Action Plan of the Ministry of Finance of Vietnam for Implementing the National Strategy on Green Growth for the 2021 - 2030 Period

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16:45, 23/08/2024

The following article will provide the content of the Action Plan of the Ministry of Finance of Vietnam for Implementing the National Strategy on Green Growth for the 2021 - 2030 Period

Ministry of Finance's Action Plan to Implement the National Strategy on Green Growth for the Period 2021 - 2030

Action Plan of the Ministry of Finance of Vietnam for Implementing the National Strategy on Green Growth for the 2021 - 2030 Period (Internet image)

On August 15, 2024, the Minister of Finance issued Decision 1934/QD-BTC concerning the Action Plan to Implement the National Strategy on Green Growth for the Period 2021-2030.

Action Plan of the Ministry of Finance of Vietnam for Implementing the National Strategy on Green Growth for the 2021 - 2030 Period

The action plan to implement the National Strategy on Green Growth for the period 2021-2030 is as follows:

TT	Specific Tasks	Lead Unit	Coordinating Units	Implementation Time	Output
I	Developing and perfecting institutions, policies, enhancing the effectiveness and efficiency of state management associated with green growth objectives
1.1	Complete the comprehensive framework of mechanisms, policies, and laws to promote economic restructuring associated with the innovation of the growth model towards green; integrate green growth into sectoral, territorial socio-economic development strategies, planning, and plans in an interdisciplinary, inter-regional approach, promoting green sectors, reducing greenhouse gas and pollutant emissions, using resources efficiently, applying the circular economy model, enhancing resilience to climate change and natural disaster, focusing on vulnerable areas.
1.1.1	Develop and issue the Ministry of Finance's Action Plan to Implement the National Strategy on Green Growth for the period 2021-2030	Institute of Financial Strategy and Policy (IFSP)	Related Units	2024	Decision of the Ministry of Finance
1.1.2	Evaluate and provide data on the vulnerability, risks, losses, and damages of the Ministry of Finance to assess the socio-economic impact of climate change, national natural disasters, and multi-natural disasters.	Department of Information and Financial Statistics (DIFS)	Related Units	2022-2030	Integrated database with the “National Green Growth Database” on the vulnerability, risks, losses, and damages due to climate change, national natural disasters, and multi-natural disasters of various sectors and localities.
1.1.3	Develop a system of standards and criteria for green classification according to sectors and areas managed by the Ministry of Finance	IFSP	Related Units	2022-2030	Submission for approval to the authorities of the system of standards and green classification criteria by sector and field for study and integration into the national system (after the national criteria are issued).
1.2	Enhance the efficiency and effectiveness of state management in monitoring and evaluating the implementation of the National Strategy on Green Growth and the greenness of the economy
1.2.1	Annual reports, mid-term review in 2025, summary in 2030	IFSP	Related Units	2022-2030	Periodic reports of the Ministry of Finance
1.2.2	Develop the Ministry of Finance's green growth database utilizing the national geo-database and the Green Growth Management and Assessment System of the Ministry of Finance.	DIFS	Related Units	2022-2030	Green growth database system of the Ministry of Finance
II	Communication, education, and raising awareness
	Communicate about the norms, values of green living culture, and green lifestyle within the educational sector, local community, and various agencies and enterprises
	Integrate communication on the role and significance of green growth, disseminate regulations and policies promoting green growth, societal responsibilities, encourage practical actions towards a green, nature-harmonizing lifestyle connected to traditional cultural values, resilience to climate change, and natural disasters in national target programs and the media channels of various agencies, sectors, and localities	Financial sector press agencies	Related Units	2022-2030	Communication plans; promotional articles
III	Developing green human resources and green jobs
	Enhance education and training on green sectors, fostering knowledge, and managerial skills in green growth.
	Train and foster knowledge, managerial skills in green growth, green economic development, and digital economy	Financial Training School	Related Units	2022-2030	Training programs, workshops, and knowledge enhancement courses.
	- For public administration staff (focus on leaders, managers, policymakers)
	- For enterprises, especially about greening production and consumption
IV	Mobilizing financial resources and promoting investment for green growth
4.1	Develop policies and tools for resource mobilization for green growth and green transition
4.1.1	Improve policies for managing and prioritizing the use of state budget resources for programs, projects, tasks related to green growth and green transition
	Public investment plan and budget estimates of the Ministry of Finance	Department of Corporate Finance (DCF)	Related Units	2022-2030	State budget plans, budget estimates of the Ministry of Finance
4.1.2	Improve the legal framework for green bonds, and green insurance
a	For issuing green bonds (government bonds, local government bonds, and corporate bonds).	Banking and Financial Institutions Department (BFID)	State Securities Commission (SSC); State Treasury (ST), Public Asset Management (PAM), State Budget Department (SBD), and related units	2022-2025	Regulatory documents on green bond development
b	Develop and improve programs and solutions to promote green insurance.	Insurance Supervisory Authority (ISA)	Related Units	2022-2025	Policies and solutions for green insurance development
4.1.3	Develop and improve policies on state budget revenue and expenditure for activities towards green growth and green transition
a	Submit to authorities for annual budget allocation for ministries and central agencies to implement the National Strategy on Green Growth according to current regulations	Department of Administrative and Financial Support (DAFS)	SBD, related units	2022-2025	State budget plans, budget estimates for implementing the Green Growth Strategy
b	Research policies managing state budget revenues for investment activities in green growth, focusing on tax tools for regulating carbon-emitting activities	Department of Tax Policy (DTaP)	Related Units	2022-2025	Documents from competent authorities.
c	Research, propose policies managing and using state budget expenditures from regular spending for green growth activities	DAFS	Related Units	2022-2025	Documents from competent authorities.
d	Amend and supplement some contents of taxes, and fees on environmental protection following the principle of using tax and fee tools to regulate activities, products, and goods that emit carbon and negatively impact the environment.	DTaP	Related Units	2022-2030	Regulatory documents amending tax and fee provisions on environmental protection.
e	Research, develop, and issue a list of products and technologies using efficient energy, environmentally friendly, and low-emission technologies eligible for tariff incentives.	DTaP	Related Units	2026-2030	Regulatory documents issuing lists of products and technologies eligible for tariff incentives.
4.1.4	Develop a carbon market in Vietnam
a	Establish a carbon credit trading floor	Legal Department	Related Units	2022-2030	Documents from competent authorities establishing a carbon credit trading floor.
b	Research financial management mechanisms for carbon market activities.	Legal Department	Related Units	2022-2030	Regulatory documents stipulating financial management for carbon market activities.
4.2	Enhance access to green finance, climate finance, and sustainable finance.
	Issue financial incentive policies for green investments, green credit, and climate finance to encourage investments in green projects, promoting green growth, and green transition
	- For tax incentive policies	DTaP	Related Units	2022-2025	Documents from competent authorities.
	- For regular state budget spending incentive policies	DAFS
	- For state investment credit policies	BFID
V	Science and technology, innovation
	Promoting green growth based on digital transformation
	Apply digital technology, information technology in management systems, governance, operation supporting tasks, green growth activities. Complete and update the Government of Vietnam's e-Government architecture at all levels.	DIFS	Related Units2022-2030		Programs, projects, activities on applying digital technology, information technology in managing and administrating green growth activities.
VI	Integration and international cooperation
6.1	Mobilize resources and funding from foreign partners for climate change and green growth areas
	Mobilize resources from foreign partners for the field of climate change and green growth (including cooperation with ministries, sectors, localities, foreign investors, and the international community)	PAM	Related Units	2022-2030	Cooperation agreements under authorized jurisdiction
6.2	Enhance integration and international cooperation
a	Actively participate, organize sharing, learning activities, enhance capacity, coordinate technology transfer research to implement green growth	International Cooperation Department (ICD)	Related Units	2022-2030	Cooperation agreements, sharing, learning activities, capacity enhancement partnerships with international entities by sector, area, and levels under authorized jurisdiction
b	Research and propose to development partners about technical support projects for green growth	ICD
c	Actively coordinate and participate with the international community to address global and regional issues and challenges in green growth implementation	ICD
VII	Promote the implementation of the Law on Energy Saving and Efficiency; complete the regulatory framework on efficient energy use
	Issue mechanisms, policies, legal regulations for the business model of energy-saving service companies (ESCO)
	Financial regulations for the ESCO business model.	Department of Debt Management and External Finance (DDEF)	Related Units	2022-2025	Regulatory documents amending supplementary legal and financial regulations for the ESCO business model (after the ESCO operational model is issued)
VIII	Green and sustainable consumption and procurement: Promote green public procurement, green public services, and labeling programs to adjust consumption behaviors
	Promote green public procurement, integrate green procurement criteria into the contractor selection process; focus on training green public procurement skills; innovate public service activities towards green
	Implement green procurement, green public services for the Ministry of Finance.	Office of the Ministry	Related Units	2022-2030	Research projects, implementation plans on green public procurement, green public services by the Ministry of Finance.

More details can be found in Decision 1934/QD-BTC which comes into force in Vietnam from August 15, 2024.

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