Easier access to sustainable finance proposed for green transition

Deputy Minister of Agriculture and Environment Le Cong Thanh

Deputy Minister of Agriculture and Environment Le Cong Thanh made the remarks at Green Transition Day 2026, organised by Hanoi People's Committee on May 17. He said successful green transition requires three key pillars: green capital flows, incentive mechanisms, and clear green criteria.

According to Thanh, the Ministry of Agriculture and Environment (MAE) will continue refining environmental standards, green project criteria, and circular economy requirements, while promoting transparency in green finance, greening production and consumption, and preventing 'greenwashing' – the practice of making misleading claims about environmental benefits without meaningful action.

“This is aimed at enabling genuinely responsible and innovative businesses to gain better access to sustainable financial resources,” he said.

The deputy minister stressed that green transition should no longer be viewed as an optional pathway but as a mandatory requirement for development, enabling enterprises to integrate more deeply into global value chains and strengthen national competitiveness.

Thanh noted that policymakers have identified the need for a new growth model driven by science, technology, innovation, digital transformation, and green transition, alongside the development of the digital, green, and circular economy, as well as energy transition.

“To build a new growth model, Vietnam must accelerate green transition,” Thanh said, adding that green transition is not a fixed destination but an ongoing process of innovation and transformation. He urged industries, localities, and businesses to establish clear roadmaps and take concrete action rather than remain on the sidelines.

At the event, Nguyen Thi Lam Giang, director of the Agency for Innovation, Green Transition and Industry Promotion under Ministry of Industry and Trade said Prime Ministerial Directive No.09 issued in March introduced requirements to strengthen energy efficiency, accelerate energy transition, and promote electric mobility.

“Energy transition will help reduce dependence on fossil fuels, cut emissions, and create growth opportunities for emerging industries such as wind power, solar energy, biomass, and green hydrogen,” Giang said.

“Meanwhile, the development of green transport will accelerate the shift from fossil fuel-powered vehicles to electric mobility, opening opportunities for battery production, charging infrastructure, and green transport systems,” she added.

Vietnam is targeting double-digit economic growth in the coming years, aiming to become a high-income country by 2045 while pursuing its net-zero emissions commitment by the same year.

According to the MAE, green credit accounted for nearly 4.2 per cent of total outstanding loans in the economy last year, covering sectors such as renewable energy, agriculture, transport, and waste treatment. Green lending expanded by 9.5 per cent and 14.6 per cent in 2024 and 2025, respectively.