The sooner the green transition, the more advantages Vietnam has in the "green competition". Source: Internet.

Green advantage

Speaking at the Vietnam Development Bridge Forum 2022 held recently, Dr. Ta Dinh Thi, Deputy Chairman of the National Assembly's Committee for Science, Technology and Environment, introduced the concept of "green competition" in current and future global trends.

Accordingly, in the global value chain, green growth goals have been concretized by regulations and criteria that need to be met in many new-generation bilateral and multilateral trade agreements that Vietnam participates in.

This clearly shows and strongly affirms that green growth is not only a long-term trend but an immediate and urgent requirement.

"If our economy is slow to "green" industries, if businesses are slow to "green transition" from operating models to production, investment and trade processes, we will miss many cooperation and development opportunities. In this decade and the next decades, the global competition trend will be ‘green competition’,” Ta Dinh Thi said.

Therefore, the success stories and leading this trend will belong to economies, localities, businesses and people who know how to catch it early, act now and constantly promote green transformation.

Alain Cany, President of the European Chamber of Commerce (EuroCham) in Vietnam, also assessed that although it is not the most polluting country, Vietnam cannot help but take immediate action. Solutions are needed to save energy, store energy and recycle waste into electricity.

Cany also highly appreciated the commitment of the Government of Vietnam at the 26th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP26). Accompanying this commitment of Vietnam, European enterprises investing in Vietnam are also actively implementing many "green" projects such as the Lego Company which is building a factory in Binh Duong with full commitment to zero carbon emissions by using energy from rooftop solar. Another Belgian enterprise is also investing in a factory in the North and also commits to zero emissions by using wind power, and treating wastewater systems.

Nguyen Dinh Tho, Director of the Institute of Strategy and Policy on Natural Resources and Environment under the Ministry of Natural Resources and Environment, also said that after COP26, the world community, bilateral and multilateral donors have made many commitments to support Vietnam in realizing its goals of green growth and sustainable development. The Asian Development Bank (ADB) pledged to finance US$635 million and it can raise up to US$7 billion, and Japan committed US$10 billion to countries in Asia in reducing carbon emissions.

Currently, the Ministry of Natural Resources and Environment is working with donors to find ways to unlock this resource.

Principle of fairness for the parties

Discussing solutions to successfully implement the green growth strategy as well as the Government's commitments to the international community, Tho said, according to regulations guiding the implementation of the Law on Environmental Protection, Mr.

By the end of 2022, the Green List will allow businesses to know what to do to achieve the green criteria for each specific field and when the green criteria are achieved, they will have access to green bonds and green credit.

Next, by the end of 2023, the Government will promulgate the National Program on Circular Economy, aiming to achieve four goals: reducing the consumption of input materials, especially fossil materials; ensuring extended product life cycle; reducing emissions and causing no harm to the environment.

Accordingly, ministries, sectors and localities need to integrate the circular economy into strategic planning, while enterprises need to integrate into the production chain, from exploitation, processing, production, distribution, consumption, discharge, waste treatment, and even waste re-exploitation.

Tho also set out the concept of the "fairness principle" to ensure that no one is left behind in the future green growth orientation.

“Emissions causing businesses will have to pay businesses that have the ability to absorb carbon, urban industrial areas with emissions will have to pay to mountainous areas to conserve carbon sequestration areas. That is the principle of fairness to guide the future," Tho said.

At the local level, Cao Xuan Thu Van, Vice Chairman of Bac Lieu Provincial People's Committee, is particularly interested in education.

“Besides financial resources, there is also an important role of human resources. We must make the young generation love their homeland, and let them understand why it is important to protect the environment and develop sustainably. From this awareness, the children will join us in acting more decisively and effectively to protect the environment while still ensuring the goal of economic development," said Thu Van.

Thu Van also shared the fact that Bac Lieu has recently implemented programs to take young people to visit wind power, shrimp production plots, and relics associated with production to improve their love for the homeland. Since then, many young people, after finishing school, have returned to their hometown to produce shrimp, develop an eco-tourism model, and achieve success. Accordingly, the budget should pay more attention to education to raise awareness for the young generation about green growth and sustainable development.