Mobilizing all resources for the goal of green growth.

On the morning of December 15th, the Finance and Investment Newspaper organized a seminar titled "Diversifying Capital for Sustainable Development" to provide a comprehensive overview of capital needs, resource mobilization trends, and policy solutions for the future. Deputy Governor of the State Bank of Vietnam, Nguyen Ngoc Canh, attended and delivered a speech at the seminar.

The financial needs for green growth are enormous.

Speaking at the workshop, Deputy Governor Nguyen Ngoc Canh stated that the world is witnessing profound changes in climate, environment, and socio-economic development. In this context, green transition has become an inevitable trend of the times. Countries, including Vietnam, are gradually adjusting their development strategies towards sustainability, balancing economic growth goals with strong commitments to global climate goals, aiming for a low-carbon economy and adapting flexibly to the challenges of the era. Specifically, Vietnam has issued and is implementing many strategies and plans consistent with the country's sustainable development orientation, especially in the era of national progress, towards the 100th anniversary of the country's founding in 2045.

According to a report by the Ministry of Finance , the financial resources needed to achieve national green growth targets and net-zero emissions by 2050 are substantial. Under a carbon neutral scenario, the total long-term investment required for green and sustainable economic development by 2050 is estimated at around US$670-700 billion, of which approximately US$368 billion (about 6.8% of GDP per year) is for climate change adaptation. This necessitates strengthening and mobilizing all resources for national green growth targets, particularly from the green bond market, green credit, carbon market, and international funding sources, in addition to state budget funds.

Deputy Governor of the State Bank of Vietnam, Nguyen Ngoc Canh, delivered a speech at the seminar.

According to the Deputy Governor, deeply aware of the importance of "green credit" and "sustainable finance," the State Bank of Vietnam has continuously improved the legal framework and policy mechanisms, and implemented comprehensive solutions to promote green credit activities; identified, assessed, and managed environmental and social risks in lending activities; thereby enhancing the responsibility of the banking system to contribute to and support the country's overall green growth goals.

Credit institutions and commercial banks have actively and proactively researched and developed green capital mobilization and green credit products to finance projects that bring environmental benefits, respond to climate change, and promote circular production models and sustainable linkages. As a result, green credit activities have continuously expanded in both scale and growth rate in recent years.

As of November 30, 2025, outstanding green credit reached approximately VND 750 trillion, increasing by an average of 21% per year from 2017 to September 2025, higher than the overall credit growth rate of the entire economy. This shows that banks and credit institutions are very interested in creating credit channels for green growth and sustainable development.

Despite the banking sector's efforts, the Deputy Governor believes that reality shows the need to diversify financial resources, requiring the participation of domestic and foreign capital channels, especially from the private sector and capital markets (in this case, the stock market), working together with the banking system to meet the requirements of green transformation and sustainable development of the country.

"Expanding green finance investment channels from various regions and markets not only helps reduce pressure on the banking system but, most importantly, facilitates the mobilization of medium- and long-term capital more flexibly, safely, and effectively for the nation's overall goals, in line with global green finance trends," the Deputy Governor emphasized.

According to the Deputy Governor, in order to find feasible and specific solutions to effectively mobilize and utilize these capital sources for the national green transformation, it is necessary to focus on clarifying the role of the capital market and the stock market in mobilizing medium and long-term resources for sustainable development. At the same time, it is necessary to research solutions for developing a green capital market, encouraging the issuance of sustainable financial instruments such as green bonds, sustainable bonds, and shares of companies practicing ESG; and simultaneously enhance the capacity of businesses and investors in accessing, using, and effectively monitoring these capital flows and financial products.

Efforts to mobilize diverse sources of funding for green development.

At the seminar, Pham Van Hoanh, Editor-in-Chief of the Finance - Investment Newspaper, emphasized the Prime Minister 's Decision No. 21/2025/QD-TTg dated July 4, 2025, establishing criteria and procedures for certifying "green" investment projects. This document has created a basis for eligible projects to receive preferential credit and state support, contributing to guiding the flow of green investment capital in Vietnam.

"With this Decision of the Prime Minister, Vietnam has for the first time issued a national green list - an important step towards establishing an official set of environmental criteria, promoting sustainable development projects and expanding the space for the green finance market in Vietnam," emphasized the Editor-in-Chief of the Finance and Investment Newspaper.

Conference scene

Besides institutional reforms, Vietnam is currently striving to mobilize resources for sustainable development, the Editor-in-Chief of the Finance and Investment Newspaper stated. At the 2022 ASEAN-EU summit commemorating the 45th anniversary of relations, a group of international partners including many developed countries committed to mobilizing US$15.5 billion from public and private sources over 3 to 5 years to support Vietnam in achieving net-zero emissions by 2050.

International financial institutions, including the World Bank (WB) and the Asian Development Bank (ADB), have provided approximately US$3.8 billion in funding for renewable energy and green infrastructure projects during the period 2020-2024.

By the end of 2024, Vietnam had attracted nearly $32 billion in foreign investment related to renewable energy, circular economy, and emission reduction technologies. Many large wind and solar power projects from Danish, Singaporean, Thai, and Japanese investors continued to expand during the 2023-2025 period…

Sharing the same view as Deputy Governor Nguyen Ngoc Canh, Mr. Pham Van Hoanh also pointed out the reality: "Although there have been significant advances in mobilizing capital for sustainable development, the reality of the past five years shows that the mobilized capital is still modest compared to the needs. Some studies indicate that Vietnam needs about 20 billion USD per year for green transformation. This is a very large figure compared to the size of the economy, requiring a stronger diversification of capital mobilization sources, the addition of more appropriate financial instruments to attract domestic and international capital flows, and the creation of a sustainable foundation for the green transformation process."

For businesses, experts at the workshop also agreed that a change in management mindset is needed, emphasizing transparency and long-term commitment as assets to access cheap and sustainable capital. Simultaneously, it's necessary to incorporate international standards into reporting to increase credibility with financial institutions and invest in digital infrastructure to measure emissions…

Source: https://thoibaonganhang.vn/van-dong-moi-nguon-luc-cho-muc-tieu-tang-truong-xanh-175155.html