Global sustainable energy solutions

As the first local currency SLBs in Vietnam, they aim to help issuers expand their businesses while creating jobs, boosting competitiveness, and supporting the country’s low-carbon growth model. IFC’s investment comprises two elements, with about $100 million to be issued by BIM Land – a tourism and property developer in Vietnam – and approximately $50 million to be issued by Thanh Xuan JSC. Both the issuers are subsidiaries of BIM Group, a multi-sector corporation in Vietnam. The proceeds will be used to develop the Thanh Xuan Valley project in Vinh Phuc province, including an eco-friendly and unique residential community alongside a hotel complex (under the InterContinental brand), as well as other relevant services and infrastructure. IFC’s funding will also help the developers implement water- and energy-saving solutions at two BIM Land hotels – InterContinental and Regent – on Phu Quoc island. An innovative financing tool to support global sustainable development, these … [Read more...] about Vietnam’s first local currency sustainability-linked bonds aim to boost economy

This partnership represents a clear commitment by both parties to address climate change within their value chains. DHL Express, the world’s leading international express service provider, on September 19, signed its GoGreen Plus service contract with Asia Commercial Joint Stock Bank (ACB) to reduce carbon emissions for its time-definite international (TDI) shipments through the use of sustainable aviation fuel (SAF). By investing in GoGreen Plus, ACB is estimated to reduce 14 tons worth of total CO2 emissions within a 12-month period. DHL Express and ACB sign the GoGreen Plus contract. Photo: DHL The whole process is verified annually by an independent third-party agency, Société Générale de Surveillance (SGS). In addition, a complementary Carbon Footprint report will be updated monthly, detailing ACB’s overall emissions with DHL Express . “We believe that corporate social responsibility and business success always go hand in hand. … [Read more...] about DHL Express partners with ACB to cut carbon emissions using sustainable aviation fuel

Climate response is included in the two countries’ joint statement on the Comprehensive Strategic Partnership, which would govern multisectoral cooperation in the future. Specific measures to concretize climate change response targets set out in the Vietnamese and US Leaders’ Joint Statement on upgrading the relations to a Comprehensive Strategic Partnership would be effectively taken. Vietnam’s Prime Minister Pham Minh Chinh and US Special Presidential Envoy for Climate John Kerry in New York on Sept 21 local time. Photo: Nhat Bac/VGP Vietnam’s Prime Minister Pham Minh Chinh said at the meeting with US Special Presidential Envoy for Climate John Kerry in New York during his week-long trip for the 78th Session of the United Nations General Assembly and bilateral ties. Chinh discussed with Special Envoy John Kerry how to swiftly put major agreements reached during the visit into action, particularly combating climate change. He recommended that the US … [Read more...] about Vietnam expects US support for renewable energy hub

PM Pham Minh Chinh speaks at the Climate Ambition Summit in New York on September 20. (Photo: VNA) New York (VNA) – Prime Minister Pham Minh Chinh joined other world leaders in the Climate Ambition Summit and the UN High-Level Meeting on Pandemic Prevention, Preparedness and Response in New York on September 20 (local time), part of the high-level week of the 78th UN General Assembly . Addressing the Climate Ambition Summit, PM Chinh stressed that climate change remains the biggest global challenge directly impacting and taking a heavy toll on economic development, social security, and people’s life safety and health. A global and universal approach with breakthrough, general, comprehensive, and innovative solutions is required for coping with climate change, he opined, calling for faster, stronger, and more responsible actions to minimise the global temperature rise. He proposed a new vision, a new mindset, new determination, and drastic actions be made to secure … [Read more...] about PM attends UN climate ambition summit, pandemic preparedness meeting

The team is involved in corporate and commercial banking in Vietnam, Singapore, Indonesia, the Philippines, Malaysia, Thailand, India, Bangladesh, and Sri Lanka. Each country has a dedicated social finance team that partners with local businesses to develop pioneering programmes and debt solutions including term debt, bonds, initial public offerings, and securitisations, as well as partnering with development agencies and impact investors. The expanded focus on Asia will further support Citi’s recent good work across social finance in the region “Citi is uniquely positioned to enable clients and partners to scale the delivery of products and services that improve the livelihoods of underserved and low-income communities across the emerging markets,” said Jorge Rubio Nava, global head of Social Finance. “We have a large and diverse pipeline across several sectors in Asia, including economic inclusion, healthcare, infrastructure, food security, and education. We … [Read more...] about Citi promotes social finance in Asia

At the 2023 Australian Investment Forum in Ho Chi Minh City last week, deputy director Vu Van Chung of the Foreign Investment Department under the Ministry of Planning and Investment noted that Vietnamese businesses are now well-equipped to venture into major economies, no longer limiting their focus solely to countries of similar economic stature. One-on-one meetings with representatives from Australian states and territories were held within the Forum. Photo: Australian Embassy in Vietnam “Traditionally, we’ve collaborated with nations matching our development level, management capabilities, and potential,” Chung said. “However, in the past five years, investments from Vietnamese firms have witnessed unprecedented growth in both quality and quantity.” With its burgeoning economic development, Vietnam offers myriad collaboration and international integration opportunities. “Currently, we have approximately 850,000 enterprises, with ambitions to expand this figure … [Read more...] about Australian presence apparent in quality and quantity

GHG emissions inventories will cause a considerable challenge for the steel industry, photo Le Toan From October 1, steel companies exporting to the EU must adhere to the EU’s Carbon Border Adjustment Mechanism, starting with greenhouse gas (GHG) emissions reporting and reduction. At the training for steel manufacturers on GHG accounting and emissions mitigation, held on September 12 by the International Finance Corporation (IFC) and the Vietnam Steel Association (VSA), experts discussed industrial carbon reduction technologies and provided insights into opportunities and challenges related to carbon trading. As one of the fundamental industries in Vietnam, the steel industry serves as a primary input for various sectors such as construction, shipbuilding, automotive, mechanics, and others. According to information from the VSA, Vietnam exported approximately 8.397 million tonnes of steel last year, representing a 35.85 per cent decrease compared to the same period the … [Read more...] about Steelmakers must act now in CBAM entry

Interpon powder coating is one of AkzoNobel 's key product lines, designed for high coverage, safeguarding buildings, residential projects, and global landmarks. The product was developed to facilitate surplus paint reuse, thereby reducing both costs and carbon emissions to the environment. Exceeding rigorous criteria, adhering to strict evaluation and testing procedures lasting up to 4,000 hours (equivalent to nearly six months), Eurowindow is among the few businesses in Vietnam certified for utilising the Interpon D3020 electrostatic powder paint line, with a warranty period up to 30 years. As a paint and coatings company that emphasises minimising negative environmental impacts during product development, AkzoNobel focuses on collaborating with partners who share the same sustainability criteria and commitments. AkzoNobel highly values the cooperation with Eurowindow, contributing not only to the modernisation of numerous projects in Vietnam, but as two companies share … [Read more...] about AkzoNobel awarded certificate for paint product

The banking sector assumes a vital role in introducing innovative financial instruments and suitable investment methodologies to enable Vietnam to achieve its net-zero emissions goal by 2050. The banking sector, as a key capital mobilization channel for the economy, is responsible for  “greening” investment capital flows for Vietnam to ensure the goal of sustainable development. Overview of the conference. Source: SBV Vice Governor of the State Bank of Vietnam Pham Thanh Ha made the remarks at a conference themed “Greening the Financial Sector: Accelerating transition to a low-carbon economy in Vietnam” held today [September 21]. According to Ha, Vietnam has historically maintained very low greenhouse gas (GHG) emissions. In absolute terms, Vietnam's GHG emissions reached 364 million tons of carbon dioxide (CO2) in 2018, constituting a mere 0.8% of the world's total emissions. However, over the past two decades, the country has experienced the fastest … [Read more...] about Greening finance accelerates Vietnam’s SDG implementation

Attendees were keen to divulge their ideas on what is needed to fulfill Vietnam’s commitments, photo Le Toan Deputy Prime Minister Le Minh Khai said at the Ho Chi Minh City Economic Forum 2023 that green transformation and green growth may create many new opportunities but also require large resources for relevant technologies, efficiency, and to minimise production and waste treatment costs. Highly qualified human resources, both in terms of knowledge and skills, are also a key factor for businesses to implement green economic initiatives and solutions. “In addition to the role of banks and financial institutions, Vietnam needs the participation and cooperation of international financial organisations in mobilising green finance,” Khai said. The move towards renewable energy sources, green transportation, and a supply chain of green goods from production to consumption are creating many attractive cooperation opportunities for both domestic and foreign businesses, he … [Read more...] about Ho Chi Minh City urged to double down on green goals