Vietnam needs about 30 billion VND (1.4 million USD) to reduce CarbonDioxide - CO2 emissions in its industry sector from now to 2020, whichis quite a big challenge on its way to achieve a sustainable economicdevelopment. A report by the Ministry of Industry and Trade's VietnamEconomic Times.
Targeting green growth and a low carboneconomy and enriching natural capital have become a key tendency insustainable economic development and response to environmentaldegradation of many Asian countries, including Vietnam.
The“National strategy on green growth in the 2011-2020 period with visionuntil 2050” specifies that by 2020, Vietnam will reduce greenhouse gasemission intensity from 8-10 percent compared to the 2010 level, energyconsumption per capital be reduced by 1-1.5 percent per year, cutgreenhouse gas emissions in activities using energy from 10-20 percentcompared with normal development plans, of which the voluntary level isabout 10 percent and the remainder 10 percent to be obtained whenreceiving international aids.
By 2030, the greenhouse gasemissions each year will reduce at least by 1.5-2 percent, thegreenhouse gas emission volumes in activities using energy will be cutfrom 20-30 percent compared with normal development plans, of which thevoluntary level is about 20 percent and the remainder to be obtainedwhen receiving international aids. By 2050, the greenhouse gas emissionintensity will be reduced by 1.5-2 percent each year.
According to this strategy, Vietnam will green production processes,implement a “clean industrialisation” strategy through checking andadjusting plans of current sectors. It will also utilise naturalresources economically and efficiently, encourage the development ofgreen industries, agriculture with environmentally-friendly equipmentand technology, develop natural capital, actively prevent and treatpollutions.
Over the past decade, each year climate changehas caused damages worth about 2-6 percent of Vietnam’s GDP and theGovernment spent about 1 billion USD a year on climate change projectsand programmes, including green growth through national targetprogrammes plus projects and programmes directly related to climatechange and green growth.
Since 1993, the Government has spentabout 2 billion USD of official development assistance capital for thegreen growth related projects and programmes. In addition, internationalorganisations and funds have also provided financial or technical aidssuch as the Programme on Reducing Emissions from Deforestation andForest Degradation in Developing Countries (REDD+), the VietnamEnvironment Protection Fund and the Clean Development Mechanism (CDM).
Vietnam’s national strategy on green growth has been highlyappreciated and made a good contribution to implementing the nationalstrategy on climate change.
However, many experts said financial allocations for green growth related projects and programmes remained scattered.
Meanwhile,Vietnam needs 30 billion USD to reduce greenhouse gas emissionintensity from 8-10 percent compared to the 2010 level. In a bid toraise this source of capital, Vietnam needs to integrate the green andsustainable growth demand into its economic development program for fiveor 10 years and adopt suitable mechanism to raise capital, especiallyfrom the private sector and international partners.
At arecent conference on approaching financial resources for green growthand low emission development strategy in Hanoi, the head of the Ministryof Planning and Investment's Department of Science, Education, NaturalResources and Environment, said new ways to approach funding for greengrowth and respond to climate change in Vietnam have appeared to meetrising demand for public investment, ODA from internationalorganisations and funds without active participation of the privatesector. Therefore, in the future, Vietnam needs to carry out some pilotprojects to encourage investors, especially the private sector toparticipate more actively in green growth.
A representativefrom the Ministry of Industry and Trade when addressing the seminar onadopting policies relating to green growth and climate change in Vietnamsuggested that a regular coordinate mechanism needs to be draftedbetween related agencies; integrate climate change programs in plans andstrategies. The state needs to ensure funding for green growth and lowgreenhouse gas emission so that the relevant ministries and sectorscould be more initiative in setting up plans, especially allocating thefunding for pilot investment works and low emissions technologies.-VNA
Targeting green growth and a low carboneconomy and enriching natural capital have become a key tendency insustainable economic development and response to environmentaldegradation of many Asian countries, including Vietnam.
The“National strategy on green growth in the 2011-2020 period with visionuntil 2050” specifies that by 2020, Vietnam will reduce greenhouse gasemission intensity from 8-10 percent compared to the 2010 level, energyconsumption per capital be reduced by 1-1.5 percent per year, cutgreenhouse gas emissions in activities using energy from 10-20 percentcompared with normal development plans, of which the voluntary level isabout 10 percent and the remainder 10 percent to be obtained whenreceiving international aids.
By 2030, the greenhouse gasemissions each year will reduce at least by 1.5-2 percent, thegreenhouse gas emission volumes in activities using energy will be cutfrom 20-30 percent compared with normal development plans, of which thevoluntary level is about 20 percent and the remainder to be obtainedwhen receiving international aids. By 2050, the greenhouse gas emissionintensity will be reduced by 1.5-2 percent each year.
According to this strategy, Vietnam will green production processes,implement a “clean industrialisation” strategy through checking andadjusting plans of current sectors. It will also utilise naturalresources economically and efficiently, encourage the development ofgreen industries, agriculture with environmentally-friendly equipmentand technology, develop natural capital, actively prevent and treatpollutions.
Over the past decade, each year climate changehas caused damages worth about 2-6 percent of Vietnam’s GDP and theGovernment spent about 1 billion USD a year on climate change projectsand programmes, including green growth through national targetprogrammes plus projects and programmes directly related to climatechange and green growth.
Since 1993, the Government has spentabout 2 billion USD of official development assistance capital for thegreen growth related projects and programmes. In addition, internationalorganisations and funds have also provided financial or technical aidssuch as the Programme on Reducing Emissions from Deforestation andForest Degradation in Developing Countries (REDD+), the VietnamEnvironment Protection Fund and the Clean Development Mechanism (CDM).
Vietnam’s national strategy on green growth has been highlyappreciated and made a good contribution to implementing the nationalstrategy on climate change.
However, many experts said financial allocations for green growth related projects and programmes remained scattered.
Meanwhile,Vietnam needs 30 billion USD to reduce greenhouse gas emissionintensity from 8-10 percent compared to the 2010 level. In a bid toraise this source of capital, Vietnam needs to integrate the green andsustainable growth demand into its economic development program for fiveor 10 years and adopt suitable mechanism to raise capital, especiallyfrom the private sector and international partners.
At arecent conference on approaching financial resources for green growthand low emission development strategy in Hanoi, the head of the Ministryof Planning and Investment's Department of Science, Education, NaturalResources and Environment, said new ways to approach funding for greengrowth and respond to climate change in Vietnam have appeared to meetrising demand for public investment, ODA from internationalorganisations and funds without active participation of the privatesector. Therefore, in the future, Vietnam needs to carry out some pilotprojects to encourage investors, especially the private sector toparticipate more actively in green growth.
A representativefrom the Ministry of Industry and Trade when addressing the seminar onadopting policies relating to green growth and climate change in Vietnamsuggested that a regular coordinate mechanism needs to be draftedbetween related agencies; integrate climate change programs in plans andstrategies. The state needs to ensure funding for green growth and lowgreenhouse gas emission so that the relevant ministries and sectorscould be more initiative in setting up plans, especially allocating thefunding for pilot investment works and low emissions technologies.-VNA
