HANOI, Sept 23 (NNN-VNA) – Vietnam’s climate investment opportunities will reach up to 757 billion U.S. dollars by 2030, focusing on renewable energy, green construction, energy efficiency and transportation, according to the latest statistics of the International Finance Corporation (IFC).
Vietnam’s climate finance sector is still facing significant challenges, in ensuring a strong alignment between major investment opportunities and environmental goals, Allen Forlemu, IFC’s regional industry director for Financial Institutions Group, Asia and Pacific, was cited as saying.
He proposed changing the way banks operate and transitioning to sustainability.
The IFC also recommended Vietnam focus on scaling green infrastructure, particularly green energy, green transport, energy efficiency and green buildings, and the transition from “brown” and heavy industries towards sustainable and low carbon pathways, exposing an enormous long-term funding gap.
State Bank of Vietnam Deputy Governor, Pham Thanh Ha, said, the Vietnamese government is introducing a green finance classification system, to promote and guide the expansion of sustainable investments.
Vietnam made the commitment to achieve net-zero emissions by 2050, phase out coal power by 2040, and reduce methane emissions by 30 percent from 2020 levels by 2030.– NNN-VNA
