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RESEARCH ON FACTORS AFFECTING THE ACCEPTANCE AND

IMPLEMENTATION OF GREEN FINANCE IN REAL ESTATE
ENTERPRISES IN VIETNAM

To Minh Huong
168

Abstract: The adoption and implementation of green finance in the real estate sector are critical
for promoting sustainable development in Vietnam. This study aims to identify and analyze the factors
influencing the acceptance and deployment of green finance among real estate enterprises. By
employing a mixed-method approach, including surveys and in-depth interviews, this research examines
the impact of government support policies, green technology, financial resources, and corporate
awareness on the adoption of green finance. The findings reveal that government policies and financial
resources are the most significant determinants, followed by the level of green technology integration
and the awareness of green finance benefits among enterprises. The study concludes with
recommendations for enhancing the effectiveness of green finance initiatives in the real estate sector,
including strengthening policy frameworks, improving access to financial resources, promoting green
technologies, and raising corporate awareness.
Keywords: Green Finance, Government Support Policies, Green Technology

1. Introduction
In recent years, the importance of sustainable development has become
increasingly recognized worldwide, prompting many industries to adopt greener

practices. The real estate sector, known for its significant environmental impact, is no
exception. Green finance, which refers to financial investments flowing into sustainable
development projects and initiatives, has emerged as a crucial instrument to foster
environmental sustainability. However, the adoption and implementation of green
finance in the real estate industry in Vietnam remains limited.
Vietnam, as a rapidly developing country, faces unique challenges and
opportunities in integrating sustainable practices within its burgeoning real estate sector.
Despite the global emphasis on sustainability, many Vietnamese real estate enterprises

have been slow to adopt green finance due to various barriers. These barriers include
inadequate government support, limited access to financial resources, a lack of
advanced green technologies, and insufficient awareness about the benefits and practices
of green finance.
This research aims to explore the factors influencing the acceptance and

implementation of green finance among real estate enterprises in Vietnam. By
understanding these factors, we can identify the barriers and drivers that shape the green
finance landscape and propose strategies to enhance its adoption, contributing to the
overall sustainable development goals of the country. This study specifically examines
the roles of government support policies, green technology, financial resources, and
corporate awareness in influencing green finance adoption in the Vietnamese real estate
sector.

168 Faculty of Economics and Management, ThuyLoi University, Email: huongtm@tlu.edu.vn
357