GEF helps promote low-carbon circular economy in Viet Nam
VGP - A project to accelerate low-carbon circular economy through cleantech innovation towards sustainable development has been launched in Viet Nam.
The project was jointly developed by the Institute of Strategy and Policy on Natural Resources and Environment, under the Ministry of Natural Resources and Environment and the United Nations Industrial Development Organization (UNIDO).
It has an investment capital of over US$11 million, financed by the Global Environment Facility (GEF), the Government and partners.
The project targets to promote the application of clean technology innovation solutions for a low-carbon and circular economy; heading to realize sustainable and inclusive development in priority sectors in Viet Nam, and integrate renewable energy, energy efficiency and waste management.
The Party and State of Viet Nam have affirmed their viewpoint on developing a circular economy in various documents so as to achieve sustainable development.
On February 11, 2020, the Politburo issued a resolution on orientations for the national energy development strategy by 2030, with a vision to 2045, which affirms the priority for renewable energy and waste-to-energy plants to protect the environment and develop the circular economy.
The 2020 Law on Environmental Protection officially includes regulations on this economic model.
The plan on developing the circular economy in Viet Nam, approved by the Prime Minister on June 7, 2022, identifies the circular economy development as inevitable matching the global trend and the requirement for making breakthroughs in economic recovery and realization of the Sustainable Development Goals./.
