This strategic move aims to build a sustainable ecosystem, supporting the Ho Chi Minh City International Financial Center (VIFC) in achieving its Net Zero 2050 goal and fostering sustainable development in Vietnam.
The seminar titled “Promoting Green Finance and Carbon Credit Exchange in the International Financial Center,” organized by the Ho Chi Minh City Department of Science and Technology in collaboration with VIFC and the Ho Chi Minh City Institute for Development Studies on the morning of January 16th, served as a crucial forum. It brought together representatives from regulatory bodies, international organizations, financial institutions, and the business community.
The seminar focused on policy dialogue and practical discussions to guide the development of a transparent and efficient carbon credit market aligned with international standards. It aimed to connect and mobilize green capital for low-emission economic transitions and shape a carbon credit exchange model within the International Financial Center. This model is expected to lay the foundation for the long-term and sustainable development of the market.
Vietnam is entering an accelerated phase of green transformation, committed to achieving net-zero emissions by 2050. In this context, green finance and the carbon credit market are identified as critical pillars to support the economy’s green transition.
The development of VIFC, linked with green financial products, a carbon credit exchange, and international ESG standards, is anticipated to drive the attraction of sustainable capital and enhance Vietnam’s competitiveness in the region.
However, according to experts, Vietnam’s carbon credit market is still in its early stages, lacking transparent trading mechanisms and alignment with international standards. Small and medium-sized enterprises (SMEs) and women-led businesses face significant barriers in accessing green capital and improving ESG governance.
Mr. Vo Hoang Hai, Deputy General Director of Nam A Bank, presents the Green Finance Community Initiative within the International Financial Center.
At the seminar, Mr. Vo Hoang Hai, Deputy General Director of Nam A Bank, presented the “Green Finance Community Initiative within the International Financial Center.” Nam A Bank proposed the establishment of the Green Finance Community, positioned as a multilateral cooperation platform. This community will collaborate with VIFC to develop the carbon credit market and carbon exchange in Vietnam, while also promoting initiatives in smart agriculture, climate finance, and sustainable supply chains.
Under this initiative, Nam A Bank will not only act as a commercial bank providing capital but also play a key role as a core member, directly coordinating and connecting stakeholders in the establishment and operation of the Green Finance Community. Partnering with Nam A Bank are prestigious domestic and international financial institutions and development organizations such as IFC, ADB, ResponsAbility, GGGI, Moody’s, FiinRating, and FitchRatings. These partners will share practical experiences, resources, and international standards, thereby enhancing the quality of green financial products and increasing transparency and global green capital connectivity for Vietnam’s market.
Based on this foundation, the Green Finance Community will implement key product groups and solutions, including: Green Supply Chain Finance (GSCF) to support businesses in participating in sustainable value chains; climate finance for emission reduction and climate adaptation projects; smart agriculture through the application of IoT, artificial intelligence (AI), and renewable energy; and the development of green capital mobilization tools such as green bonds, contributing to diversifying medium and long-term capital sources.
The seminar gathered regulatory bodies, international organizations, financial institutions, experts, and the business community.
Additionally, capacity-building programs for SMEs, particularly women-led businesses, on ESG governance will be implemented in collaboration with ADB and IFC. Simultaneously, steps will be taken to research and establish a green investment fund, creating a foundation for international cooperation linked with VIFC.
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