
3. Management of Proceeds;
4. Reporting.

Additionally, to ensure compliance with the Green Bond Principles established by the International Capital Market Association (ICMA), SeABank has appointed S&P Global as the provider of the Second Party Opinion (SPO) for the Green and Blue Bonds Framework. 

Clients and partners can access further details via the following link:

1. Green Bond and Ocean Protection Green Bond Framework link here 
2. Second Party Opinion by S&P Global link here