Speakers at the “Green Economy Forum 2023: Net Zero - Path to Sustainable Development” last Friday in HCM City.VNA/VNS Photo

HCM CITY — HCM City is committed to achieving net zero emissions by 2050 by adopting policies and mechanisms to transition into a green and sustainable economy. 

Speaking at the “Green Economy Forum 2023: Net Zero - Path to Sustainable Development” last Friday, Phan Văn Mãi, chairman of the city People’s Committee, said resources have been allocated to facilitate this green transition and to meet the nation’s goal of zero emissions by 2050. 

The city has strategies in place for achieving green economic development, circular economy, energy transition, and sustainable urban development, according to the chairman. 

It also plans to enhance its energy, urban and social infrastructure green to achieve green growth.

It has identified Cần Giờ District as a pilot site for achieving carbon neutrality, and would develop a comprehensive plan to achieve zero emissions there by 2030, with a focus on transitioning vehicles to renewable energy sources, adopting advanced waste and garbage treatment technologies, and utilising carbon credits, he revealed.

Mãi also called on businesses to fulfil their commitments and obtain certification that demonstrate their progress towards net zero. 

Many domestic businesses had in fact already begun transforming their operations to align with sustainable development and environmental friendliness, he added.

Jonathan Pincus, senior international economist at UNDP, said the transformation required the adoption of technological solutions, efficient use of energy-saving materials, and the development of renewable energy.

"To support these efforts, both domestic and international policy co-ordination is needed," he said.

Hà Đăng Sơn, deputy director of the Việt Nam Low Emission Energy Program II (V-LEEP II) of USAID, said many banks and organisations, both Vietnamese and foreign, had made commitments to financially support the country’s green transition. 

Việt Nam must effectively utilise these funds. 

Tan Boon Thor, director of commercial real estate and design management at Frasers Property Vietnam, said businesses needed to take concrete action to achieve their net zero goals.

He suggested implementing emission reduction schemes, adopting energy-saving technologies and raising awareness of net zero throughout management, suppliers, and workers.

Lâm Tố Trinh, deputy general director of innovation and business development at NS BlueScope Vietnam, said businesses that want to enter the global market must develop specific carbon emission reduction plans.

The government should establish legal frameworks and policy systems to encourage the participation of all parties in the green economy and create guidelines to attract all kinds of stakeholders in production, business and finance, he said.

The forum was organised by Saigon Economic Times to discuss Việt Nam’s efforts to achieve net zero emissions by 2050 as committed at the United Nations Climate Change Conference in 2021. — VNS