Vietnam has committed to major reductions in Greenhouse Gas (GHG) emission growth as part of the National Green Growth Strategy, designed to meet Vietnam’s Nationally Defined Contributions (NDCs) to the Paris Agreement on climate change. There is a major gap in financing projects and technologies required to meet these targets, and a recognition that a national Green Finance Institution needs to play a key role in mobilising private sector finance both domestically and internationally.
Underpinning the recommendations was an extensive research and analysis exercise, including a study of the supply and demand dynamics, key financial, economic, and policy constraints, and a thorough stakeholder analysis. The consulting team also has extensive experience in designing green finance mechanisms around the world.
Following the finalisation of this report, the team aims to continue work closely with the Vietnamese government, national experts and key stakeholders to develop a robust business plan based on the key recommendations, with a view to realising an operational institution as soon as possible.
Vivid Economics, in consortium with The Asia Foundation and GBRW Consulting, presented their milestone report titled ‘Supporting green investment in Vietnam: The role for a Green Finance Institution’ to an expert advisory group on 11th April. Funded by ClimateWorks Foundation and supported by the State Bank of Vietnam, the study aims to develop a feasible plan for the establishment of a national Green Finance Institution, designed to catalyse and leveragethe flow of private sector finance to green projects. Following a successful review of the key recommendations by an advisory group of green sector and finance experts at a conference at Hoa Binh hotel on 11th April, the report was finalised and circulated amongst key stakeholders. Interested parties should make contact to ensure they receive a copy.