Ms. Nguyễn Thị Thái Linh, an officer from BIDV's Enterprise-wide Risk Management Department, has become the first professional in Vietnam’s banking industry to earn the Sustainability and Climate Risk (SCR) certification—an internationally recognized credential in ESG risk management awarded by the Global Association of Risk Professionals (GARP). The certification is known for its rigorous standards and relatively low pass rate of just over 60%.

A Journey Toward the GARP SCR Certification

Earning the SCR must have been a challenging journey. When you found out you passed—especially as the first in the industry—what went through your mind?

- I vividly remember the moment I received the news. I was traveling in China with some friends at the time. I didn’t tell anyone right away, but deep inside, I felt both happy and relieved. Happy because a year and a half of studying had finally paid off. Relieved because, to be honest, I had failed the exam once before. Overcoming that setback made me truly grateful that I didn’t give up. I also felt proud to be paving the way for fellow colleagues who share the same passion and vision for sustainable risk management.

A year and a half is quite a long time to prepare. What was the most difficult part of that journey for you?

- Honestly, the hardest part wasn’t the knowledge itself—even though the material was new, complex, and highly academic. The real challenge was perseverance. Staying committed, and not giving up halfway through. When I first started exploring the SCR certification, I felt somewhat isolated. There were virtually no Vietnamese-language materials available, and I wasn’t aware of anyone who had taken this path before me to seek guidance from. I had to figure everything out from scratch—from how to study, to understanding the structure of the exam. The review period felt like a marathon. I usually got home from work around 7 to 7:30 p.m. Some evenings I had barely finished dinner when I had to jump into five-hour online study sessions with an American tutor. Many nights, I relied on coffee and energy drinks just to stay focused. Meanwhile, my workload at the office remained heavy—so I was dealing with pressure both day and night. Adding to the challenge, my SCR exam coincided with my daughter’s final exam period. As a mother, I felt a little guilty for not being able to support her studies like I usually do. But fortunately, I made it through in the end.

Ms. Nguyễn Thị Thái Linh – Officer, Enterprise-wide Risk Management Division

Pursuing the Certification for Professional Growth

With the demands of work and life, what motivated you to pursue such a challenging and relatively new certification like SCR in Vietnam?

- Before talking about the certification or my job, I must say I have a deep personal interest in sustainability. I’ve always loved nature and felt a strong connection to environmental issues. In 2024, while I was assigned to research ESG risk management projects, I came across the SCR certification. The more I learned about it, the more I realized how valuable it is for anyone working in risk management. It’s no coincidence that many professionals at leading global banks such as Citibank, BNP Paribas, and HSBC have pursued this certification. Interestingly, failing the exam the first time only reinforced my belief in the certification’s quality. The curriculum covers nearly all aspects of climate risk management, with many areas directly relevant to banking. It’s not something you can pass through rote memorization—you really have to understand the content and know how to apply it in real-world contexts. But above all, what truly drove me was BIDV’s strategic direction. Chairman Phan Đức Tú has consistently emphasized the goal of transforming BIDV into a “Green Bank” aligned with sustainable development. When the organization chooses that path—a path I personally believe in and align with—I feel a strong sense of purpose in contributing to that collective journey.

The Enterprise-wide Risk Management Division of BIDV

From the perspective of someone who has just passed an international ESG risk management certification exam, what do you think are the systemic ESG risks that BIDV is currently facing?

- In my opinion, there are three key types of risks that we need to pay attention to.

The most urgent is transition risk, and in fact, it is already happening. BIDV is witnessing our clients struggling with increasingly stringent environmental policies, especially regarding greenhouse gas emissions reduction. For example, the EU has implemented the Carbon Border Adjustment Mechanism (CBAM), which creates challenges for high-emission exports such as steel, cement, and chemicals. Even in Vietnam, the Government just issued Decree 119♋ this June, which requires emission quotas to be allocated to sectors like thermal power, cement, and steel by the end of the year. Businesses exceeding their quotas will face administrative penalties and have the excess carried forward into the next year.

At the same time, technology and consumer preferences are changing rapidly. A clear example is the electric vehicle market: in just one year, sales have doubled, and EVs now make up 25% of all cars sold in Vietnam❀. Consumers are increasingly favoring green products, which directly pressures the businesses borrowing from BIDV.

The second risk is physical risk related to climate change. BIDV lends to sectors such as agriculture, fisheries, tourism, and transportation infrastructure—all of which are directly affected by extreme and unpredictable weather. For example, the coffee sector in the Central Highlands faces ongoing droughts and erratic floods, leading to significant yield reductions. The fisheries industry is also impacted. In terms of infrastructure, about 9% of the North-South railway line🎐 is at high risk of landslides; and if sea levels rise by just one meter, many national and provincial roads will be deeply flooded. Coastal tourism is also under threat, with coral reefs in Nha Trang and Phu Quoc experiencing widespread bleaching.

Lastly, reputational riskඣ. If BIDV continues to finance projects that violate international ESG standards—such as those polluting the environment or violating human rights—we will undoubtedly face negative assessments from both the public and the market.

In your opinion, how can we effectively manage ESG risks? Do you have specific recommendations regarding training and for colleagues working in this area?

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• I believe that to manage ESG risks well, each functional department—whether it’s risk management, credit appraisal, product development, strategy, carbon market, auditing, or disclosures—should have at least 1–2 individuals who truly understand ESG. These people will serve as “locomotives,” leading ESG expertise within their teams. Ideally, they would also hold relevant international certifications. For example, in risk management, there’s the GARP SCR certificate, while those in investment might consider the CFA ESG Investing certification.

As for specific recommendations, I believe BIDV can do two things to make ESG training more effective:

First, departments should proactively seek training programs on sustainable development that align closely with their area of expertise and work with the Training and Research Institute to organize these sessions or directly invite experts to deliver them. For instance, the Corporate Development and Communications Department♏ recently invited experts from VNEEC to conduct a specialized training on emission measurement. I myself once identified the SCR course and proposed it to the Institute for implementation.

Secondly—this may be a bit sensitive—I think BIDV should simplify the procedures💛 for financial support toward international certifications. The costs for these exams and courses can be quite high, ranging from several hundred to even thousands of dollars. While BIDV does already have support policies, the processes involved remain complicated. If we simplify these procedures, more people will be motivated to commit to studying and sitting for these certifications.

In the long run, I think BIDV should consider establishing a dedicated sustainable development team, similar to what international banks call a Center of Excellence.

Finally—if I may dream a little—I believe there will come a time when sustainability is no longer seen as something far-off or abstract. It will become part of our daily routine, just like “three meals a day.” At that point, all our decisions will consider sustainability factors—not just profit. To reach that stage, I think BIDV should introduce basic ESG training across the board, starting with credit officer onboarding programs, which should include modules on environmental and social risk assessment. Just as important, we need to foster a truly strong sustainability culture within the bank.

On a personal note—as a risk management officer, you must have a very logical and cautious mindset. Does that way of thinking influence how you approach everyday life?

- Oh, absolutely! That’s my “occupational hazard.” Sometimes I really do see risks everywhere. Even at home, I’m careful about where I place furniture—checking if walkways are clear, or if electrical outlets are safe for the kids. When it comes to personal investments, safety is always the top priority. Or even just commuting, I tend to anticipate potential scenarios on the road. I think risk management should be a constant mechanism in both work and life🎃. It helps you live and work with intention—and avoid being caught off guard.

But if you’re always so cautious, do you ever worry that you might never step outside your comfort zone?

- I do think about that sometimes—what we call “risk appetite.” The question is not whether risk exists, but how much risk we are willing to accept𓂃, and whether the potential rewards justify the costs. Just like when I took the certification exam a second time—there was the risk of failure, lost time, and money. But the benefit was that I could become a pioneer, and this credential directly supports my work.

Listening to your stories, I can feel your strong passion for sustainable development and ESG risk management. What are your next steps after achieving this milestone?

- For now, I’m waiting for guidance from senior leadership regarding the implementation of the ESG risk management project. Once it’s launched, I hope to become a core member of the project team🎃, helping to deliver it as effectively as possible and support BIDV in becoming a leading “Green Bank.”

I’m also looking for short, hands-on training courses✱, especially those that involve fieldwork and identifying environmental and social risks at manufacturing sites. This kind of knowledge is invaluable for policy makers like myself who work in risk management in the banking sector.

I’m also considering pursuing a master’s degree in this field♐, but I’m still researching to find programs that are both practical and cost-effective. Ultimately, I believe learning should be about applying knowledge effectively at work—not just about earning degrees.

Thank you very much for sharing!