Due to the adverse impacts of climate change, green growth financing projects play a very important role for the sustainable development of Vietnam, experts have said. Capital flows into green growth projects are still quite positive despite the adverse impacts of the pandemic. VNA/VNS Photo According to the World Bank, Vietnam is one of the five countries most likely to be affected by climate change because most of the population lives in low-lying coastal areas. It is estimated that climate change will reduce the country's national income by up to 3.5 per cent by 2050, Vietnam News Agency reported. Meanwhile, an International Finance Corporation (IFC) study shows climate finance in Vietnam accounts for only about 5 per cent of total bank loans, equivalent to US$10.3 billion, and the value is projected to increase significantly in the coming years. The IFC said the implementation of the national target of reducing total greenhouse gas emissions by 9 per cent by …
[Read more...] about Green finance promotes Vietnm’s sustainable growth