VIETNAM, Aug. 22 – VĨNH LONG — Amid the adverse effects of climate change, green finance is playing a very important role in the sustainable development of the Cửu Long (Mekong) River Delta, a lecture heard in Vĩnh Long last week.
The delta is one of the regions of the world most vulnerable to climate change, with communities and the environment there struggling with rising sea levels and resulting salinity intrusion.
Green finance could help prevent the impacts of climate change by financing energy efficiency and renewable energy projects, while green banking could help raise awareness of climate change and sustainability, and encourage people to adopt greener practices, experts said.
Speaking at the seminar titled “Green Credit in the Mekong Delta – Opportunities, Challenges and Development Trends”, Nguyễn Quốc Bình of Vĩnh Long Province Campus of HCM City University of Economics said that economic activities in the delta were still largely dependent on the exploitation of natural resources. and cheap labor.
Many provinces still prioritize short-term economic development over long-term sustainable goals associated with social security and environmental protection.
“Green credit [persuade] companies to turn to environmentally friendly businesses and actively support the community.
Dr. Nguyễn Hữu Huân, also from HCM City University of Economics, said, “There is a close relationship between green banking and climate change in the Mekong Delta. Therefore, the green bank can help mitigate the impacts of climate change in the Mekong Delta.
Thus, green banking, if implemented well, would help stop large polluting projects from the start and be an effective solution to transform the national economy towards green growth, he said.
Lý Nhật Trường, director of the Vĩnh Long office of the State Bank of Vietnam, said banks in the province had financed green projects in high technology and clean agriculture and renewable energy and had increased lending. green consumption.
As of June 30, the total outstanding amount of green loans in the province stood at 700 billion VND (29.9 million U.S. dollars), mainly focused on two areas, clean agriculture and renewable energy, it said. he adds. —VNS