Forum seeks to promote investment in green growth
Promoting investment in green growth was the focus of a forum on sustainable finance in Ho Chi Minh City on May 28.
Illustrative image (Source: VNA)HCM City (VNA) – Promoting investment in green growth was the focus of a forum on sustainable finance in Ho Chi Minh City on May 28.
Participants at the event, who included experts from management agencies like the Ministry of Planning and Investment, the State Bank and the State Securities Commissions, commercials banks and international and domestic investment funds, discussed measures to push the implementation of green growth strategy targets.
They also looked for ways to mobilise investment capital for climate change adaptation projects as Vietnam is facing increasing challenges from climate change.
The International Financial Corporation (IFC) forecasted that from now until 2030, investment in climate-related projects in Vietnam could amount to 753 billion USD, including 59 billion USD in renewable energy and 80 billion USD in green works.
Experts said that investment flow and funding from the private economic sector has a crucial role in sustainable development strategy. Therefore, it is necessary to create favourable policies to access green growth funds from this sector.
Secretary General of the Vietnam Banks Association Nguyen Toan Thang said that credit institutions should make more efforts to implement international practices on sustainable development. This will help to effectively manage environmental, social, and governance risks in credit operations, as well as develop financial products.
Kyle Kelhofer, IFC country manager for Vietnam, Laos, and Cambodia, said IFC is closely coordinating with management agencies and financial institutions to help create a market for climate business in Vietnam, as well as in the entire Southeast Asian region.
At the forum, experts also discussed the role of the banking sector in realising national sustainable development goals, as well as policy initiatives and market solutions to promote investment and funds for sustainable development.–VNA
You should also see
Vietnam attends international security meeting in Russia
A Vietnamese delegation led by Minister of Public Security General To Lam is attending the 12th International Meeting of High Representatives for Security Issues in Russia’s St. Petersburg city from April 23-25.
See more
Environment
Hoa Phat steel products certified to meet greenhouse gas inventory standard
Vietnamese steel giant Hoa Phat Group has announced that BSI - the UK's leading international certification organisation - certified ISO 14064-1:2018 standard and ISO 14067:2018 on greenhouse gas inventory for steel products of its subsidiary - Hoa Phat Dung Quat Steel JSC.
Environment
Vietnam supports global agreement on plastic pollution
A delegation of Vietnamese negotiators joined those from 176 countries worldwide at the fourth session of the Intergovernmental Negotiating Committee (INC-4) on plastic waste in Ottawa, Canada, on April 23.
Environment
Consultation workshop on Cambodia’s Funan-Techo canal held in Can Tho
The Vietnam National Mekong Committee (VNMC) on April 23 held a consultation workshop on Cambodia’s proposed Funan-Techo canal project which has raised concerns about potential impacts on the Mekong river.
Environment
Up to 1,000 ban flowers planted at Dien Bien Phu battlefield relic sites
About 1,000 ban (Bauhinia variegate) flower trees were planted at relic sites such as A1 Hill, Him Lam resistance centre and De Castries Bunker at Dien Bien Phu battlefield relic complex in the northern province of Dien Bien on April 21.
Environment
Vietnam acts to combat white pollution
The Vietnamese Government has issued a lot of policies, participated in various forums, and promoted international cooperation, demonstrating its activeness and affirming its determination to reduce plastic waste and join global efforts toward a planet without white pollution.
