Carbon finance as a driver for green innovation
On June 19 and 20 2020, the Project Management Unit of the Biogas Program for the Animal Husbandry sector of Vietnam, SNV Vietnam, and Vietnam Climate Innovation Center co-organised a workshop on “Carbon Finance as a Driver for Green Innovation” in the city of Hai Phong. The event received the leaders of the Department of Livestock Production, among other relevant ministries. It was attended by a total of 85 participants from government organisations, local companies including investors, technology providers and NGOs.
The Carbon Finance as a Driver for Green Innovation workshop enabled a platform to discuss opportunities for carbon financing towards the green development in Vietnam. The event presented the successful achievements from the Biogas Program for the Animal Husbandry Sector of Vietnam such as becoming the first domestic biogas project in Vietnam registered under the Gold Standard.
Additionally, the workshop provided a summary of the process for developing carbon projects; from the early stage of establishing the operation, the monitoring and evaluation of projects, to the successful issuance of carbon credits under the voluntary mechanism.
Dr. Tong Xuan Chinh, Director of the Biogas Program, stated during the event: "Until now, the program has issued more than 3 million carbon credits. The revenue from carbon sales of around $ 8 million USD has covered more than 50% of the program’s operational costs during the 2016-2020 period."
Participants, which predominantly came from the private sector, were able to learn about the different alternatives in which their businesses and projects can commercialise the reduction of greenhouse gas emissions to increase revenue streams. By doing this, companies and businesses working in the climate and green energy sector, will be able to orient their development into expanding their operations geared towards the prospects of a greener development for Vietnam.
The post-workshop report, and the link to the slides, photographs and documents from this event, can be accessed by clicking here.