Vietnam’s high carbon emissions are presenting a significant challenge to achieving its 2050 net-zero goal. Experts highlight the need for the Government and businesses to rapidly green the economy and cut emissions by 78%. Transitioning to sustainable development requires a comprehensive approach involving government policies, private sector investment, and technological innovation. Last week, experts, officials, and business executives from various sectors gathered at the Sustainable Development 2024 event, organized by the Saigon Times Group in HCMC, to discuss what should be done to meet the ambitious carbon neutrality target. Held under the theme “Accelerating the Economy Toward Net-Zero,” as part of the annual Green Economy Forum series, the event focused on key issues such as policy reform, financing, and corporate restructuring essential for achieving Vietnam’s 2050 climate goals. Financing Vietnam’s green future While the global shift toward low-carbon investments is gaining momentum, Vietnamese businesses are struggling to secure necessary funding for green initiatives. Currently, green credit from domestic banks represents only 4.5% of total outstanding loans, according to experts. Dyi Chang Lim, head of Commercial Banking at UOB Vietnam, explained that low-carbon sectors include industries that reduce greenhouse gas emissions and prioritize sustainability. These sectors range from renewable energy and […]
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