Vietnam takes action to promote green growth

Since the COP26 was held a year ago in Glasgow, the UK, Vietnam has been implementing multiple activities to realize its commitment to net zero emission by 2050.

Vietnam set up a National Steering Committee headed by the Prime Minister to realize the commitment. The PM adopted a project on tasks and solutions and several programs to realize Vietnam’s commitment at COP26.

This week, Danish toy maker LEGO began construction of a neutral carbon factory in the southern province of Binh Duong. These evidence Vietnam’s efforts to become a green investment destination.

This month, the European Chamber of Commerce in Vietnam (EuroCham) will organize a Green Economy Forum and Exhibition (GEFE 2022) in Ho Chi Minh City where more than 150 European businesses will introduce their green products, green initiatives and green economic models to help Vietnam realize its commitments at COP26.

Vietnam is also a potential candidate to attracting green finance. At the Global Green Growth Week in Seoul last month, an agreement to set up a Carbon Transaction Platform was reached. The platform serves as a foundation for member countries including Vietnam to carry out international carbon transactions under the Paris Agreement on Climate Change. It allows countries to buy and sell carbon credits on a fair playground while ensuring benefits of selling countries.

Early this year, the Global Green Growth Institute helped Vietnam issue the first green bonds worth 75 million USD.