Vietnam – Singapore forum seeks to promote net-zero transition

In her opening speech, Pham Thi Thu Hang, VSBF director, noted that net-zero transition is an inevitable and irreversible trend to meet market requirements globally.

This process is reshaping the economy, helping to create new markets and at the same time to narrow markets in several industries.

In Vietnam, she said the Government has over the past years introduced many solutions, focusing on perfecting mechanisms and policies, in an effort to meet the net-zero emissions commitment delivered by the Prime Minister at the 26th UN Climate Change Conference (COP26) in Glasgow, Scotland, in 2022.

Accordingly, the government has issued a decree regulating greenhouse gas emissions mitigation and ozone layer protection; a decision promulgating the list of fields and establishments emitting greenhouse gases subject to greenhouse gas inventories; a decision on tasks and solutions to implement the outcomes of the COP26 Conference; and an action plan to reduce methane emissions until 2030.

However, she admitted, green transformation and greenhouse gas emissions reduction to realize the net-zero commitment is a long way to go, requiring great support and close cooperation of the business community.

In such a context, VSBF focuses on unlocking the challenges and opportunities ahead on economic instability, climate change, energy transition, green businesses, green technology, and green finance, said Hang.

She went on to say that VSBF serves as a place for peer leaders to learn from each other and consider economic trends, business sustainability and environmental factors that impact strategic decisions.

Taking the floor, Deputy Minister of Science and Technology Hoang Minh highly appreciated the role of science, technology and innovation in the process towards green transformation.

According to the Deputy Minister, the government has outlined orientations and introduced policies to carrying out the process, including developing and implementing the national science-technology and innovation development strategy; increasing investment and prioritizing resources for the development of science-technology and innovation; and enhancing international cooperation on innovation and technology transfer.

The Ministry of Science and technology will continue to coordinate with relevant ministries, agencies and localities to increase investment and prioritize resources for research, development and application of green technology and high-quality human resources training in the field of green growth, while developing green technology fields such as renewable energy, clean production technology, recycling, and climate change adaptation, he said.

He expressed his belief that with the strong determination of the Government and international assistance, including from Singapore, Vietnam would meet the net-zero emissions commitment in future.

The Vietnam - Singapore Board Forum (VSBF), co-organized by VIETSTAR Training and Consulting Joint Stock Company (Vietnam) and Singapore Management University (SMU), has positioned itself as a pioneer forum in the region on sustainable development.

Since its first edition in 2021, VSBF has made its imprint and become a prestigious regional forum where leaders from Vietnam, Singapore and worldwide share experiences and initiatives on energy transition; green business building opportunities; sustainability integration into the core of business strategy; best corporate governance practices; and acceleration of green transition through finance.