PM seeks Standard Chartered's support for Vietnam's climate change commitment

Speaking at the event, which took place on the sidelines of COP28, PM Chinh said at the 26th United Nations Climate Change Conference of the Parties (COP26), participating countries jointly committed to achieving net-zero emissions, energy transition, reducing methane emissions, protecting forests, and enhancing community and environmental resilience.

With commitments at COP26, Vietnam and international partners adopted the Political Declaration on establishing the Just Energy Transition Partnership (JETP), with the goal and actions to implement green transition, he said.

The PM suggested organisations and businesses establish new visions, adopt new thinking, show greater determination and take more drastic actions to accompany the Vietnamese Government in achieving the climate change response goals.

They were urged to continue assisting Vietnam in perfecting mechanisms and institutions, financial resources, technology, management experience and human resources to realise its desire for open policies and mechanisms, smooth infrastructure, and smart governance to help Vietnam in transition to green energy and achieving net-zero emissions by 2050.

Winters, for his part, expressed strong support for Vietnam's commitments, steps and actions in the green transition process towards net-zero emissions by 2050.

He said Standard Chartered will increase support for Vietnam in raising funds, attracting green financial resources, and promoting green growth in line with the commitments made at COP26. The bank also aims to contribute to Vietnam's development, including the establishment of a green capital market and carbon credit market.

On this occasion, PM Chinh and representatives of Vietnamese ministries, agencies and international organisations witnessed the exchange of nine cooperation agreements between ministries, agencies, organisations and businesses on supporting Vietnam's green development.

At an earlier reception for Winters and other leaders of the bank, PM Chinh wished that the lender would continue assisting Vietnam with preferential financial sources to promote green growth, digital transformation and sustainable energy transition. He also encouraged investments in strategic infrastructure, including digital and green infrastructure, and key infrastructure projects.

Vietnam will continue creating favourable conditions for Standard Chartered to maintain and expand its operations in the country, in the spirit of “harmonising interests and sharing risks”, he said.