UNDP concludes pilot carbon credit projects in transportation sector

UNDP concludes a pilot carbon credit initiative in the transportation sector. Photo: Oanh Nguyen

The workshop provided a platform for stakeholders to share lessons, discuss challenges, and explore practical solutions for developing sustainable transportation in Vietnam. The event brought together representatives of government agencies, organisations, and enterprises involved in the carbon credit market in the transportation sector.

Within the project, UNDP collaborated with electric motorcycle manufacturer Selex Motor to pilot a carbon credit project for electric motorcycles in Vietnam and complete the international verification process. This pioneering effort explored the feasibility of using carbon credits to support the transition to low-carbon transportation in Vietnam. The pilot project aims to contribute to reducing greenhouse gas emissions in the transportation sector, which is projected to experience a significant increase in emissions without the implementation of appropriate mitigation measures.

Vu Thai Truong, acting head of the Climate Change and Environment Unit at UNDP Vietnam, shared, "The pilot carbon credit project for electric motorcycles is an initial effort to assess the feasibility of low-carbon solutions in Vietnam's transportation sector. This project provides realistic testing and generates valuable lessons for developing similar initiatives in the future."

At the workshop, UNDP and partners presented the project's outstanding achievements, including supporting the establishment of a project development framework for carbon credit for electric vehicles, promoting the development of low-carbon transportation through climate finance, strengthening capacities, and raising awareness among the community. Over 200 people participated in training programmes and workshops on the carbon market and low-carbon transport solutions.

These results have laid the groundwork for further future research and expansion of low-carbon transport solutions. UNDP is committed to partnering with Vietnam to achieve its national climate goals, particularly the net-zero emissions target by 2050.

Credit continues to flow into real estate sector Despite headwinds, banks’ outstanding balances in the real estate sector maintained an upward trend in the first half of this year.

AkzoNobel Wood Finishes at forefront of quality and sustainability in furniture industry AkzoNobel’s Wood Finishes Division is at the forefront of transforming Vietnam’s wood and furniture industry towards sustainability with its high-quality products and innovative solutions.

PetroVietnam proposed to pilot OSW projects Deputy Prime Minister Bui Thanh Son has tasked the Ministry of Industry and Trade (MoIT) with reporting on the necessary procedures for assigning Vietnam Oil and Gas Group (PetroVietnam) to conduct surveys for offshore wind power projects.

VPBank and JBIC sign $150-million credit line to finance green projects VPBank and the Japan Bank for International Cooperation (JBIC) signed a general agreement for a credit line totalling $150 million on October 9.

Year-end credit growth driven by industrial sector The stock, banking, and investment markets are awaiting the release of third-quarter financial reports, with corporate lending banks expected to show strong growth in Q4, while consumer lending banks may continue to face hurdles.