The Department of Agriculture and Environment of the northern port city of Hai Phong signed a Memorandum of Understanding (MoU) with Kinh Bac City Development Holding Corporation (KBC), Australia-based Global Advisory Co., and Allotrope Vietnam Company Limited to establish and execute the city’s carbon reduction plan through 2030, with a vision toward 2050.
The strategic partnership aligns with Vietnam’s National Strategy on Climate Change through 2050 under Prime Ministerial Decision No. 896/QD-TTg dated July 26, 2022, alongside the Hai Phong Party Committee's Resolution No. 08-NQ/TU dated January 29, 2026, on the green transformation of Hai Phong City for 2026 - 2030, with vision to 2050
As part of its push toward net-zero emissions by 2050, the northern port city is preparing to pilot financial mechanisms for greenhouse gas reduction through carbon credit exchange and offsetting mechanisms.
Under the agreement, the municipal department called on its partners to build public sector capacity regarding the management, supervision, and integration of the Emissions Trading System (ETS), international carbon trading, and net-zero roadmaps. The signatories will evaluate potential carbon reduction projects, focusing on industrial emission abatement and carbon capture, utilization, and storage (CCUS).
The cooperation also emphasizes identifying and promoting green initiatives to develop low-carbon industrial zones powered by clean energy, energy efficiency, and circular economy solutions.
Key focus areas include industrial renewable energy, battery energy storage systems (BESS), sustainable building materials, the electrification of industrial thermal processes, and sustainable land-use initiatives.
To advance the city’s decarbonization roadmap, Global Advisory Co. and Allotrope Vietnam Company Limited will deliver technical assessments, policy advisory services, and technical support for the pilot ETS and energy transition schemes.
Additionally, Allotrope Vietnam will identify and propose cutting-edge green projects, such as BESS and low-carbon industrial solutions, for deployment across Hai Phong’s industrial parks.
