Adapting to climate change and protecting the environment in collaboration with The International Finance Corporation (IFC)

DNHN - The two parties have agreed to sign a memorandum of understanding on collaboration issues between the Ministry of Natural Resources and Environment and IFC on the execution of Vietnam's COP26 accord, environmental protection, and climate change adaptation.

On the evening of April 12, Minister of Natural Resources and Environment Tran Hong Ha met with Mr Alfonso Garcia Mora, Vice President in Charge of Asia-Pacific, International Finance Corporation (IFC), and agreed to expand areas of cooperation between the two sides in environmental protection and climate change response.

During the meeting, the two parties agreed to sign a memorandum of understanding on cooperation topics between the Ministry of Natural Resources and Environment and the IFC on the execution of Vietnam's COP26 accord, environmental protection, and climate change adaptation. Changes in climate

We're working with the International Finance Corporation (IFC) to adapt to climate change and protect the environment, so we can stay safe. As a result, IFC proposes to support and collaborate with the Ministry of Natural Resources and Environment on green credit and e-waste management in Vietnam's low-carbon transition by providing long-term capital for green enterprise projects or acting as a catalyst to mobilize other long-term international capital sources for enterprise carbon reduction projects.

Along with that, assistance in the development and implementation of policies, regulations, and standards to encourage businesses to invest in reducing carbon emissions in the following areas: green project classification and identification; development of standards and regulations to promote the recycling industry; green shopping; investment promotion and incentive programs to attract private sector investment in green and decarbonized initiatives;

IFC also suggested helping draft procedures for mortgaging firms' land use rights for foreign loans within the scope of the new Land Law...

According to Minister Tran Hong Ha, the Ministry of Natural Resources and Environment has been designated by the government as the focal agency for implementing Vietnam's obligations at COP26, reducing greenhouse gas emissions, and adapting to climate change. 

To complete this job, in addition to Vietnam's efforts, it needs the help of foreign partners. In this regard, Mr Ha said that the role of the IFC is critical in connecting international organizations and significant enterprises from across the globe to invest in Vietnam.

 PV