(MPI) – A consultative conference on identifying investment priorities and accessing financial resources of the Green Climate Fund (GCF) was held virtually on October 15th, 2021. Participants of the conference were representatives of ministries, line ministries and localities, donors and development partners in Vietnam at different points.
Director General of the Department of Science, Education, Natural Resources and Environment
Le Viet Anh speaking at the Conference. Photo: MPI
At the Operation Center, Le Viet Anh, Director General of the Department of Science, Education, Natural Resources and Environment, Ministry of Planning and Investment informed that Vietnam has been implementing the 5-year Socio-economic Development Plan for the 2021-2025 period and the 10-year Socio-economic Development Strategy for the 2021-2030 period. The Prime Minister’s Decision No. 1658/QD-TTg dated October 1st, 2021 on approving the “National Green Growth Strategy for the 2021-2030 period, vision up to 2050” contributes to promoting economic restructure associated with innovating the growth model, enhancing competitiveness and resilience to external shocks, and realizing the socio-economic development strategy for the 2021-2030 period, national planning system and the sector and field development strategies. The green growth is an essential method for sustainable and human-centered development; the duty of the entire political system, people, business community, related agencies and organizations; and it is built based on innovation, creativity and aspiration to develop a prosperous and sustainable country.
The objectives of the Strategy are to contribute to boosting the economic restructure associated with growth model innovation to achieve economic prosperity, sustainable environment and justice society; towards a green, carbon-neutral economy and contribute to slowing down the global temperature increase.
The specific objectives aim at reducing the intensity of greenhouse gas emissions per GDP; Greening economic sectors; Greening lifestyles and promoting sustainable consumption; Greening the transition process based on equality, inclusion and resilience enhancement.
As stated by Le Viet Anh, Vietnam strives to fully implement Vietnam’s commitments and regulations in the Paris Agreement. The biggest challenge in implementing these commitments is resource mobilization for implementation. It is realized that the gap between the financial capability to realize the set goals, and the resource mobilization and budget allocation is still very large, leading to many challenges in achieving the global goals of responses to climate change.
Within the framework of strengthening international cooperation in mobilizing climate finance, the Government assigns the MPI as the national focal point for accessing the GCF to mobilize funding sources for green growth programs and projects and respond to climate change.
Vietnam has actively participated in the GCF’s activities over the past time. Vietnam has attracted USD 148 million for five non-refundable aid projects since 2016. Vietnam was one of the few developing countries to contribute USD 1 million to the GCF in August 2020, fulfil the Vietnamese Government’s commitments andresponsibilities to the international community. However, besides the Government’s efforts of budget to achieve the set goals, Vietnam has needed a large number ofthe financial investments from developed countriesfor climate change . Ministries, line ministries and localities, representatives of donors and development partners should jointly mobilize more resources to achieve USD 100 billion per year to invest in climate change as committed in Paris in 2015.
Overview of the Conference. Photo: MPI
Ms. Diane McFadzien, as Regional Manager of Asia Pacific, GCF at the Conference congratulated the Vietnamese Government on coordinating and mobilizing resources for projects of climate change response and green growth. She also expressed the gratitude towards the MPI, as the National Designated Authority on having participated in dialogues and cooperation with the GCF on policy structure and opportunities to support Vietnam’sresponse to climate change and low emission development investment.
Ms. Diane McFadzien informed that the GCF was established at the United Nations Framework Convention on Climate Change (COP16) in Cancun, Mexico to mobilize funding sources for low emission development investment and climate change response in developing countries. She has also given an overview on the situation, financial resources mobilization plan and support for stakeholders; priorities projects for support and cooperation in the coming time; organizations and support partners identification.
With the goals of sharing practical experience in approaching process, providing proposals and implementing projects on accessing financial resources of the GCF, the Conference had received updated information on the proposed approach to the GCF from agencies and organizations in the next period.
Nguyen Do Tuan Anh, Director General of Department of International Cooperation, Ministry of Agriculture and Rural Development (MARD) shared some information about the GCF-funded projects for the Ministry. The projects are directed and supported by the MPI; chaired by the MARD; and benefited by other related ministries, line ministries and the People's Committees of the provinces. The projects are built on the priorities of the Government, agencies, current policies and support for the Paris Agreement implementation. The projects have emphasized on community-based disaster risk management, coastal forest restoration, smart agriculture adaption to climate change and projects to increase the resilience of vulnerable farmers, promoting the cooperation between programs and projects, linking the private sector with community-based approaches.
In Thua Thien Hue province, Nguyen Quang Cuong, Deputy Director of the Department of Planning and Investment of Thua Thien Hue Province informed about features, factors and natural conditions of the province and said that Thua Thien Hue is one of the five localities forecasted to be most affected by climate change in Vietnam; often affected by natural disasters, suffered from great loss of life and property. The province hoped to take part in the GCF’s program in the coming time. It proposed to GCF climate change adaptation projects of 31 communes seriously affected to contribute to climate change resilience; capacity, knowledge and awareness enhancement on environmental and climate issues; natural disaster prevention and mitigation; building some small-scale project to enhance protection and resilience; scaling up smart agricultural models, etc.
At the conference, representatives from ministries, line ministries such as Ministry of Transport, Ministry of Construction, Ministry of Natural Resources and Environment, the Vietnam Development Bank; international organizations such as UNDP, IFAD, and organizations recognized by the GCF in Vietnam provided information and learned lessons in the process of implementing the GCF-funded projects, and proposed projects in the coming time. This is also an opportunity for related parties to update information about the GCF, exchange experiences and review opportunities to access climate finance resources of the GCF, thereby determining the next roadmap to better mobilize and manage the SDGs implementation./.
Ministry of Planning and Investment