Hanoi (VNA) – More drastic efforts sꩵhould be taken to encourage investment in the environment for sustainable development, Deputy Minister of Natural Resources and Environment Le Cong Thanh said on June 27.

Attending a forum called “green economy – responsibility of producers”, Thanh stressed that large corporations and foreign-invested enterprises have stepped up green transition in response to climate change and gearing towards the net-zero target. Small and medium-sized businesses account for the lion’s share of firms in the nation, and have not paid due regard to the process. “With a constructive role, the state will direct enterprises and the people to bolster green transition”, he stated. He went on to request management agencies and experts to provide reporters with necessary natural resources and environmental information, and introduce low-carbon footprint business initiatives and models to the business community. “We will study and collect opinions to complete the legal policy to protect the environment, and promote the effective use of natural resources in response to climate change, contributing to concretising the commitments that Vietnam made at the UN Climate Change Conference in Glasgow, the UK (COP26)”, Thanh said. The forum focused on green development, with highlights given to the challenges that businesses are facing while bolstering sustainable development. Participants also discussed support corridors, mechanisms and policies for the firms, as well as the roles of the press in the promotion of the green transition, the State’s policies and businesses’ operation.

The forum comprised two sessions, with the first one on “green economy – responsibility of producers” that collected opinions on green economic development, and the roles of businesses and producers in shaping up a low-carbon emission economy. Meanwhile, the second was on the “path to the green line”, where specialists exchanged their viewpoints on the shortcomings of current policies and enterprises, the roles of the press, as well as measures to remove the roadblocks. At the event, the Green Media Hub under the Vietnamese Journalists’ Association, for the first time, called on journalists to participate in the first Green Development Journalism Awards (2023-2025). The Ministry of Natural Resources and Environment has issued a plan to realise Vietnam’s commitment on cutting emissions to net zero by 2050 announced at the 26th UN Climate Change Conference (COP26) in the UK in 2021. The ministry will make amendments to legal documents, including contents concerning Vietnam’s commitments at COP26, reviewing and perfecting mechanisms, policies, and laws related to the implementation of commitments and international treaties in response to climate change. It will also be responsible for integrating climate change response into strategies and plans, and reviewing and updating development strategies and masterplans in line with the goals that the country committed to at COP26. Units under the ministry will focus on developing regulations guiding the implementation of the mechanism for exchanging and offsetting carbon credits as well as those on auction, transfer and exchange of GHG emission quotas. Regarding solutions to reduce greenhouse gas emissions, the ministry will carry out an assessment of mineral reserves for battery production, survey and assess the potential of offshore wind and radiation for renewable energy development and test technology of coal gasification, among others. Attention will also be paid to researching and piloting solutions to store carbon from major emission sources for a number of potential fields and studying solid waste disposal solutions for generating biomass power. The Ministry of Natural Resources and Environment will also review and update the national plan on climate change adaptation to 2050, and sketch out tasks for implementing the initiative “UN Decade on Ecosystem Restoration”./.