HSBC Vietnam recently gave Dong Hai Joint Stock Company of Ben Tre (DOHACO) a VND200 billion short term green trade loan, further expanding its green strategy in the paper manufacturing.
A meaningful trade facility remarks the first cooperation between HSBC Vietnam and DOHACO, a listed company which focuses on manufacturing carton paper and carton packaging.
This financing, which successfully went through the strict green loan approval process of HSBC, will allow DOHACO to import or locally purchase waste paper, converting them into the key ingredient in the process of manufacturing products made from paper.
Luong Van Thanh, chairman of DOHACO, said that with the goal of manufacturing the environment-friendly products, DOHACO only focuses on producing carton paper and carton packaging.
The company has applied environmental management system ISO 9001:2015 and ISO 14001:2015, FSC management system, regularly reviewed the upgrade and improvement of environmental protection projects, wastewater treatment system, etc.
It affirms that environmental protection issues and the compliance with environmental laws and regulations are always DOHACO’s top priorities in its manufacturing and business.
“Therefore, DOHACO extremely welcomes HSBC’s supports for green businesses. We hope that DOHACO and HSBC Vietnam will continue to accompany each other in the coming time, fulfilling our sharing goal of raising awareness of environmental protection and sustainable development,” said Thanh.
Both DOHACO and HSBC own clear strategy in the green transition to net zero, also share the similar vision and direction in the organizations’ sustainable development.
The green facility inks HSBC Vietnam’s further efforts in creating diversified support to different sectors in the whole economy, as well as encourage local firms to enhance their presence in greening Vietnam’s manufacture and economy.
Stephanie Betant, country head of wholesale banking, HSBC Vietnam, commented that the paper industry has seen important growth, with paper packaging gaining in popularity. Recycling of paper and consumption of recycled products play an important role in supporting the sector to reduce its carbon footprint.
“The industry in Vietnam has shown tremendous economic opportunity, and HSBC is proud to support its supply chain with the procurement of recycled paper. HSBC, through its extensive experience in structuring green and sustainable financing, is proud to accompany Vietnamese companies in this important journey through sustainable trade finance,” she stressed.
In addition to plastic, paper is a very common material which often used in many disposable products and packaging. Due to the lack of waterproof properties, many paper products have to be combined with plastics and metals, which makes paper recycling complicated.
This is the reason why only a small number of companies enters the paper recycling industry despite the increasing demand.
Members of Packaging Recycling Organization Vietnam (PRO Vietnam) as Tetra Pak, TH Truemilk, Nestlé that have paper packaging in their products are aiming to make all paking 100 per cent recyclable.
For example, Nestlé in Vietnam, including Nestlé Vietnam and La Vie company – other members of PRO Vietnam, announced its commitment to plastic neutrality by 2025.
It also signed an MoU with the Vietnam Environment Agency, with the aim of promoting propaganda activities, disseminating and raising awareness about environmental protection, and promoting activities on sustainable packaging management.
Source: The Leader