Page 81 - Ebook HTKH 2024

taking advantage of opportunities that bring simultaneous economic and environmental
benefits as well as increased accountability.

The green financial system includes activities related to mobilizing green financial
resources for use in green investment activities through green financial market channels
and green financial intermediaries. From the perspective of researchers, businesses,
national or international, green finance is understood as the diversification of financial
products and services provided by financial institutions towards sustainable
development of the country, to overcome and limit the negative impacts of economic
development on the environment and improve the environment.
In Decision No. 622/QD-TTg dated May 10, 2017 of the Prime Minister

promulgating the National Action Plan to implement the 2030 Agenda for sustainable
development.
Sustainable development is a requirement throughout the country's development
process; Closely, reasonably and harmoniously combine economic development with
social development and protection of natural resources and environment, proactively
respond to climate change, ensure national defense, security, social order and safety and

firmly protect national independence and sovereignty. In this Plan, the Government sets
out 17 sustainable development goals for Vietnam by 2030, including 03 goals directly
related to protecting natural resources and environment, proactively responding to
climate change, including: (1) Respond promptly and effectively to climate change and
natural disasters; (2) Conservation and sustainable use of oceans, seas and marine
resources for sustainable development; (3) Protect and develop sustainable forests,
conserve biodiversity, develop ecosystem services, combat desertification, prevent

degradation and restore land resources. In the international arena, at the 26th Conference
of the Parties to the United Nations Framework Convention on Climate Change
(COP26), Vietnam is one of the countries that has made strong commitments to bring
net emissions to "zero" by 2050; Do not build new coal power from 2030 and gradually
eliminate coal power from 2040; declaration on forests and land use; join the Global
Adaptation Alliance; reduce methane emissions by 30% by 2030 compared to 2020.

From the concept of green finance along with the green economic growth strategy,
from the perspective of the Vietnamese Government towards effective use of natural
resources, improving the competitiveness of the economy, through enhancing
technological innovation and economic tools, contributing to responding to climate
change, reducing poverty and sustainable development, at the same time, with Vietnam's
commitments to bring net emissions to "zero" by 2050, we can see the importance and
role of finance in implementing the green growth strategy and the above commitments.
Because of the transition to a green economy, countries need to invest cautiously in

resource capital; replace fossil energy with renewable energy and low-carbon
technology; Encourage efficient use of resources and energy... and this transition
process requires countries to effectively use capital mobilized from the green financial
system, in essence, they are conventional financial institutions but consider

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