Green transition: A trend that is difficult to reverse
Although the COP29 conference has just ended with many negative signals: some countries expressed concerns about costs, energy pressures and postponed some climate commitments. Some countries (including Argentina) had to adjust or delay commitments due to economic difficulties, however, most experts still affirm that green transition is an inevitable trend.
Balancing economic growth and emissions reduction targets is no easy task, but if green investment is halted or slowed, countries could face greater environmental and energy security risks in the future.
In many major markets such as Europe and the US, businesses continue to apply ESG (environmental, social and governance) indicators to meet international standards. Similarly, in Vietnam, corporations such as Vingroup, Vietcombank or PVN are urgently implementing green initiatives, expanding opportunities to access capital and foreign partners.
Clean energy continues to be a bright spot. The International Energy Agency (IEA) forecasts that global wind and solar capacity will increase significantly in 2025-2026. Although some countries have postponed or scaled back some renewable energy projects due to costs, the majority of the market remains consistent that green electricity is the long-term path. In Vietnam, many wind and solar projects are receiving support from the Government and international investors.
Adjusting doesn't mean slowing down
Transport is a closely watched sector after COP29. Germany, Japan and some Nordic countries are pushing ahead with plans to phase out fossil fuel vehicles, while others are slowing down to avoid cost shocks. But experts say this is not a step backwards, but a sensible adjustment to ensure long-term sustainability.
In Vietnam, VinFast is gradually dominating the electric vehicle segment. People are gradually changing their awareness and actively supporting green vehicles. These actions are expected to help reduce emissions and build a green foundation for the future transportation industry.
In addition, the circular economy is increasingly asserting its value. The Organization for Economic Cooperation and Development (OECD) has recognized many businesses around the world implementing the recycling - reuse model, both saving resources and reducing waste pressure.
In Vietnam, many "big guys" such as Trung Nguyen and Vinamilk have taken pioneering steps in integrating this model into the production line.
Green Finance and Digital Technology: A Crucial Boost
According to the Financial Times, sustainable investment funds are growing rapidly in both size and number. In Vietnam, the State Bank of Vietnam is also promoting green credit, supporting capital for businesses investing in clean energy and sustainable infrastructure.
In terms of digital technology, the disruptive role of AI, IoT and blockchain in supply chain management and emissions monitoring cannot be denied. Forbes predicts that this will be an important piece to help accelerate the green transition in the post-COP29 period.
In Vietnam, large technology corporations such as Viettel and FPT are testing digital solutions to help businesses improve production efficiency and reduce negative impacts on the environment.
Although some countries have changed their commitments after COP29, most remain committed to the goal of carbon neutrality. Financial institutions such as the World Bank and the International Monetary Fund continue to invest in green projects across Asia, Africa and Latin America. This cooperation helps developing countries receive both financial resources and technology, shortening the green transition gap.
Green transformation is not just a “fashion” but has become a vital strategy to maintain sustainable growth. The temporary slowdown in some countries does not mean an interruption in the process, but is largely a review and adjustment to suit socio-economic realities. At the corporate level, investing in green technology, green finance and sustainable models is the ticket to survive and break through in the fierce global market.
