Context
Viet Nam is committed to increasing climate protection and aims to become carbon neutral by 2050. This requires comprehensive market and regulatory reforms to facilitate investments and thus achieve a rapid energy transition. Although there are already policies and strategies to support low-carbon development and energy transition in place, implementation is fragmented. Clear policy guidelines and instruments are often lacking. Moreover, there are inadequate national public and private funds for the investments required. At the same time, insufficient knowledge in the financial institutions and the private sector is hindering investment.
Objective
Implementation of environmentally friendly policies and the investment framework for enhanced climate protection in Viet Nam have improved.
Approach
The project supports the financing and implementation of low-carbon, climate-friendly technologies and practices in Viet Nam. It develops the knowledge and skills of the relevant actors, especially in the private sector and in ministries. It also promotes favourable policy frameworks and the availability of funding. The project works with Agora, the International Finance Corporation (IFC), the Dutch development organisation Stichting Nederlandse Vrijwilligers (SNV), the United Nations Development Programme (UNDP) and the Banking Academy of Vietnam (BAV).
The project works in four fields of activity to promote:
- Better policies for public and private green investment, for example through implementation of the national green growth strategy
- Stronger policies and regulations for the energy transition, for example through analyses of the use of environmentally friendly technologies and recommendations for greenhouse gas pricing
- More green financing by banks, for instance through the implementation of green risk analyses and training in the development of green financial products
- Increased green private sector investment, for example through the development of green pilot projects and innovation funds
Last update: October 2023