Ms. Ho Thi Quyen, Deputy Director of the Ho Chi Minh City Investment and Trade Promotion Center (ITPC) on June 23 said that carbon emission requirements, product traceability and sustainability standards are increasingly becoming prerequisites for export markets. To remain competitive, businesses must not only green their production processes but also proactively leverage emerging financial instruments that support sustainable growth.
Mr. Pham Dang An, Deputy General Director of Vu Phong Energy Group, noted that Vietnam’s successful transfer of 10.3 million forest carbon credits through the World Bank, generating US$51.5 million in revenue, demonstrates that carbon credits are increasingly becoming an asset with tangible economic value. The achievement opens opportunities for enterprises and localities to participate in emission-reduction activities while creating new income streams from the green transition.
According to Mr. Pham Dang An, the global shift toward sustainability has fueled the rapid development of carbon markets, turning them into an important financial mechanism. In addition to mitigating environmental impacts, projects involving energy efficiency, renewable energy, forest conservation, and emissions reduction in manufacturing can generate carbon credits for trading on the market.
He added that businesses that proactively establish systems to measure, monitor, and reduce emissions will not only be better positioned to comply with international standards but will also gain a competitive advantage when Vietnam’s domestic carbon market officially becomes operational.
To support enterprises in implementing low-carbon and sustainable development projects, Vietnam’s green finance ecosystem is continuing to grow. According to ITPC, outstanding green credit loans have reached nearly VND621 trillion (US$24 billion), helping provide additional resources for businesses to invest in energy-saving technologies, emissions reduction measures and green transformation initiatives.
The expansion of green credit is expected to play a crucial role in accelerating Vietnam’s transition toward a low-carbon economy while enhancing the competitiveness of domestic businesses in increasingly sustainability-focused global markets.
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