Public finance policy to adapt to climate change

The consequences of climate change have been causing many difficulties for economic activities in many parts of the world.

On November 8, 2024, the UEH School of Economics, Law and Public Administration under the University of Economics Ho Chi Minh City (UEH) coordinated with the Academy of Finance, the Institute of Fiscal Strategy and Policy and Nha Trang University to organize the 2024 National Conference with the theme "Public Finance Policy Adapting to Climate Change".

In recent times, climate change has increasingly posed challenges to the global socio-economy. The consequences of climate change have been causing many difficulties for economic activities in many parts of the world. Governments and international organizations are promoting action programs to help countries and territories respond to the unpredictable changes of climate change and its consequences. Throughout these action programs, resources are required to ensure that policies are effectively implemented.

Many countries have implemented climate change adaptation fiscal policies, but there are still countries that have not really paid attention to this issue for various reasons. Even countries that implement climate change adaptation fiscal policies still face many difficulties in forecasting, allocating resources, and choosing public policy priorities... In addition, to effectively implement climate change adaptation fiscal policies, they sometimes have to change the budget spending process, the roles of stakeholders, and the analysis and forecasting capacity of specialized agencies... These changes require support from the community to maximize resources, change public awareness to contribute to mitigating environmental consequences...

This year, the workshop “Public Finance Policy Adapting to Climate Change” will have the participation of key speakers, such as: Associate Professor Dr. Pham Khanh Nam, Rector of the University of Economics, Law and Government (UEH-CELG), with the topic “Carbon sovereignty and Vietnam’s climate finance policy” to clarify the carbon market as an important policy tool for Vietnam to achieve its commitment to reduce greenhouse gas emissions according to the Nationally Determined Contribution and the goal of carbon neutrality by 2050. In addition, carbon sovereignty is the main approach to building a carbon market, helping to optimize economic opportunities from carbon transactions, protect national interests in international negotiations and attract long-term climate finance.

Dr. Le Thi Thuy Van, Deputy Director of the Institute of Strategy and Financial Policy (Ministry of Finance), with the topic "Financial policies to respond to climate change in Vietnam" will analyze the impacts of climate change and the need to mobilize financial resources to respond to climate change. Through analyzing financial policies to respond to climate change in Vietnam in the past period, we will identify current challenges and difficulties to propose solutions to help minimize the consequences of climate change in the future.

The 2024 National Conference received more than 70 papers from authors from many countries, with diverse topics including climate change adaptation policies, climate change fiscal policies, renewable energy development policies, climate change financing instruments, and climate change economics. The discussion content focused on aspects such as management policy responses, adaptive fiscal policies, legal frameworks, economic policies, innovation in industry, tourism, agriculture, and technology to adapt to climate change.

In addition to the two plenary sessions, 57 papers were selected to be presented in 13 parallel discussions on 8 November 2024. The parallel discussions on important global topics at the conference will provide researchers with opportunities to expand their expertise, share and contribute academic values ​​on climate change adaptation public finance policies. At the same time, this is also an opportunity to establish relationships with experts with similar interests in the research field.

Source: https://thoibaonganhang.vn/chinh-sach-tai-chinh-cong-thich-ung-bien-doi-khi-hau-157609.html