The active participation of the business community, especially the private sector and consumers, will also promote the creation of a wave of green economic development and build a sustainable foundation for green growth. (Source: baotainguyenmoitruong.vn) HCM City (VNA) – Vietnam’s commitment to netzero emissions (Net Zero) by 2050 at the 2021 United Nations Climate ChangeConference (COP26) is a milestone for the development of a green economy in thecountry.
However, on the pathway to Net Zero, there are not onlyopportunities but also challenges for both the nation and businesses, expertsshared on August 18 at the Green Economy Forum 2023, held by the Saigon Timesgroup in Ho Chi Minh City.
At the forum themed “Net Zero – Pathway Toward Sustainability”,experts said approaching Net Zero is both a responsibility and an opportunityfor the business community; in which the “early birds” will enjoy the advantageof being pioneers.
In addition, enterprises that position their brands earlier inthe changing consumer trends will exploit the potential of marketdiversification, especially in promoting import and export activities.
The active participation of the business community, especiallythe private sector and consumers, will also promote the creation of a wave ofgreen economic development and build a sustainable foundation for green growth.Therefore, the Government and localities need to have mechanisms and policies for breakthrough innovation to support enterprises in transforming their production and business models, and to increase publicawareness of green and sustainable development.
Experts and businessmen engage in an discussion at the event. (Photo: VNA) Regarding Net Zero, Prof. Dr. Jonathan Pincus, SeniorInternational Economist at the United Nations Development Programme (UNDP) saidthat energy transition, application of renewable energy, and energy savingare among important issues. To realize the transition, both the nationaleconomy and business activities need technological solutions,using energy-saving materials, and developing renewable energy.
Meanwhile, Ha Dang Son, Deputy Chief of Party (Technical) of the USAIDVietnam Low Emission Energy Programme II (V-LEEP II) said that it is necessaryto see renewable energy development as an opportunity, but opportunities onlycome when there are mechanisms and policies to promote. Each country must havea long-term plan, especially for Vietnam, it should promote business modelssuitable to the renewable energy market and green growth goals.
Currently, many domestic and foreign banks and organisationshave strong commitments to supporting Vietnam's green transition. However,how to use the capital to serve this goal in Vietnam is an issue that requires the support of ministries and agencies, Son said, addingthat investors always seek a long-term plan.
Phan Van Mai, Chairman of the Ho Chi Minh City People'sCommittee said that the city issued a strategy and plan to develop a greeneconomy through building green transition policies and mechanisms in industries andfields, including energy, technology, andmanufacturing and businesses.
The city wants to realise the goals of sustainable development, andgreen growth, he said, adding Can Gio district was selected as a pilot locality for greenenergy transition and carbon emission reduction./.
