Green Finance in Viet Nam: Barriers and Solutions

Viet Nam has abundant sources of renewable energy that remain untapped. Viet Nam has made considerable strides in achieving a high percentage of nationwide electrification and a relatively diversified energy mix that is dominated by hydropower, followed by gas and coal. To sustain these achievements...

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Bibliographic Details
Published in:Policy File 2018
Main Authors: Nguyen, Trong Co, Chuc, Anh Tu, Dang, Le Ngoc
Format: Report
Language:English
Subjects:
Asian Development Bank Institute
Banking/Finance
Developing countries
Energy
Environment
LDCs
Online Access:Request full text
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Summary:Viet Nam has abundant sources of renewable energy that remain untapped. Viet Nam has made considerable strides in achieving a high percentage of nationwide electrification and a relatively diversified energy mix that is dominated by hydropower, followed by gas and coal. To sustain these achievements including addressing gradually depleted domestic resources, keeping pace with growing energy demand from the energy-intensive economy, and meeting ambitious climate change targets under the nationally determined contributions in the Paris Agreement, large sums of new investment are needed, particularly in renewables. Without these investments, Viet Nam will increasingly rely on imported coal to cater to its future energy needs, with substantial negative environmental, health, climate change, and economic consequences. Based on the existing challenges, we recommend establishing more conducive conditions for private investment and strengthen the domestic funding environment through a functional financial market.