Determining key areas granted green credit and green bond issuance

It is expected that there will be 45 types of investment projects in 7 areas that are certified 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).

The Deputy Prime Minister said that the regulations in the decision need to consider both the top-down approach, experience from the bottom up, in harmony with international standards and regulations, ensuring the competitiveness and participation of Vietnamese goods in the world market.

"We need to identify areas of economic interest, key environmental criteria, simple, clear and measurable confirmation methods when appraising and certifying" - said the Deputy Prime Minister.

The Government leader emphasized that the issuance of the decision not only affects environmental pollution but also green transformation, transition to a domestic circular economy; increases the competitiveness and integration of Vietnamese goods in the international market; contributes 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 concretization of groupings and sub-sectors of fields; clearly define the process and confirmation content to clarify the responsibilities of independent confirmation agencies; build a database on green projects that are confirmed and publicly announced, implement updates, connections and interconnections.

We need to design and open regulations to confirm that green projects are entitled to policies and incentives on green credit, and issue green bonds for new fields and types of projects in the future, not limiting what is available and what is available, but needing to learn good experiences.

Speaking at the meeting, Minister of Agriculture and Environment Do Duc Duy said that the Prime Minister's Decision aims to concretize the provisions in the Law on Environmental Protection on green credit and green bonds for projects in the field of environmental protection and environmental benefits; at the same time, supplementing criteria for green production projects according to the requirements of export markets.

At the meeting, leaders of the ministries of Finance, Justice... discussed a number of specific contents on the requirement for organizations to confirm independent operations to register operations in Vietnam or have branches operating in Vietnam; scope of regulation, subjects of application; mechanism for updating project type portfolios. Some opinions discussed the technical requirements for existing standards and regulations for green projects; the process and content of the confirmation document must be clear and clear, the responsibility of the independent confirmation agency...

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