Standard Chartered Vietnam and British Chamber of Commerce in Viet Nam (Britcham) hosted a webinar on Wednesday entitled: “Achieving net-zero, carbon markets and their role in reducing greenhouse gas emissions, perspectives from Viet Nam and Asia”. In attendance were over 300 senior leaders from businesses and organisations in Viet Nam.

Gareth Ward, British Ambassador to Viet Nam gave the opening address, in which he shared his insights on COP26 initiatives and the role businesses play in supporting climate change and sustainability.

“COP26 will bring together heads of state, climate experts, businesses and campaigners to agree on coordinated action to tackle climate change. The next steps to delivering net-zero global emissions by 2050 are expected to be agreed at the COP26,” he said.

“The good news is many businesses are leading the way, making strong commitments and rapid progress towards a net-zero carbon future. More and more businesses and governments are making net-zero announcements, more and more global initiatives bringing together the world’s most influential businesses driving the transition to 100 per cent renewable energy such as RE100, EV100, Climate Action 100+, TCFD…However, we’ll need to accelerate the scale of these rapidly if we’re to achieve net-zero emissions worldwide by 2050,” he added.

Tang The Cuong, Director General of Climate Change Department under the Ministry of Natural Resources and Environment, delivered a keynote speech on Viet Nam's direction and strategy regarding climate change. He also addressed the collective efforts of the Vietnamese Government in reducing greenhouse gas emissions and the development of Viet Nam's carbon exchange.

Michele Wee, CEO of Standard Chartered Vietnam, said: “Climate change is of no doubt one of the greatest challenges facing the world today, given its widespread and proven impacts on the physical environment, human health and its potential to adversely impact economic growth.

"It is important that the transition to net-zero carbon economies is accelerated. As an international bank with unrivalled global expertise and local knowledge, we are committed to playing our part in contributing to, facilitating and leading the change in Viet Nam,” he said.

“At Standard Chartered, we have made our own commitments towards UN SDGs to achieve net-zero by 2030 as an organization and for our balance sheet by 2050. We have heard from our investors and clients to accelerate our efforts without slowing development. We will need to support and mobilise finance to facilitate decarbonising our clients and their supply chain. Standard Chartered is fully committed to this global agenda.”

Denzel Eades, Board Member, the British Chamber of Commerce Viet Nam, said: “The sustainability agenda involves countries, markets, corporates and individuals working together to achieve a common goal of emissions reduction. Today’s webinar reflected this effort and BritCham looks forward to progressing the sustainability agenda in Vietnam with Standard Chartered.”

As part of their recently announced partnership on promoting sustainable development in Viet Nam, this webinar is the first in a series organised by Standard Chartered and Britcham between now and the end of the year. The webinars will focus on topical matters and involve key stakeholders from the government, regulators and industry, helping businesses and organisations devise effective strategies for sustainable development. — VNS