Seminar discusses opportunities and challenges in reaching net zero emissions

According to experts, the race towards net zero emission offers a wealth of opportunities and advantages for businesses that have made early commitments.

Furthermore, enterprises that have timely positioned their brands in the face of changing consumer trends will seek to exploit the potential of market diversification, especially when promoting import and export activities.

The active engagement of the business community, especially the private sector and consumers, will also serve to create a wave of green economic development and build a sustainable foundation for green growth.

In line with this, the Government and localities are required to devise creative mechanisms and breakthrough policies aimed at creating favourable conditions for enterprises to transform their production and business models, along with raising public awareness about green growth and sustainable development.

During the forum, Professor, Dr. Jonathan Pincus, senior international economist of the UN Development Organization (UNDP) analysed that the transformation in the field of renewable energy and energy saving represents one of the key issues.

He emphasised the need to devise technological solutions, make use of energy-saving materials, as well as develop renewable energy to meet the requirements of sustainable development and green growth.

Sharing this perspective, Ha Dang Son, deputy director of Vietnam Low Emission Energy Programme II (V-LEEP II), stressed the need to view renewable energy development as an opportunity.

Each country must come up with a long-term plan, particularly as the country has been encouraged to promote business models suitable to the renewable energy market and green growth goals, Son added.

Phan Van Mai, chairman of the Ho Chi Minh City People's Committee, revealed that the southern city has issued a strategy specifically aimed at developing a green economy through building green transition policy institutions across multiple fields, with a specific focus on energy, technology, and manufacturing.

Moreover, the local administration is also focused on promoting the construction of green urban infrastructure, along with green human resources through learning experiences from international models and mechanisms which seek to ramp up international cooperation.

Ho Chi Minh City will therefore mobilise resources and join hands with the Government to realise the goals of sustainable development and green growth, as well as accompanying businesses to support them, Mai said.

At present, the southern city has chosen Can Gio as a pilot locality to reduce carbon emissions, Mai added.