Expected 45 types of projects to be granted green credit and green bond issuance
It is expected that there will be 45 types of investment projects in 7 areas confirmed to meet environmental criteria for granting green credit and issuing green bonds.
On April 14, Party Central Committee member, Deputy Prime Minister Tran Hong Ha chaired a meeting with ministries and branches to give opinions on important contents in the draft Decision of the Prime Minister on environmental criteria; confirm projects granted green credit and green bond issuance.
According to the report of the Ministry of Agriculture and Environment, it is expected that there will be 45 types of investment projects in 7 areas confirmed to meet environmental criteria for granting green credit and issuing green bonds:
Energy (10); transportation (3); construction (2); water resources (3); agriculture, forestry, aquaculture and biodiversity conservation (6); processing and manufacturing industry (6); environmental services (9).
Minister of Agriculture and Environment Do Duc Duy said that the final product of the decision is to issue criteria to confirm an investment project as a green project; the process of appraisal, evaluation and issuance of green project confirmation certificates to be able to use them to access green credit and issue green bonds.
To solve the biggest problem is the regulation on organizing project confirmation to meet environmental criteria, the Ministry of Agriculture and Environment proposes that organizations that independently confirm operations in the field of service certification, auditing to conduct assessments and grant green project confirmation certificates.
The issuance of a certificate is considered a condition and basis for the investor of the investment project to enjoy the State's preferential policies on green credit, green bonds (if any) or for credit institutions to consider granting green credit, guaranteeing the issuance of green bonds.
Concluding the meeting, Deputy Prime Minister Tran Hong Ha emphasized the issuance of a decision not only to handle environmental pollution but also to green transformation, to transition to a domestic circular economy; increase the competitiveness and integration of Vietnamese goods in the international market; contribute to preventing unenviable projects.
The Deputy Prime Minister said that the scope of regulation and subjects of application in the decision need to be expanded and supplemented for projects that are undergoing improvement and conversion to greener, cleaner technology.
State agencies and organizations that appraise environmental impact assessment (EIA) reports can confirm that the project meets environmental criteria and is granted green credit and green bonds if the investor has requirements with standards and technical standards higher than the current level.
The confirmation document can be considered a condition and basis for consideration to prioritize attracting investment.
Technical requirements and criteria need to refer to standards and regulations in countries and major export markets for Vietnamese goods or those with higher development standards.
The Ministry of Agriculture and Environment coordinates with ministries and branches to review and select fields and project types to avoid duplication and specify the grouping and decentralization of fields.
Clearly stipulate the process and content of confirmation to clarify the responsibilities of independent confirmation agencies; build a database of certified green projects and make them public, update, connection, and connectivity.
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