Green transformation, a mandatory requirement in the new context
On the morning of March 28, the Vietnam General Confederation of Labor and Lao Dong Newspaper in coordination with the Ministry of Agriculture and Environment launched a series of events on Green Transformation Day 2025 with the theme: "Green Transformation - Joining hands for a sustainable Vietnam". The ceremony was held at the Editor's Office of Lao Dong Newspaper, No. 6 Pham Van Bach, Cau Giay, Hanoi.
Speaking at the opening ceremony, Deputy Minister of Agriculture and Environment Le Cong Thanh emphasized that this is not only a meaningful event for the agricultural and environmental sector, but also plays an important role for the community, businesses and individuals in society.
According to the Deputy Minister, green transformation is no longer a single choice or trend, but has become a mandatory requirement in the context of Vietnam facing a series of challenges from climate change, environmental pollution, decline in natural resources and extreme climate phenomena. These factors are directly affecting people's lives and the orientation of sustainable development of the country.
We clearly see that many businesses have considered green business as a competitive strategy, especially large corporations and foreign-invested enterprises are actively switching to a low-carbon economic model. However, most small and medium-sized enterprises are still confused, even not fully understanding the nature and role of green transformation, Mr. Thanh commented.
Citing the viewpoint at the 13th National Party Congress, he said that green transformation along with digital transformation are identified as two fundamental factors for Vietnam to become a developed, powerful and prosperous country by 2045.
Completing the legal framework, promoting the carbon market
The Government has been stepping up action with the National Strategy on Green Growth for the period 2021-2030, with a vision to 2050, along with specific action plans. Most recently, Directive 44/CT-TTg dated December 9, 2024 of the Prime Minister, requesting to promote the implementation of green growth solutions. In particular, the Ministry of Agriculture and Environment plays a key role in environmental protection, nature conservation, improving mechanisms on carbon credits, environmental criteria and promoting a circular economy.
Another important milestone is Decision 232/QD-TTg signed by Deputy Prime Minister Tran Hong Ha on January 24, 2025, approving the Project to establish and develop a carbon market in Vietnam. The goal is to promote greenhouse gas emission reduction at optimal costs, while creating new funding for green development activities, towards net zero emissions by 2050.
Mr. Thanh also added that relevant ministries and branches are urgently completing the legal framework to pilot a carbon trading floor before June 2025, while improving the capacity of state management and market participation of businesses and the community.
However, he also frankly acknowledged the current shortcomings in the green criteria system in Vietnam. Many new green project categories are for reference only, lacking a basis for classification according to screening criteria or international standards. Banks also have difficulty funding environmentally friendly projects because there is no clear set of criteria, he said.
Faced with that reality, the Ministry of Agriculture and Environment has submitted to the Prime Minister a Draft Decision to issue environmental criteria for investment projects granted green credit and issued green bonds, as a legal basis for evaluating, confirming and promoting the development of projects with clear and transparent environmental benefits.
Green transformation is not an individual problem, but a common responsibility of the whole society, Deputy Minister Le Cong Thanh affirmed. He expressed his hope that the launching ceremony and series of events of Green Transformation Day 2025 will create a strong influence, raising awareness of the community, businesses and stakeholders about the key role of sustainable development.
We hope to listen to recommendations and initiatives from experts, businesses, and people to jointly remove bottlenecks in the green transformation process, especially creating a favorable environment for investment in green fields, contributing to improving public health and ensuring national energy security, said Mr. Thanh.
He also believes that, with the determination of the Government and the consensus of the whole society, green transformation will not only be a trend but will become a new growth driver, helping Vietnam achieve the GDP growth target of over 8% by 2025 and aim for double-digit growth in the following years.
