Speaking at the opening session, Chairman of the People’s Committee of Ho Chi Minh City Phan Van Mai informed that Ho Chi Minh City was identified as one of the ten cities in the world hugely impacted by climate change.
The latest study report of the Environment – Natural Resources Institute under Vietnam National University, Ho Chi Minh City showed that the total greenhouse gas emissions in the city top 60 million tons of CO2 on average every year.
Of which, around 20 million tons of CO2 emissions come from industrial activities, over 13 million tons from transport activities and the rest ones from daily and other activities.
Ho Chi Minh City set a target of emission reduction by ten percent in 2030 under the action plan of dealing with climate change in the period of 2021 – 2030, aiming at building a convenient, safe and effective living and working environment for residents and enterprises.
Through the conference, Ho Chi Minh City desires to promote innovative initiatives and cooperation with countries all over the world and call for private investment to step by step transform into a green and sustainable economy.
World Bank Country Director for Vietnam, Asia-Pacific Region, Carolyn Turk said that the target of 10 percent CO2 emission reduction was an ambition but it could be obtained with appropriate strategies.
The World Bank is expected to accompany Ho Chi Minh City in implementing economic development strategies with emission reduction.
Ho Chi Minh City and World Bank (WB) established HCMC - WB Joint Working Group (HWG) two years ago which brought some achievements comprising an investment package of US$650 million for a ten-year program along with an investment program to upgrade public assets, an integrated flood management program and so on.
In addition, the World Bank also committed to supporting Ho Chi Minh City to access financial sources and attract foreign sources to reduce carbon emissions.
According to World Bank Country Director for Vietnam, Asia-Pacific Region, Carolyn Turk, the carbon credits market would be a good resource. She hoped that Ho Chi Minh City can sell credits on the Voluntary Carbon Market.
In addition, the WB desires to help Ho Chi Minh City to gather carbon credits to create a large volume enough for international trading and cost reduction.
The investment conference for Ho Chi Minh City's green growth has taken place within the framework of green and sustainable growth development activities of the Ho Chi Minh City - World Bank Joint Working Group.
The event has attracted hundreds of local and foreign delegates, international institutions, organizations, representatives of diplomatic agencies, consular agencies, domestic and foreign businesses and experts.
