Practical applications of carbon credits for the economy. Part VII: Enhancing national image in the fight against climate change

DNHN - Reducing carbon emissions has become a top priority. In this context, carbon credits have emerged as a crucial tool to enhance a nation's image in the battle against climate change.

Pioneering in the fight against climate change

A carbon credit is a measurement unit for the amount of carbon emissions produced by an organization, company, or nation. Each carbon credit equals one ton of carbon emissions. By purchasing and using carbon credits, organizations and nations can reduce their carbon emissions and contribute to mitigating the risk of climate change.

Vietnam is a rapidly developing country with an expanding economy. However, this also means increased energy use and carbon emissions. By participating in the carbon credit market, Vietnam can create a positive image and demonstrate a strong commitment to reducing carbon emissions and protecting the environment.

One of the significant benefits of carbon credits is creating an additional source of income for the country. Carbon emission reductions can be achieved through measures such as using renewable energy, improving energy efficiency in industries and transportation, and protecting and restoring natural forest areas. These projects not only help reduce carbon emissions but also create job opportunities, improve the quality of life for communities, and preserve Vietnam's valuable natural resources.

Additionally, carbon credits help Vietnam build an image as a responsible and pioneering nation in combating climate change. By engaging in the carbon credit market, Vietnam can demonstrate its commitment to the Paris Agreement on climate change and other international commitments. Implementing carbon emission reduction projects and participating in carbon credit transactions can enhance Vietnam's credibility and status on the international stage.

To enhance Vietnam's national image through carbon credits, several specific measures and actions are needed. First, Vietnam needs to invest in developing renewable energy sources such as solar, wind, hydroelectricity, and biomass. Using these energy sources will help reduce dependence on fossil fuels and decrease carbon emissions.

Second, Vietnam needs to promote the use of energy-saving and efficient methods. Measures such as improving energy efficiency in industries, constructing green buildings, and encouraging the use of public transportation will help reduce carbon emissions.

Third, Vietnam needs to conserve and restore natural forest areas. Forests play a crucial role in absorbing carbon and reducing the greenhouse effect. Protecting and restoring forest areas will not only reduce carbon emissions but also preserve biodiversity and strengthen Vietnam's role in environmental protection.

Finally, Vietnam needs to build and promote a domestic carbon credit market. By introducing policies and mechanisms to encourage the purchase and use of carbon credits, domestic organizations and companies will be motivated to participate in reducing carbon emissions and contribute to the fight against climate change.

Therefore, carbon credits are not only an economic tool but also a way to build a positive national image in combating climate change. Vietnam has the potential to develop carbon emission reduction projects and participate in the carbon credit market. By implementing these measures, Vietnam can enhance its credibility and international participation in environmental protection and build a sustainable future for the country.

Emission reduction goal: A major attraction for foreign investors

Currently, Vietnam's emission reduction goals are attracting significant interest from international investors. In March, at the Annual Business Forum (VBF), the Prime Minister emphasized three important commitments, including ensuring energy stability with a focus on green transformation and a green ecosystem, calling on FDI enterprises to support Vietnam in its long-term sustainable development goals.

Notably, the more than 150 million USD project of the Pandora Vietnam factory has become the third factory in this group to use 100% renewable energy after the previous two factories switched to solar power.

Regarding this issue, Mr. Alexander Lacik, CEO and President of Pandora, affirmed: "The most important thing for us is access to the labor force. Second is close cooperation with government agencies and a focus on sustainable development. And third is access to good infrastructure. This factory will also set new standards in the global jewelry industry for ecological benchmarks, recycling, and CO2 emissions".

Next to the Pandora factory, the Danish Lego Group is building the world's first carbon-neutral factory.

Mr. Jacob Jensen, Minister of Food, Agriculture, and Fisheries of Denmark, observed: "Vietnam's attractiveness to investors has increased significantly, especially thanks to Vietnam's commitment to reducing carbon emissions and proactive response to climate change".

The Institute for Energy Economics and Financial Analysis (IEEFA) estimates that multinational corporations, contributing about 150 billion USD annually to Vietnam's export revenue, have specific commitments to carbon neutrality or reducing carbon emissions at various scopes and timelines. Some businesses even aim to use 100% renewable energy by 2025.

According to Mr. Le Trong Hieu, Director of the Business Consulting for Office and Industrial Real Estate Department, CBRE Vietnam, recent projects, particularly in the South, are highly focused on green environmental factors. Multinational corporations like Lego and major tenants like DHL set high environmental standards.

Experts suggest that if Vietnam effectively exploits these policies, businesses can promote the construction of energy-efficient and carbon-neutral factories, helping Vietnam become a greener and cleaner global production destination. With strong commitments to carbon neutrality, Vietnam will enhance its national image in the fight against climate change.

Nghe Nhan