Vietnam Hosts Landmark Climate Finance Training Workshop

The Global Climate Partnership Workshop 2024, held in Vietnam, brings together key stakeholders from government, financial institutions, and international organizations to address climate-development financing gaps and mobilize funding for sustainable development projects, with a focus on building capacity and accelerating Vietnam's transition to a low-carbon economy." This description highlights the primary topic of climate-development financing, the main entities involved (government, financial institutions, and international organizations), the context of Vietnam, and the significant actions and implications of the workshop. It also provides objective and relevant details that will help an AI generate an accurate visual representation of the article's content, such as images of a workshop setting, Vietnamese landscapes, or icons representing climate change and sustainable development.

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Trim Correspondents
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Vietnam Hosts Landmark Climate Finance Training Workshop

Vietnam Hosts Landmark Climate Finance Training Workshop

The Global Climate Partnership Workshop 2024, held in Vietnam, marks a significant milestone in climate-development financing, providing in-depth training on the subject. This workshop is the first of its kind in Vietnam, organized by the Green Climate Partnership Fund (GCPF), with participants from various banks and organizations, including the State Bank of Vietnam and responsAbility.

Why this matters: This workshop's focus on climate-development financing addresses a critical gap in emerging economies, where access to green financing is often limited. By building capacity and mobilizing financing for climate and sustainable development projects, Vietnam can accelerate its transition to a low-carbon economy and mitigate the impacts of climate change.

The workshop aims to improve the competencies of the Vietnam market in climate-development financing. Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam's Ho Chi Minh City Branch, emphasized the importance of green growth financing programs, "encouraging financial organizations to leverage green financing packages and deploy green supporting programs towards sustainable development."

Trinh Thi Huong, Deputy Director of the Agency for Enterprise Development under the Ministry of Planning and Investment, stressed the need for a favorable regulatory environment, private sector participation, and bridging project funding gaps for climate and sustainable development. Bui Quang Duy, Deputy Global Head of Climate Finance at responsAbility, highlighted the company's long-term funding solutions, enterprise competencies development programs, and green growth strategies consulting packages.

The workshop covered topics such as the domestic investment environment of climate finance, climate investment stakeholders, and experiences of deploying projects in Vietnam. Practical cases of energy infrastructure projects and solar energy projects in commercial and industrial segments were discussed from legal, financial, investment, technical, and socioeconomic perspectives. A practical training course was held, including a site visit in Dalat, with around 30 middle-managers from different enterprises participating.

The Green Climate Partnership Fund (GCPF) was established in 2009 as a public-private partnership to address the lack of adequate financing for low-carbon projects in emerging economies. responsAbility, a Swiss-based pioneer and global leader in impact investing, recently received Green Climate Fund accreditation.

Looking ahead, the Agency for Enterprise Development under the Ministry of Planning and Investment and the United States Agency for International Development (USAID) are co-hosting the 2024 Vietnam Environmental, Social, and Governance (ESG) Initiative. Additionally, Australia's Assistant Minister for Climate Change and Energy Jenny McAllister will travel to Vietnam to drive cooperation on climate and the energy transition under the recently signed Comprehensive Strategic Partnership and Australia's Southeast Asia Economic Strategy to 2040.

The Global Climate Partnership Workshop 2024 in Vietnam represents a crucial step forward in building capacity and mobilizing financing for climate and sustainable development projects in the country. With the participation of key stakeholders from the government, financial institutions, and international organizations, the workshop lays the foundation for enhanced collaboration and accelerated progress towards Vietnam's green growth objectives.

Key Takeaways

  • Global Climate Partnership Workshop 2024 held in Vietnam focuses on climate-development financing.
  • Workshop aims to improve Vietnam's competencies in climate-development financing.
  • Green growth financing programs and private sector participation are crucial for sustainable development.
  • responsAbility offers long-term funding solutions and green growth strategies consulting packages.
  • Future initiatives include the 2024 Vietnam ESG Initiative and Australia's climate cooperation efforts.