Enhancing the legal framework to promote green capital flows in Vietnam’s financial market
DOI:
https://doi.org/10.59394/JSM.44Keywords:
Green finance, green credit, green capital flow, green growth in Vietnam and carbon creditsAbstract
Unfolding green capital flows for the business sector has been a primary concern for both the business community and state management in the financial and banking sectors. Green capital flows are vital in funding to achieve sustainable development and green growth goals, particularly in addressing environmental and climate-related challenges. In recent years, green capital flows have been implemented through green bonds and credits, yielding promising outcomes in energy saving, renewable energy, clean agriculture, and high-tech agriculture. However, their current state reveal numerous obstacles and challenges, necessitating policy adjustments, legal amendments, and the regulatory framework's improvement to ensure the Net-Zero target's achievement by 2050.
References
Anh, T. T. (2022). Current status of green credit implementation and proposed solutions to promote green credit development in the future. Environmental Journal, (11). Retrieved September 20, 2024, from https://tapchimoitruong.vn/ chuyen-muc-3/thuc-trang-trien-khai-tin-dung- xanh-de-xuat-mot-so-giai-phap-thuc-day-phat-tri en-tin-dung-xanh-trong-thoi-gian-toi-27268.
G20 Green Finance. (2016). G20 Green Finance synthesis report. Retrieved from https://g20sfwg.org/wp-content/uploads/2021/07/ 2016_Synthesis_Report_Full_EN.pdf.
German Development Cooperation - GIZ. (2023). Context and some international experiences in the green economy and transitioning the economy towards sustainable green growth. Proceedings of the Vietnam Finance Forum 2023.
Kham, T. D., & Research Team. (2022). Development of the green capital market in Vietnam. Vietnam Financial and Economic Journal, (1). Retrieved September 20, 2024, from https://mof.gov.vn/webcenter/portal/vclvcstc/pag es_r/l/chi-tiet-tin?dDocName=MOFUCM229130.
Ministry of Planning and Investment. (2022). Report on the implementation of conclusions from the first plenary session of the National Steering Committee on Green Growth. Internal circulation document.
National Assembly. (2020). Environmental Protection Law 2014 (amended in 2020).
Ngoc, N. T. A. (2023). Green credit in Vietnam: Current situation and some recommendations. Banking Journal. Retrieved September 20, 2024, from https://tapchinganhang.gov.vn/ tin-dung-xanh-tai-
viet-nam-thuc-trang-va-mot-so-khuyen-nghi.htm.
Nhung, T, T. T. (2024). Current status of the green financial market in Vietnam. Retrieved September 20, 2024, from
https://mof.gov.vn/webcenter/portal/vclvcstc/page s_r/l/chi-tiet-tin?dDocName=MOFUCM332024.
Thang, V. N., & Binh, N. T. H. (2023). Financial policies for green growth, towards net- zero emissions in Vietnam. Proceedings of the Vietnam Finance Forum 2023.
Tu, T. T. T. (2020). Green growth system: A decisive factor for green economic development. Vietnam Science and Technology Journal. Retrieved September 20, 2024, from https://vjst.vn/vn/tin-tuc/3675/he-thong-tai- chinh-xanh--yeu-to-tien-quyet-cho-phat-trien-kin h-te-xanh.aspx.
UNEP. (2017). Frontiers 2017 Emerging Issues of Environmental Concern. United Nations Environment Programme, Nairobi.
Van, L. T. T., & Hoa, B. H. (2024). Financial resources for promoting green growth in Vietnam. Finance Journal, (1+2). Retrieved September 30, 2024, from https://tapchitaichinh.vn/nguon-luc-tai- chinh-thuc-day-tang-truong-xanh-o-viet-nam.html.
