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Service (to be performed):
Provide guidance on integrating integrating Environmental, Social, and Governance (ESG) risks related to illegal wildlife trade (IWT) into the risk management and financial crime prevention frameworks of financial institutions in Viet Nam.
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Location of Service provided: Ho Noi and/or Ho Chi Minh city and/or Ninh Binh
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Duration of Service’s performance: August – December 2025
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I. Background:
In the context of the escalating biodiversity crisis, the financial sector is identified as a key actor that can either contribute to reversing or exacerbating pressures on nature. Unregulated flows of credit, investment, and financial products can inadvertently facilitate environmentally harmful activities such as unsustainable resource extraction, land-use change, and particularly the illegal wildlife trade (IWT). In June 2020 and July 2021, the Financial Action Task Force (FATF) published two respective reports, "Money Laundering and the Illegal Wildlife Trade" and "Money Laundering from Environmental Crimes," signaling a growing focus among FATF member states on integrating ecological issues into the Anti-Money Laundering (AML) frameworks of financial institutions.
In recent years, Environmental, Social, and Governance (ESG) has gained significant prominence in financial and investment management; consequently, financial institutions have invested considerable resources in implementing reporting frameworks, developing reports, and issuing disclaimers. Similarly, financial institutions have also dedicated significant resources to financial crime prevention and sanctions programs to ensure compliance with international and national AML regulations. While both AML and ESG programs aim to improve the quality of financial flows, very few financial institutions have connected their financial crime prevention activities with their ongoing ESG frameworks.
Since June 2023, Viet Nam has been placed on the Financial Action Task Force (FATF)’s list of jurisdictions under increased monitoring (the "Grey List"), along with 17 recommended actions aimed at addressing deficiencies in the country’s Anti-Money Laundering (AML), Counter-Terrorism Financing (CTF), and Counter-Proliferation Financing frameworks. This designation has underscored the urgent need to strengthen the effectiveness of Viet Nam’s AML regime across all sectors, including environmental crime, recognized as one of the predicate offenses for money laundering. In response, the Government of Viet Nam has taken concrete steps to implement the FATF’s recommendations to achieve early removal from the Grey List. Notably, on 10 May 2024, the Government adopted Resolution No. 17/NQ-CP, which officially approved the results of the National Assessment on Money Laundering Risk for the period 2018-2022. According to this assessment, environmental crimes, including three key areas: environmental protection, natural resource management and exploitation, and wildlife protection, have been identified as carrying a medium-high risk of being used for money laundering purposes.
According to research conducted by PwC Viet Nam, ESG strategies and policies should be integrated into existing operational processes rather than established as parallel frameworks. Within this approach, financial institutions are expected to identify ESG-related risks and determine which of these should be prioritized for mitigation. Integrating ESG risks into risk management systems and financial crime prevention frameworks provides a strong foundation for advancing sustainable development. Excluding the immediate costs of ESG investment, financial institutions must also consider the long-term cost of inaction - namely, the potential consequences of ignoring early warning signals and failing to address emerging ESG-related risks, which could result in significant financial and reputational damage over time.
Therefore, WCS Viet Nam seeks a local consultant team to provide technical leadership in the content development and implementation of a series of activities aimed at raising awareness among financial stitutions in Viet Nam of the financial risks associated with IWT - recognized as one of the emerging ESG risks - and supporting the identification of concrete actions for ESG integration, particularly within the banking sector.
II. Objectives:
Coordinating with WCS to design content, develop material and organize technical events aimed at raising awareness of the Vietnamese financial institutions of IWT-related financial risks as ESG.
III. Description of work:
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Activities
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Output/ deliverables
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Implementation period
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Allotted time (# of days)
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Payment schedule
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Activity 1: Develop a draft guidance on integrating ESG risks related to illegal wildlife trade into the risk management and financial crime prevention frameworks of the financial institutions in Viet Nam
- Conduct a literature review to identify ESG risks related to biodiversity conservation and sustainable natural resource management.
- Develop an outline of the guiding document in consultation with WCS Viet Nam and national and international experts recommended by WCS Viet Nam and the consulting partner.
- Develop detailed content for the guidance
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- 01 outline of the guidance
- Draft guidance
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Sept. 2025
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Determined based on the service provider’s proposal and approved by WCS
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First payment after Activity 1 is completed, all deliverables submitted and approved by WCS
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Activity 2: Organize one outreach event with financial institutions in Viet Nam
Coordinate with WCS Viet Nam to design and organize an outreach event for financial institutions. Specific tasks are as follows:
- Develop an agenda for the outreach
- Prepare or support WCS to prepare the required documents to submit for official approval from relevant authorities to organize the event.
- Develop invitee list, guest speakers; send invitations; and confirm the attendance of participants and guest speakers.
- Prepare and present relevant topics as discussed and agreed with WCS Viet Nam.
- Coordinate with WCS Viet Nam to arrange logistics before, during and after the event such as preparing handouts, participant list, hotel and travel arrangements, etc.
- Coordinate with WCS Vet Nam to collect and review presentations prepared by guest speakers and panelists, and facilitate the event.
- Develop an event report.
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- Agenda of the outreach event
- Presentations of assigned topics
- List of guest speakers, panelists and participants
- One outreach event is successfully organized
- Event report
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Oct. -
Nov. 2025
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Determined based on the service provider’s proposal and approved by WCS
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Second payment after Activity 2&3 completed, all deliverables are submitted and approved by WCS
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Activity 3: Organize a technical meeting to introduce the guidance as a tool to prevent financial risks associated with IWT
Coordinate with WCS Viet Nam to design and organize a technical meeting for financial institutions. Specific tasks are as follows:
- Develop an agenda for the technical meeting
- Prepare or support WCS to prepare the required documents to submit for official approval from relevant authorities to organize the event
- Develop invitee list, guest speakers; send invitations; and confirm the attendance of participants and guest speakers.
- Prepare and present relevant topics as discussed and agreed with WCS Viet Nam.
- Coordinate with WCS Viet Nam to arrange logistics before, during and after the event such as preparing handouts, participant list, hotel and travel arrangements etc.
- Coordinate with WCS Vet Nam to collect and review presentations prepared by guest speakers and panelists, and facilitate the event.
- Develop an event report.
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- Agenda of the meeting
- Presentations of assigned topics
- List of guest speakers and participants
- One technical meeting is successfully organized
- Event report
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Oct - Nov 2025
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Determined based on the service provider’s proposal and approved by WCS
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Second payment after Activity 2&3 completed, all deliverables are submitted and approved by WCS
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Activity 4: Provide technical support to the organization of a raising awareness program on financial risks related to illegal wildlife trade for banking and finance students
Coordinate with WCS Viet Nam and its local partner to organize one seminar and a training course for banking and financial students. Specific tasks are as follows:
- Provide inputs, comments on the agenda of the seminar and training.
- Prepare and present relevant topics.
- Coordinate with WCS and its local partner to facilitate the relevant topics of the seminar and training course.
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- The agenda of the seminar and training course
- Presentations of assigned topics
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Sept – Nov. 2025
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Determined based on the service provider’s proposal and approved by WCS
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Third payment after Activity 4 is completed, all deliverables are submitted and approved by WCS
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Activity 5. Revise and finalize the guidance on integrating ESG risks related to illegal wildlife trade into the risk management and financial crime prevention frameworks of the financial institutions in Viet Nam
- Synthesize feedback from experts, representatives of financial institutions in Viet Nam, through outreach event, technical update meeting (Act. 2&3) and WCS Viet Nam
- Revise and finalize the guidance.
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- Final version of the guidance
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Dec. 2025
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Determined based on the service provider’s proposal and approved by WCS
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Final payment after Activity 5 is completed, all deliverables submitted and approved by WCS
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Total allotted time (total working days): Determined based on the service provider’s proposal and approved by WCS
IV. Requirements (selection criteria):
- A legal entity or organization operating under the law in Viet Nam
- Experienced in implementing activities related to ESG reporting and practice assessment for the banking sector in Vietnam
- Experienced in designing and organizing workshops and training activities for officers of financial institution and financial, banking students
- The team leader has at least 10 years of experience and members have at least 03 years of experience in the field of consulting on implementation, assessment of ESG practice reports, and sustainable development, development of ESG practice guidance
V. Application procedure:
Interested candidate(s) should submit their applications to vietnamconsulting@wcs.org by 17:00 on August 31, 2025. The application should include:
1. A technical proposal including the operational profiles, personnel plan, CVs, and links to or soft copies of related products
2. Financial proposal (in VND, estimated total number of working days and daily rates of member(s), field trips costs, if any, including all taxes and fees such as personal income tax, VAT, etc.)
Note:
- Email vietnamconsulting@wcs.org to request a more detailed TOR, suggested templates for technical and financial proposals.
- Only shortlisted candidate(s) will be contacted