COP28 Dubai | Viet Nam Pavilion
SIDE EVENT
Lifting up G-B Partnership to a Next Level: Business Dialogue for Green Transition andBusiness Engagement in Net Zero and NDC Implementation in Viet Nam
12:30 – 14:00 PM Dubai | 6th December 2023, Wednesday | Viet Nam Pavilion (COP28)
1. Concept and Objective
At the COP26 Conference, the Government of Vietnam clearly stated its ambition to achieve
net zero emissions by 2050 through the development and implementation of strong greenhousegas emission reduction measures using government resources with the cooperation and supportof the international community, especially developed countries, both in finance and technology
transfer, including implementing mechanisms under the Paris Agreement on climate change.
Immediately after COP26, the Prime Minister directed the Ministry of Natural Resources andEnvironment to review and complete the National Strategy on Climate Change for the period up
to 2050 and directed the Ministry of Industry and Trade to review and develop the National
Electricity Development Plan on the period 2021-2030, vision to 2045 (Power Development PlanVIII) to reflect Vietnam's commitments at COP26, including the commitment to bring net emissions
to "zero" by 2050.
On July 26, 2022, the Prime Minister issued the National Strategy on Climate Change for theperiod up to 2050 in Decision No. 896/QD- TTg. Accordingly, in the period to 2030, total national
greenhouse gas emissions will decrease by 43.5% compared to the business-as-usual scenario(BAU). By 2050, ensure that total national greenhouse gas emissions reach net zero emissions;
Emissions peak in 2035, then decline rapidly.
To make a nationally determined contribution towards the goal of net zero emissions by2050, it requires the participation of the entire political system, ministries, branches, localities, andgovernment organizations and especially the responsible participation of the business community.
This is a challenge, but also an opportunity to help Vietnamese businesses transform green,develop sustainably, improve competitiveness and promote trade cooperation and investment fordevelopment, in the context of some countries and territories are aiming to establish carbon
barriers for imported Vietnamese products.
The business community plays an important role in realizing the goal of bringing net
emissions to zero in response to climate change and sustainable development. Businesses are bothsubjects affected by climate change and important subjects that directly participate in turning1

challenges into opportunities from the impacts of climate change and creating resources topromote technology responding to climate change, implementing plans that contribute to
reducing greenhouse gas emissions and promoting green growth. In that context, there needs tobe policy dialogue forums between the business sector and state management agencies to remove
policy barriers, thereby helping the green transformation process towards the goal. Carbon
neutralization of the entire economy is proceeding smoothly.
Many private corporations and state-owned eenterprises have initially researched andgradually reduced fossil energy sources and developed plans to reduce greenhouse gas emissions.
Some multinational corporations are willing to cooperate with government agencies to achieve
the goal of achieving net zero emissions.
On top of the above progresses made in national policy development around mitigating GHG
emissions, it is critical to keep an eye on the rapid progress of global trend which requires
adjustment and preparation for Viet Nam business community to stay on competitive edge in theglobal market. To date, International Sustainability Standard Board (ISSB) has recently updated
climate-related information disclosure standard with IFRS S2 in June 2023, which will require
adjustment and mainstreaming by stock exchanges to guide alignment to their listed companies
for near future reporting cycles. In the meantime, some carbon pricing measures by other regional
block such as Carbon Border Adjustment Mechanism (CBAM) will impact and require targetedenergy intensive industries to compliance for their export part of their production activities. With
those trends in mind, how Government can facilitate early action and preparation by businesssector is key to success for journey to 2030 and net zero.
Therefore, the side event was organized to identify businesses' difficulties in the energy
transition process and efforts to reduce greenhouse gas emissions, including accessing necessary
information, developing a roadmap to reduce GHG emissions, finding solutions to the problem offinancial balance to invest in reducing GHG emissions. In addition, business opportunities arise
when the Government of Vietnam has made a strong and clear commitment to pursuing climate
goals with recently issued policies to accelerate Vietnam's green transition process; international
donors are considering Vietnam as a model in responding to climate change and have priorities incooperation and arrangement of support sources; Vietnam's economy is also highly open, making
it easy to access resources in management, technology, green finance, and low-carbon emissions,and human resources are highly appreciated for their qualifications, skills and the ability to adapt
to the transition process play an important role in the energy transition process and efforts toreduce GHG emissions will be exchanged and discussed to support the policy making process andenergy transition work of the business sector.

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2. AgendaTime
12:30 – 12:35

Presenter(s)ContentOpening Remarks(5 min)12:35-12:45(10 min)

Vietnam's commitments and regulations on reducing
GHGs – Progress, challenges and opportunities forbusinesses

Dr. Nguyen Tuan Quang
Deputy Director General
Dept. of Climate Change,
MONRE
Dr. Luong Quang Huy
Head, Mitigation Division
Dept. of Climate Change,
MONRE

12:45 – 13:55(70 min)Panel Discussion
1．Setting the Scene & Framing Questions (5 min)⚫

Mr. Koji Fukuda, CTA, JICA SPI-NDC

Global Land Scape over Private Sector Engagement to Decarbonization – State of Affairs,
Observations, Lessons & Framing Questions
2. Panel (1): Forging Partnership to Accelerate Decarbonization (35 min)Panelists⚫

⚫

⚫

Mr. Boonrod Yaowapruek (online)
Managing Director, Creagy, Executive Committee/TCNN
Thailand‘s experiences on private sector engagement: Thailand Carbon Neutral
Network (TCNN)
Mr. Shigeo Sergio KATO
Co-Representative, Japan Climate Initiative (JCI)
Former Senior Corporate Officer, Ricoh Co., Ltd.
Experiences of Japan Climate Initiative (JCI) as G-B-A Partnership towards
Decarbonization
Mr. Luong Quang Huy
Head of Mitigation Division, Dept of Climate Change, Ministry of Natural Resources
and Environment (MONRE)

3. Panel (2): Concrete Evidences of Transition to Decarbonization ~ Project Preparation
and Role of Transition Finance (30 min)Panelists⚫ Mr. Tim Evans
Chief Executive Officer (CEO), HSBC Vietnam⚫ Mr. Do Ngoc Quynh
Deputy CEO, Sovico Group⚫ Ms. Nguyen Thi Thien Huong
Vice President, Maritime Bank (MSB)
13:55 – 14:00(5 min)Closing Remark

DCC, MONRE Viet Nam

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