The Deputy Prime Minister emphasized that green criteria are very important for Vietnamese enterprises in international integration and investment attraction. Some issues that need to be clarified when building a national green economic sector system are: Political and legal basis; content, awareness, and approach to existing economic sectors and emerging economic sectors in the green direction.
A unified tool to assess the greening of the economy
Reporting to the Deputy Prime Minister at the working session, Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc said that the national green economic sector system is the basic framework and basis for developing technical criteria in the form of supplementary and detailed lists for specific sectors and fields. The list is built in accordance with the Vietnamese economic sector system, referring to and learning from the classification lists of countries around the world.
In international experience, many countries use a green taxonomy that identifies economic activities and investments that help promote the achievement of environmental protection goals (e.g. net zero emissions by 2050).
The green classification system supports and evaluates the greening of the economy through statistics, monitoring and reporting on public and/or private spending, and investment for green growth based on specific criteria, in line with international practices. This is the basic foundation for developing policies to promote and support green transformation and regulate, promote investment flows, and encourage investment in activities that contribute to environmental goals and green growth.
Vietnam's draft green economic sector system is built based on references and learning from international standard catalogues, and adjusted to ensure suitability for construction and nationalization purposes.
The national green economic sector system does not overlap or conflict with the set of environmental criteria and the confirmation of projects granted green credit and issued green bonds (Green Classification List) currently being developed by the Prime Minister and assigned to the Ministry of Natural Resources and Environment.
The national green economic sector system applies a top-down approach, based on an assessment of the Vietnamese economic sector system, to select target groups and provide definitions and criteria for determining the level of greenness. Therefore, the national green economic sector system aims to build a unified tool to comprehensively assess the greening process of the economy based on statistics of activities and projects contributing to the green economy.
Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc affirmed that the national green economic sector system plays a very important role and needs to be considered for early promulgation as a basis for ministries and sectors to develop a system of technical criteria for classifying green by sector and field to create a legal corridor for the application and implementation of mechanisms and policies to promote green growth.
At the meeting, representatives and leaders of the Ministry of Natural Resources and Environment, the Ministry of Industry and Trade, the State Bank of Vietnam, and the Ministry of Justice focused on analyzing and clarifying many contents related to the issue of political awareness, theory of green economy, criteria of green economy; international experiences on green economy; classification of green economy; coordination between ministries and local sectors in classifying and implementing contents on green economy; attracting investment in green economic development. The opinions expressed affirmed that the approach to building a national green economic sector system must ensure inheritance, integration, and not conflict with current green classification lists;...
Integrating green criteria into existing and emerging economic sectors
Concluding the meeting, the Deputy Prime Minister assessed that the Ministry of Planning and Investment has demonstrated a sense of responsibility and commitment in performing the tasks assigned by the Government and the Prime Minister in implementing the green growth strategy.
The Deputy Prime Minister emphasized the integration of green criteria into the national economic system to implement major policies and viewpoints of the Party and State as well as strategies, plans and laws on green economy and circular economy.
The green classification system not only aims to incorporate green criteria into the current economic system but also integrates a number of new economic sectors such as: Investment and restoration of the natural environment, use of new technology in providing environmental treatment services, renewable energy, etc.
The Deputy Prime Minister assigned the Ministry of Natural Resources and Environment to research and soon submit to the Prime Minister for promulgation a set of national green criteria as a basis for ministries and branches to develop specific criteria to classify the green level for each economic sector and field; propose a list of groups of green economic sectors according to different levels.
The Ministry of Planning and Investment will research and develop a national statistical system on green economy as a basis for monitoring and evaluation, focusing on a number of important indicators such as energy consumption for production compared to GDP, emission index on GDP, state and social spending on green economy, climate change, environment, etc.
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