Illustrative image (Source: VNA) HCM City (VNA) – Promoting investment ingreen growth was the focus of a forum on sustainable finance in Ho Chi MinhCity on May 28.
Participants at the event, who included expertsfrom management agencies like the Ministry of Planning and Investment, theState Bank and the State Securities Commissions, commercials banks andinternational and domestic investment funds, discussed measures to push theimplementation of green growth strategy targets.
They also looked for ways to mobiliseinvestment capital for climate change adaptation projects as Vietnam is facingincreasing challenges from climate change.
The International Financial Corporation (IFC)forecasted that from now until 2030, investment in climate-related projects inVietnam could amount to 753 billion USD, including 59 billion USD in renewableenergy and 80 billion USD in green works.
Experts said that investment flow and fundingfrom the private economic sector has a crucial role in sustainable developmentstrategy. Therefore, it is necessary to create favourable policies to accessgreen growth funds from this sector.
Secretary General of the Vietnam BanksAssociation Nguyen Toan Thang said that credit institutions should make moreefforts to implement international practices on sustainable development. Thiswill help to effectively manage environmental, social, and governance risks incredit operations, as well as develop financial products.
Kyle Kelhofer, IFC country manager for Vietnam,Laos, and Cambodia, said IFC is closely coordinating with management agencies andfinancial institutions to help create a market for climate business in Vietnam,as well as in the entire Southeast Asian region.
At the forum, experts also discussed the role ofthe banking sector in realising national sustainable development goals, as wellas policy initiatives and market solutions to promote investment and funds forsustainable development.–VNA
VNA
