Syngenta specialises in providing agro-pharmaceutical products, plant protection solutions and seeds, and is trusted by millions of farmers. — Photo coutersy of Syngenta Syngenta Vietnam, a leading science-based agri-tech company, has just joined HSBC Vietnam's green journey by placing their very first green deposit with the bank. This transaction will enable Syngenta Vietnam’s surplus money to be invested in sustainable and green projects and businesses, in line with the company’s global sustainability development strategy. HSBC’s green deposit programme, the first of its kind in Viet Nam, is a channel to mobilise green funds from the bank’s corporate customers, investing them in environmentally friendly projects and initiatives, while ensuring a stable and predictable return. Green deposits are used for the green financing, which is aligned with the HSBC Green Bond Framework and Green Loan Principles, under eligible green project themes (Renewable Energy, Energy Efficiency, … [Read more...] about Syngenta Vietnam joins HSBC’s green capital mobilisation
Harford transit green line
McKinsey and Company on August 3 released the report “Can Vietnamese banks seize the green bond opportunity?”, which analyses the preconditions leading to the growth of green-bond markets and urges Vietnamese banks to take timely action to reap the rewards from this segment. New solutions in green finance are crucial because the climate transition is accelerating, Photo: Shutterstock The report indicates that the demand for financing of projects with environmental benefits in Vietnam has grown year by year, totalling more than $10 billion annually from 2018 to 2020 and $21 billion in 2021. This increase is forecasted to continue, based on market momentum, Vietnam’s latest draft of Power Development Plan VIII, and the country’s net-zero commitments. Finance-wise, McKinsey estimates that issuing bonds for environmental, social, and governance (ESG) projects may bring Vietnam’s financial institutions roughly $1.7 billion in revenue by 2025, with $1.5 billion coming from … [Read more...] about New finance instruments in play for climate future
Hanoi - The Ministry of Industry and Trade (MoIT) has asked the Prime Minister about the mechanism for ongoing solar power and transitional wind power projects to enjoy the incentive price. Dong Hai wind farm in Tra Vinh province. (Photo courtesy of Trungnam Group) In a recent document sent to the PM, the MoIT suggested investors of those projects negotiate electricity prices and power purchase and sale contracts with Vietnam Electricity (EVN). Of the total of 78,121 MW of installed capacity of electricity sources nationwide, there was 16,545 MW of solar power, including 8,904 MW of concentrated solar power and 7,660 MW of rooftop solar power and 4,126 MW of wind power that have been put into operation and have enjoyed the FIT (preferential purchase price) according to the Prime Minister’s decision. However, the MoIT announced there were still many projects or parts of wind and solar power projects that had been implemented in practice but not been able to enjoy the … [Read more...] about MoIT recommends unfinished wind, solar farms negotiate energy prices
Seizing the opportunity laid out by its clean energy resources and phasing out coal could be key for Vietnam’s green growth path. Vietnam’s Prime Minister Pham Minh Chinh has set a deadline for sectors to build plans for their sustainable development within the first quarter (Q1) of this year as part of efforts to materialize the country’s sustainable development. Vietnam’s Prime Minister Pham Minh Chinh speaks at COP26 in Glasgow, the UK in November 2021. Photo: VNA The PM demanded in Q2 a comprehensive program to implement Vietnam’s net-zero target that he pledged at the 2021 United Nations Climate Change Conference in Glasgow (COP26) in November 2021. Accordingly, authorized agencies are tasked with eight issues, namely energy transition, reducing greenhouse gas emissions; lowering methane emissions; developing electric cars; planting forests to absorb carbon dioxide; building construction materials and urban development suitable for green and sustainable … [Read more...] about [Net-zero strategy] Which way is possible for Vietnam’s net zero journey?
The PM commended the ambassador’s active contributions to promoting the Vietnam-U.K. strategic partnership in all fields, diplomatic channels and people-to-people exchange. Mentioning the U.K.-Vietnam Free Trade Agreement (UKFTA), Chinh said the deal has played a role in forging the bilateral economic and trade ties, with two-way trade standing at nearly 6.6 billion USD last year, up 17.2% year-on-year. Vietnam always attaches importance to its relations with the U.K., he affirmed, suggesting the two sides step up the exchange of delegations at all levels, particularly the high level, and organize diverse activities to mark the 50th anniversary of the bilateral diplomatic ties in 2023. The two sides should closely coordinate to optimise commitments of the UKFTA in order to enhance the economic, trade and investment relations, he continued. The leader also suggested the British side increase the import of Vietnamese agricultural products, including seasonal fruit, and called on … [Read more...] about PM receives outgoing British ambassador
Jorge Rubio, Citi’s global head of Social Finance visited Vietnam for meetings with several Vietnamese tech and digital clients. Citi has been discussing social impact loan transactions with many of these clients as their businesses are impacting many areas, including education, healthcare, and financial inclusion for the underserved segments in Vietnam. Potential resulting transactions are expected to contribute towards Citi’s Social Finance commitments that include the bank’s $1 trillion 2030 Sustainable Financing Goal of which $500 billion is for Social Finance and its goal to expand basic service access for 15 million households, including 10 million women by 2025. Citi aims to be named among the world’s leading banks in driving the transition to net zero The visit of Citi Asia Pacific head of Sustainability and Corporate Transitions Rapheal Erasmus follows the MoU for the Cooperation on Environmental, Social, and Governance (ESG) towards Vietnam’s 2050 net … [Read more...] about Citi works towards sustainability and client support in Vietnam