Other News SBV to divert more credits to eco-friendly projects The Saigon Times Daily Sunday, Aug 19, 2018,09:22 (GMT+7) SBV to divert more credits to eco-friendly projectsThe Saigon Times Daily Vietnamese dong banknotes are seen on a cash counter at a commercial bank. SBV to divert credit fund to eco-friendly projects. HCMC – The State Bank of Vietnam (SBV) has issued Decision No.1604/QD-NHNN, approving a scheme on developing green banks in the country by using credit to back eco-friendly projects, with the aim of raising awareness of local banks on the social responsibility in fighting climate change, reported the local media. SBV will issue a list of green projects that use clean and renewable energy. The sectors that own these projects will be prioritized to receive credit funds if they need support. The scheme also emphasizes creating eco-friendly habits in banking activities and applying advanced technology to … [Read more...] about SBV to divert more credits to eco-friendly projects
Green projects
Green buildings An indispensable trend
Green buildings An indispensable trend The Right approach Compared to other countries, Vietnam reported a modest number of certified green buildings at about 60 as of the end of April 2017. Besides, awareness of green buildings remains limited, even on the side of property developers. To many people, green buildings generally mean a project featuring many green trees, which is not entirely wrong, but less than adequate in expressing all constituent factors and their significance. According to the Vietnam Green Building Council (VGBC), green buildings are those posting high efficiency in energy and material usage, minimising adverse impacts on the environment. They are designed to significantly reduce the harmful impacts of construction on people’s health and the natural environment through the effective use of energy, water, and other natural resources. It aims to protect people’s health, boost labour productivity, minimise waste and pollution as well as harm to the … [Read more...] about Green buildings An indispensable trend
Incentive policies needed to “go green”
Incentive policies needed to “go green”By Le Anh An office building in Phu My Hung new urban area in HCMC’s District 7 - PHOTO: DINH DUNG HCMC – State agencies should create supporting policies for the development of green real estate projects, heard participants at a sustainable real estate development conference in HCMC on July 19. The conference was jointly held by Nhip Cau Dau Tu Magazine, DKRA Vietnam JSC and GreenViet Consultancy Co., Ltd, and was attended by over 300 people. Hoang Tung, deputy director of the HCMC Department of Planning and Architecture, told the participants that the municipal government encourages enterprises to develop green projects to create a civilized, sustainable urban area. Tung said green buildings have become an indispensable trend that is rising on both a regional and a global scale. These projects are highly effective in saving energy and building materials and reducing adverse impacts on the environment and human … [Read more...] about Incentive policies needed to “go green”
Ahead in green lending
Vietnam is moving in the right direction in terms of promoting green lending, Mr. Kyle Kelhofer, IFC Country Manager for Vietnam, Cambodia and Laos, told VET. ■ How do you view the implementation of green finance in Vietnam? The recently-released International Finance Corporation (IFC)-supported Sustainable Banking Network global progress report put Vietnam among the leading performers in advancing sustainable finance, up there with China, Bangladesh, Indonesia, and Mongolia in Asia. National policies in these five countries require banks assess and report on environmental and social (E&S) risks in their lending operations and put market incentives in place for them to lend to green projects. Vietnam has gotten off to a good start via the issue of the Directive on Promoting Green Credit Growth and Environmental and Social Risks Management in Credit Granting Activities, in 2015, and Decision No. 1552, issued on August 6, 2015, on the issuance of an action plan … [Read more...] about Ahead in green lending
Green bonds prop up state eco fund
In a push towards a sustainable future, the private sector must spotlight green projects, Photo: Le Toan Great capital demand According to the United Nations Environment Programme, global capital demand for implementing sustainable development goals is estimated at $5-7 trillion a year, with a $2.5 trillion annual financing gap for key infrastructure sectors and related areas in developing markets. In a bid to shift Vietnam’s economic growth into a sustainable lane from its current carbon-intensive and environmentally-unfriendly expansion, the country would need roughly $30.7 billion by 2020 and possibly $21.2 billion for the following 10 years to support its Intended Nationally Determined Contribution (INC), according to the German development agency GIZ. Some 30 per cent of the credit requirement for green growth would come from the state budget, consisting of central and provincial funds as well as official development assistance (ODA), whilst the remainder will have to be … [Read more...] about Green bonds prop up state eco fund