Raising funds for green growth remains challenging due to various factors, including legal gaps. High demand for green finance Recognizing the importance of sustainability, the Vietnamese Government introduced the 2011-2020 National Green Growth Strategy in 2012. On October 1, 2021, the prime minister launched the National Green Growth Strategy for the 2021-2030 period, with a vision to 2050, which targets achieving net zero emissions by 2050. Vietnam has made significant commitments to promoting green growth and sustainable development. At the UN Climate Change Conference in Glasgow (COP26) in 2021, Prime Minister Pham Minh Chinh announced the country’s goal to phase out coal power generation by the 2040s and achieve net-zero carbon emissions by 2050. Vietnam has also joined the Asia Zero Emissions Community (AZEC) initiative and the political declaration to establish the Just Energy Transition Partnership (JETP). However, to meet these ambitious targets, Vietnam requires substantial investment capital. The Ministry of Natural Resources and Environment reports that the financial need for emission reduction measures, in line with Vietnam’s environmental commitments by 2030, is estimated at around US$68.75 billion. Of this total, domestic resources are expected to provide US$25 billion, or 36% of the required amount. The World Bank’s Country Climate […]
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