Vietnam developing green buildings towards net zero emissions

Vietnam is focusing on developing more green works as an effort to achieve net zero emissions by 2050.

This target was committed by Prime Minister Pham Minh Chinh at the 26th United Nations Climate Change Conference (COP26) last November.

Policies have been issued to realise the commitment such as the national green growth strategy and action plan for 2021 - 2030, with a vision to 2050; the national strategy on climate change by 2050; and the national programme on efficient energy use for 2019 - 2030.

Last May, the Minister of Construction also approved the construction sector’s action plan on climate change response for 2022 - 2030, with a vision to 2050, to help implement the COP26 commitments.

According to the Ministry of Construction’s report delivered at the recent Vietnam Green Building Week 2022, the sector has posted average annual growth of 9% in recent years, while the urbanisation rate reached 40.5% by the end of 2021, leading to rising energy demand in the sector.

Meanwhile, green buildings in Vietnam total only more than 230 at present, too small compared to the number of those already built as well as the potential and demand for energy efficiency and environmental protection.

According to experts from Savills Vietnam, investors have paid greater attention to the sustainable construction in real estate, especially green offices, to satisfy the new requirements of tenants.

They predicted that by 2025, green office will become a major trend. Hoang Nguyet Minh, Commercial Leasing Director of Savills Hanoi, said that from now to 2024, at least six office projects in Hanoi will receive green certificates.