The global shift towards green capital
The global shift towards green capital is gaining momentum with impressive figures. According to BloombergNEF, total investments in energy transition globally reached a record high of $2.1 trillion in 2024, an 11% increase from the previous year. Of this, electric transport accounted for the largest share with $757 billion, followed by renewable energy at $728 billion, and electricity grids at $390 billion. [1] Notably, 2025 is expected to be a pivotal year as, for the first time in history, investments in clean technologies are projected to reach $670 billion, surpassing investments in oil and gas. [2] Among these, solar energy accounts for 50% of total investments and two-thirds of new installed capacity. [3]
However, to achieve the goal of tripling renewable energy capacity by 2030, current investment levels are still insufficient. According to IRENA, annual investments in renewable energy capacity need to triple, increasing from a record $570 billion in 2023 to $1.5 trillion per year during 2024-2030. [4]
To reach the net-zero emissions target by 2050, BloombergNEF estimates that average annual investments of $5.6 trillion are required during 2025-2030, significantly higher than the current investment levels which only meet 37% of the requirement. China is leading in capital efficiency for renewable energy investments, with the ability to generate nearly double the gigawatts per dollar spent compared to the US. China’s total investment in 2024 also surpassed the combined total of the US ($338 billion), EU ($381 billion), and the UK ($65.3 billion). [5]
Green FDI inflows from Europe
Green FDI inflows from Europe are making significant strides, with Denmark as one of the pioneering countries. The Danish government has launched the Green Investment Program with a budget of 1 billion DKK (approximately $145 million) for 2024. This program focuses on promoting investments in green technologies through financial grants and preferential guarantees, with direct support of up to 15% of investment costs and loans or preferential guarantees that can cover up to 20% of the costs. [6]
Notably, Denmark has committed to supporting Vietnam in the field of green energy through the Vietnam-Denmark Energy Partnership Program for the period 2021-2025 with a non-refundable grant of 60.3 million DKK (equivalent to $10 million). This program focuses on the development of offshore wind power and the promotion of energy efficiency in the industrial sector. [7]
In terms of the green bond market, Europe is leading the way with the participation of 145 issuing organizations, accounting for one-third of the global total. [8] According to a World Bank report, the total value of green, social, sustainable, and sustainability-linked bonds (GSSS) issued globally reached approximately $5.7 trillion. In the first half of 2024 alone, the value of green, social, and sustainable bond issuances amounted to $636 billion, with green bonds accounting for 60% at $382 billion. In Europe, countries that have successfully transitioned to green growth have seen GSS bond issuances make up 50-60% of the total green finance volume. This figure is significantly higher than in Asia, which only reaches about 30-35%. [9]
Investment wave from the US
The investment wave from the US is showing positive signals despite policy changes. According to S&P Global Market Intelligence, solar energy is expected to account for 51.7% of total additional capacity in 2025, equivalent to 63.1 GW. Energy storage batteries contribute 35.5%, while wind power accounts for 12.9%. The Inflation Reduction Act (IRA) is proving to be highly effective. The American Clean Power Association estimates that the IRA could generate a net benefit of $2.7 trillion in the 2025-2035 period, compared to a cost of $656 billion. [11] This act will unlock $740 billion in tax credits, spur $2 trillion in private investments, including $400 billion in electricity, $500 billion in building construction, and $800 billion in transportation.
The IRA has had a profound impact on the clean energy industry, creating more than 170,000 green jobs across the US. As of July 2024, there have been over 270 renewable energy projects deployed, attracting a total investment of $278 billion. These projects span from Arizona to New York, including the production of wind turbines, solar power, and storage batteries. Notably, the IRA is expected to help the US reduce greenhouse gas emissions by up to 42% by 2030, far exceeding initial estimates. The trend towards clean energy transition is strong and unlikely to be reversed. [12]
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Opportunities in Vietnam
The outlook for the green technology stock market in 2025 is promising, with several positive indicators. According to Gartner, global spending on information technology is projected to reach $5.74 trillion, a 9.3% increase from 2024. Within this, the data center systems and software segments are expected to experience the highest growth rates, with increases of 34.7% and 11.7%, respectively. [13]
Vietnam is solidifying its position as an attractive destination for green investments, as evidenced by impressive figures. According to the latest report from BloombergNEF, Vietnam has the potential to attract up to $2.4 trillion in investments during 2024-2050 if it achieves its net-zero emissions target. [14] Notably, IRENA assesses that Vietnam has the potential for up to 1.2 terawatts of renewable energy, 15 times its current installed capacity. [15]
The Green Growth Strategy for the period 2021-2030 has set ambitious targets, including reducing greenhouse gas emissions intensity per GDP by at least 15% by 2030 and 30% by 2050 compared to 2014 levels. [16] For renewable energy, the goal is to have it account for 15-20% of the total primary energy supply by 2030, increasing to 25-30% by 2050. [17]
According to S&P Global Market Intelligence, Vietnam is attracting significant investments in solar and wind energy. By 2025, solar energy is expected to account for 51.7% of total additional capacity, with 63.1 GW planned for deployment. [18] Notably, under the National Power Development Plan PDP8, offshore wind power capacity is targeted to reach 6,000 MW by 2030 and increase to 70,000 MW by 2050. [19]
Vietnam is making remarkable progress in green investments. As of mid-2024, the country had 559 green buildings with a total area of 13.6 million square meters, far surpassing the target of 80 green buildings by 2025. [20] Of these, industrial buildings accounted for 56.5%, offices for 15.6%, and residential buildings for 14.2%. [21] While green transformation still faces challenges, currently accounting for only 5% of the economy while the brown economy makes up 95%, the green bond market is developing rapidly. The total value of green bond issuances reached $1.16 trillion during 2019 – 6T/2024, with notable examples including BIDV (VND 3,000 billion), Vietcombank (VND 2,000 billion), and HDBank (VND 3,000 billion). [23]
In terms of investments, Vietnam is expanding projects in solar power (16,600 MW) and wind power (5,345 MW). The transportation sector is also undergoing a green transition with electric cars and buses. Green technology stocks have risen by 140%, far outpacing the VN-Index (12%). According to PwC’s 2022 report, 80% of listed companies are committed to ESG, with 58% in the planning stage for the next 2-4 years and 35% having established concrete plans. Companies such as VinFast, Dat Bike, and Trung Nam Group are attracting significant interest. The commercialization of 5G by Viettel and VNPT by the end of 2024 is also creating new growth momentum.
Future development trends
2025 promises to be a year of explosive growth for many green technologies, especially green hydrogen and energy storage solutions. According to a BloombergNEF report, global green hydrogen production capacity is expected to double, with approximately 16 GW of electrolysis capacity having reached the final investment decision (FID) stage. [24] The green hydrogen market is projected to reach $10.6 billion by 2030, with a compound annual growth rate of 54.7%. [25]
In terms of energy storage, long-duration systems (over 8 hours) are expected to double in 2025. [26] Notably, compressed air energy storage (CAES) technology is demonstrating significant advancements in efficiency. [27] Meanwhile, AI is playing a pivotal role in optimizing the energy system.
According to Goldman Sachs, the demand for electricity for data centers will increase by 160% by 2030. [28] In Europe, the electricity consumption of data centers is projected to rise from 62TWh to over 150TWh. [29] However, AI is also contributing positively to emission reductions, with the potential to reduce approximately 1.8 GtCO2e annually in the power sector through the optimization of renewable energy. [30]
[1] https://about.bnef.com/blog/global-investment-in-the-energy-transition-exceeded-2-trillion-for-the-first-time-in-2024-according-to-bloombergnef-report/
[2] https://press.spglobal.com/2025-01-13-S-P-Global-Commodity-Insights-Predicts-a-Transformative-Shift-as-Investments-in-Cleantech-Outpace-Fossil-Fuels-for-the-First-Time
[3] https://carboncredits.com/2025-the-year-clean-energy-dominates-with-record-670-billion-investment-trumping-oil-gas/
[4] https://www.irena.org/News/pressreleases/2024/Oct/Global-Goal-of-Tripling-Renewables-Needs-USD-1-point-5-Trillion-Investment-Per-Year
[5] https://carboncredits.com/2025-the-year-clean-energy-dominates-with-record-670-billion-investment-trumping-oil-gas/
[6] https://vietnordic.com/2024/07/chinh-phu-dan-mach-ra-mat-chuong-trinh-dau-tu-xanh/
[7] https://vneconomy.vn/techconnect/dan-mach-tai-tro-10-trieu-usd-giup-viet-nam-xanh-hoa-nganh-nang-luong.htm
[8] https://www.sbv.gov.vn/webcenter/portal/vi/links/cm255?dDocName=SBV620618
[9] https://tapchitaichinh.vn/trai-phieu-xanh-tiep-nhien-lieu-cho-su-phat-trien-ben-vung.html
[10] https://www.spglobal.com/commodity-insights/en/news-research/latest-news/electric-power/122424-commodities-2025-solar-power-to-lead-us-clean-energy-capacity-additions
[11] https://www.utilitydive.com/news/inflation-reduction-act-return-trillion-taxpayer-investment/736212/
[12] https://www.weforum.org/stories/2023/08/inflation-reduction-act-one-year-green-jobs/
[13] https://vneconomy.vn/nganh-cong-nghe-thong-tin-du-bao-thu-ve-hang-ty-usd-goi-ten-ba-co-phieu-rat-tiem-nang.htm
[14] https://economica.vn/news/detail/unprecedented-levels-of-net-zero-investment-opportunities-in-vietnam/2532
[15] https://vneconomy.vn/vietnams-renewable-energy-holds-significant-growth-potential.htm
[16] https://ikinews.climatechange.vn/national-green-growth-strategy-issued/
[17] https://www.vietnam-briefing.com/news/vietnams-national-green-growth-strategy-unpacked.html/
[18] https://en.evn.com.vn/d6/news/Roadmap-for-2021-2030-national-electricity-development-plan-approved-66-163-4025.aspx
[19] https://www.vietnam-briefing.com/news/vietnams-economic-outlook-for-2025-push-for-digitalization-and-sustainability.html/
[20] https://vnexpress.net/viet-nam-tang-gap-doi-cong-trinh-xanh-trong-2024-4847323.html
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[21] https://doanhnghieptiepthi.vn/viet-nam-co-559-cong-trinh-dat-chung-nhan-xanh-161250212203315242.htm
[22] https://www.evn.com.vn/d/vi-VN/news/Chuyen-doi-kinh-te-xanh-tai-Viet-Nam-nam-2024-va-xu-huong-nam-2025-60-635-501021
[23] https://tienphong.vn/ngan-hang-viet-va-mot-thap-ky-no-luc-mo-cua-trai-phieu-xanh-post1708181.tpo
[24] https://www.woodmac.com/news/opinion/hydrogen-2025-outlook/
[25] https://www.inkwoodresearch.com/reports/green-hydrogen-market/
[26] https://asianbusinessreview.com/news/long-duration-energy-storage-double-in-2025
[27] https://www.thebatteryshow.asia/energy-storage-solutions-in-2025-whats-new/
[28] https://www.goldmansachs.com/insights/articles/AI-poised-to-drive-160-increase-in-power-demand
[29] https://datacentremagazine.com/data-centres/global-ai-boom-to-triple-eu-data-centre-energy-use-by-2030
[30] https://www.wef
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