The Deputy Prime Minister requested to urgently develop a set of green criteria for the economy

The Deputy Prime Minister requested the Ministry of Planning and Investment to urgently build a national green economic sector system and the Ministry of Natural Resources and Environment to research and soon submit to the Prime Minister to promulgate a set of national green criteria.

Unified tool to evaluate the process of greening the economy

This morning (June 10), Deputy Prime Minister Tran Hong Ha chaired a meeting with functional ministries and branches, listening to reports and giving opinions on promulgating the national green economic sector system.

Government leaders emphasized that green criteria are very important for Vietnamese businesses in international integration and attracting investment. Some issues that need to be clarified when building a national green economic sector system are political and legal bases; connotations, awareness, and approaches to existing economic sectors and emerging green economic sectors.

Reporting to the Deputy Prime Minister at the meeting, Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc said that the national green economic sector system is the basic framework and basis for building technical criteria in the form of detailed, supporting lists for specific industries and fields.

The list is built in accordance with Vietnam’s economic sector system, referencing and learning from the classification lists of countries around the world.

According to international experience, many countries use a green classification system that identifies economic activities and investments that help promote the achievement of environmental protection goals such as reducing net emissions to zero by 2050.

The green classification system supports and evaluates the process of greening the economy through statistical tracking and reporting of public and/or private spending and investment for green growth on the basis of specific criteria, in accordance with international practices. This is the basic foundation for building policies to promote and support green transformation and regulate and promote investment capital flows and encourage investment in activities that contribute to environmental goals and green growth.

Integrate green criteria into existing and emerging economic sectors

Vietnam’s draft green economic sector system was built based on reference and learning from lists of standards in the world, and adjusted to ensure compliance with the purpose of construction and nationalization. The national green economic sector system applies a top-down approach, based on an assessment of Vietnam’s economic sector system, from which to select target groups and provide definitions and criteria for determining the level of green. Therefore, this system aims to build a unified tool to comprehensively evaluate the process of greening the economy on the basis of statistics of activities and projects contributing to the green economy.

Deputy Minister Nguyen Thi Bich Ngoc affirmed that the national green economic sector system plays a very important role and should be considered and promulgated soon as a basis for ministries and branches to develop a system of technical criteria to classify green by industry and field to create a legal corridor for the application and implementation of mechanisms and policies to promote green growth.

The green classification system not only aims to bring green criteria into the current economic system but also integrates a number of new economic sectors such as investing and restoring the natural environment, using new technology in providing environmental treatment services, renewable energy…

The Deputy Prime Minister assigned the Ministry of Natural Resources and Environment to research and soon submit to the Prime Minister to promulgate a set of national green criteria as a basis for ministries and branches to develop specific sets of criteria to classify the green level for each industry and economic sector; Proposing a list of green economic sectors grouped according to different levels.

The Ministry of Planning and Investment researches and builds a national statistical system on green economy, as a basis for monitoring and evaluation; which focuses on a number of important indicators such as energy consumption for production compared to GDP, emission index per GDP, State and social spending on green economy, climate change, environment…