Eleven projects selected for Climate Finance Accelerator Vietnam unveiled

The projects come from the clean energy, energy transition, e-mobility, agriculture, forestry, and other land uses, circular economy, and waste management sectors and have the potential to benefit communities across the country. These projects are seeking a total of $436 million in funding.

The projects were selected in sectors where the regulatory and policy framework is already well established in Vietnam, therefore reducing the chances of project delays. Considering the climate mitigation and carbon reduction potential of the projects was also an important part of the selection process, with this being a particularly strong aspect of several of the projects.

Each project will receive tailored one-to-one and group support to increase its chances of attracting investment from Vietnamese and international backers. The technical and financial expertise shared with the projects includes advice on financial models, how to prepare pitch materials, and how to enhance the gender equality and social inclusion aspects of projects.

The CFA is part of the UK government’s efforts to help Vietnam meet the commitments made by Prime Minister Pham Minh Chinh at COP26 in Glasgow in 2021, and to offer support to implement the Vietnam Just Energy Transition Partnership that was agreed to in December 2022.

British Ambassador to Vietnam Iain Frew said, “The variety of projects selected to be part of the second phase of CFA Vietnam highlights the many exciting and innovative ways that Vietnamese businesses are delivering for the planet. I’m incredibly pleased that the projects from the first phase of the programme have seen such positive follow-up from investors, and I’m sure that these new offerings will experience the same benefits and positive outcomes from being part of the CFA initiative.”

Following the capacity building and mentoring sessions, the projects will meet with investors and financial institutions at a workshop in May. This will allow project developers to further refine their financial structuring through personalised discussions with interested financial institutions.

The event will also provide an opportunity for participants to network and for policymakers to understand the challenges faced by other stakeholders in the climate finance space.

Dinh Thi Quynh Van, chairwoman of PwC Vietnam said, "We would like to congratulate the eleven selected projects for the great work they are doing to help foster innovation and tackle the climate challenges. PwC Vietnam is honoured to continue its role as the in-country delivery partner for CFA Vietnam – an initiative that aligns with our commitment to environmental, social, and governance business practices and agenda."

"The current landscape is favourable for low-carbon projects, coinciding with Vietnam's net-zero commitments and ongoing regulatory improvements across sectors. We are excited to observe the growing interest from investors in low-carbon projects in Vietnam and look forward to seeing more successful engagements made between the projects and potential backers," she added.

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