More financial support needed link bet88 arrive at ‘net-zero emissions’

Vietnam has always engaged with international partners on reducing greenhouse gas emissions and adapting link bet88 climate change, viewing it as an opportunity link bet88 transform towards a green, circular, and low-carbon development model, a roundtable discussion on financing for climate change held by the Ministry of Finance heard.

“Financing for combating climate change is a key task enabling the implementation of Vietnam’s plans and strategies for sustainable development, environmental protection, and green growth,” said Deputy Minister of Finance Tran Xuan Ha. Such financing is also needed for Vietnam link bet88 fully implement the commitments it made at COP-26, he added.

According link bet88 Ms. Carolyn Turk, World Bank Country Director for Vietnam, the participation of ministries and sectors is needed link bet88 realize those commitments. “Achieving these desires requires huge resources,” she said. “This will be a major burden for the Ministry of Finance.”

Specific programs and projects are being urgently developed and reviewed by link bet88 Ministry of Planning and Investment, link bet88 Ministry of Industry and Trade, and link bet88 Ministry of Natural Resources and Environment.
Mr. Ha said that mobilizing capital is very important given Vietnam’s tight budget.

Under the method the World Bank applies in modeling and analyzing solutions, in order for a government link bet88 both achieve growth goals and reduce emissions without one affecting the other requires substantial resources, in the hundreds of billions of dollars.

But Ms. Turk said that Vietnam’s advantage is that it can mobilize resources from link bet88 private sector.