CLIMATE FINANCE PRACTICE AND APPROACH IN VIETNAM

To support the Government of Vietnam’s efforts to adopt climate smart practices, attract climate finance, and strengthen private sector competitiveness, the US Agency for International Development (USAID) is collaborating with the Ministry of Industry and Trade (MOIT) to develop technical guidance for the private sector on how to take advantage of new opportunities in climate finance. To that end, USAID engaged a consortium led by RCEE-NIRAS to prepare this technical guidance document and funded the work through the USAID INVEST project. 

RCEE-NIRAS consulted with MOIT and Vietnamese business associations to understand priorities and information needs and based on these discussions developed the outline for this document which summarizes existing tools, mechanisms, and sources available to finance climate change mitigation and adaptation. It also provides information on global green finance initiatives and policies, including green bonds, climate funds, carbon credits, and other forms of international funding. The document concludes with a discussion of challenges and opportunities in mobilizing and allocating financing for solutions to tackle climate change.