Vietnam’s innovative low carbon projects join climate finance accelerator

Nine low-carbon projects from across Vietnam have been announced as the first cohort to join Climate Finance Accelerator (CFA) Vietnam, the British Embassy in Vietnam announced yesterday.
A forest in HCMC's Can Gio outlying district

A forest in HCMC's Can Gio outlying district

The selected projects including Blue Planet Environmental Solutions, Control & Automation Solutions (CAS), Dat Bike, Deep C Green, Egreen Technology JSC, represent diverse sectors such as renewable energy, resource/energy efficiency, e-mobility, AFOLU (agriculture, forestry and other land uses), decarbonising construction, circular economy, and waste management and have the potential to benefit communities across Vietnam .

To improve project readiness and opportunity to attract investment from Vietnamese and international investors, the projects will receive tailored one-to-one and group support. This will include advice on technical aspects, financial models, and pitch material, as well as advice on enhancing gender equality and social inclusion (GESI).

The Climate Finance Accelerator (CFA) is a £11.8 million technical assistance program funded by International Climate Finance (ICF), through the UK Government’s Department for Energy Security and Net Zero (DESNZ). The CFA is implemented in nine countries such as Colombia, Egypt, Mexico, Nigeria, Pakistan, Peru, South Africa, Turkey and Vietnam, and is working to develop a sustainable pipeline of bankable, low-carbon projects in each country.

British Ambassador to Vietnam Iain Frew said that the exciting and innovative projects selected to be part of CFA Vietnam underline the significant potential of the Vietnamese private sector to help tackle the climate crisis. The expertise shared with these projects will help move them closer to finding investment, leading to reductions in carbon emissions for communities across the country.

Following the capacity building and mentoring sessions, the projects will meet with investors and financial institutions at a workshop in May 2023. This will allow project developers to further refine their financial structuring through personalized discussions with interested financial institutions. The event will also provide an opportunity for participants to network and for policymakers to understand the challenges faced by other stakeholders in the climate finance space.

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