UK begins second phase of climate finance accelerator in Vietnam

CFA is a 11.8-million-GBP technical assistance programme funded by the International Climate Finance (Photo: dangcongsan.vn)

Hanoi - The UK Embassy in Vietnam has announced a new wave of capacity-building support for low carbon projects that can benefit communities across the Southeast Asian nation.

Launched in the country in 2022, the climate finance accelerator (CFA) is a technical assistance programme funded by the UK government that responds directly to the urgency and scale of the climate crisis.

It brings together project developers and financial experts who can build and finance climate projects at scale, offering technical assistance and support with financial models and pitch materials, as well as advice about enhancing gender equality and social inclusion (GESI).

British Ambassador to Vietnam Iain Frew emphasised the launch of the next phase of CFA Vietnam as a testament to the success and impact of the first phase.

The UK is committed to supporting Vietnam in its transition to a net zero, climate-resilient and nature-positive future. The UK's own low carbon transition has involved the active participation of the private sector and green finance, noted the diplomat.

The CFA is a 11.8-million-GBP (14.8 million USD) technical assistance programme funded by the International Climate Finance (ICF), through the UK Government's Department for Energy Security and Net Zero (DESNZ).

It is currently carried out in nine countries, namely Colombia, Egypt, Mexico, Nigeria, Pakistan, Peru, South Africa, Türkiye, and Vietnam, and is working to develop a sustainable pipeline of bankable, low carbon projects in each country.

The first one of CFA Vietnam included nine innovative low carbon projects seeking a total of over 500 million GBP investment from sectors including renewable energy, resource/energy efficiency, e-mobility, circular economy and waste management.

Second Forecast Dinner hosted by the CFA community in Vietnam Following the success of last year’s event, the community of the CFA Institute members in Vietnam yesterday organised its 2nd Annual Forecast Dinner in Ho Chi Minh City, joined by leading experts from Vietnam and Asia-Pacific region.

CFA charterholders celebrate 11th award ceremony On December 14, 2019, CFA Community Vietnam, a community of the members of the CFA Institute and the candidates of the CFA Programme, celebrated the 11th CFA Charter Award Ceremony in Ho Chi Minh City for new members.