A survey on 2,734 businesses in Vietnam, conducted by the Private Sector Development Research Board (Board IV), revealed that 64% are unprepared for the green transition, local media reported.
At COP26, Vietnam committed to achieving net-zero emissions by 2050, reducing methane emissions by 30% by 2030, and transitioning from coal power. Despite these ambitious targets, the survey found that over half of the businesses view the green transition as unnecessary.
The survey indicated that only 48.7% of businesses acknowledged the necessity of reducing emissions, with a mere 5.5% implementing emission reduction activities. This lack of preparedness is concerning, especially with the EU’s Carbon Border Adjustment Mechanism now in effect.
Agro-forestry-fisheries and industrial sectors showed higher recognition of the need for a green transition compared to construction and service sectors. Foreign direct investment (FDI) enterprises rated the necessity slightly higher than domestic businesses, and larger revenue businesses also showed better preparedness.
The report also noted that some businesses required to conduct greenhouse gas inventories were unaware of their obligations, emphasizing the need for regulatory guidance and support in measuring and reporting emissions.
(VnEconomy [1])