Ho Chi Minh City Aims for Net-Zero Emissions by 2050

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by KnowESG
KnowESG_Ho Chi Minh City Aims for Net-Zero Emissions by 2050
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Ho Chi Minh City has firmly committed to attaining net zero emissions by the year 2050 through the implementation of progressive policies and strategic mechanisms, thereby propelling itself towards a sustainable and environmentally conscious economy.

During the recent "Green Economy Forum 2023: Net Zero Path to Sustainable Development," Phan Van Mai, Chairman of the city's People's Committee, emphasised that substantial resources have been allocated to facilitate this transformative green shift, aligned with the nation's overarching objective of achieving zero emissions by 2050.

According to Phan Van Mai, the city has orchestrated a comprehensive array of strategies geared towards fostering green economic growth, nurturing circular economies, facilitating energy transitions, and promoting sustainable urban development. Moreover, a focused plan is underway to bolster energy, urban, and social infrastructure to pave the way for robust green expansion.

To expedite its progress, Ho Chi Minh City has designated the Can Gio District as a pioneering site for carbon neutrality. The city aims to formulate a comprehensive roadmap to realise zero emissions in this area by 2030, with a particular emphasis on transitioning vehicles to renewable energy sources, integrating advanced waste management technologies, and harnessing the potential of carbon credits.

In this context, Phan Van Mai urged businesses to wholeheartedly honour their commitments and attain certifications that underscore their advancements towards net-zero targets. Notably, numerous domestic enterprises have already embarked on the journey to realign their operations with principles of sustainable development and environmental stewardship.

Jonathan Pincus, Senior International Economist at the United Nations Development Programme, emphasised that this transformative endeavour mandates the adoption of cutting-edge technological solutions, judicious utilisation of energy-efficient materials, and the robust development of renewable energy sources. Pincus also underscored the necessity of harmonised policy coordination at both domestic and international levels to buoy these efforts.

Echoing these sentiments, Ha Dang Son, Deputy Director of the Vietnam Low Emission Energy Programme II, highlighted the significant commitments made by domestic and international financial institutions to support Vietnam's green transition. He stressed the pivotal importance of leveraging these financial resources effectively.

Tan Boon Thor, Director of Commercial Real Estate and Design Management at Frasers Property Vietnam, urged businesses to translate their net zero aspirations into tangible actions. He advocated for the implementation of emissions reduction schemes, the adoption of energy-saving technologies, and the cultivation of awareness about net zero principles across all organisational tiers.

Lam To Trinh, Deputy General Director of Innovation and Business Development at NS BlueScope Vietnam, outlined a crucial pathway for businesses aspiring to penetrate the global market. He emphasised the need for businesses to formulate meticulous carbon emission reduction strategies.

Concurrently, Lam To Trinh emphasised the imperative role of the government in crafting requisite legal frameworks and policy systems that incentivise broad-based participation in the green economy. He stressed the necessity of comprehensive guidelines to attract stakeholders from diverse spheres of production, business, and finance.

The "Green Economy Forum 2023: Net Zero Path to Sustainable Development," organised by Saigon Economic Times, convened to deliberate Vietnam's concerted endeavours to realise its commitment to net zero emissions by 2050, an aspiration enunciated during the United Nations Climate Change Conference in 2021.

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Source: The Star

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