Need to develop carbon market and green finance soon

Nguyễn Linh |

Carbon markets and green finance are priorities that need to be implemented soon and also require the cooperation of the political system and businesses.

On November 21, the Workshop with the theme Digital technology promotes green transformation: Development opportunities organized by Vietnam Economic Times in collaboration with the Center for Natural Resources and Environment Communication (Ministry of Natural Resources and Environment) and relevant agencies was held in Da Nang.

This workshop helps relevant ministries, businesses, and economic experts exchange directly, clarify, and make transparent information about the application of digital technology to promote green transformation. Effectively promoting capital resources will create momentum to promote the development of new economic models. Especially for localities like Da Nang, to attract investment, organizations and businesses can access and fully grasp relevant information, thereby building appropriate and effective strategies and plans.

Green investment and green financial markets are not only a trend but have become a commitment of many economies and businesses. To date, about 140 countries have committed to or are moving towards the Net Zero target.

To realize the Net Zero commitments for Vietnam by 2050 and the commitment to attract green financial flows to develop renewable energy and low-carbon development, the Government has made efforts to implement solutions with practical actions. Vietnam has built NDC (Nationally Determined Contributions) with the determination to reduce greenhouse gas emissions by 43.5% compared to the BAU (Business as Usual) development scenario with international support by 2030.

According to Mr. Doan Truong Giang, Deputy Director of the Center for Natural Resources and Environment Communication, Vietnam is currently implementing a green growth strategy and a national strategy on climate change for the period up to 2050.

"To solve the problem of resource shortage for green growth and climate change response, in addition to promoting internal resources, Vietnam needs to strengthen cooperation and support from the international community. In particular, developing a green financial market and a carbon market are priorities that need to be implemented soon and require the joint efforts of the entire political system and the business community," said Mr. Doan Truong Giang.

Nguyễn Linh