Want to be in the loop?
subscribe to
our notification
Business News
SCIENCE MINISTRY ISSUES ISO STANDARDS TO REALISE VN’S NET ZERO COMMITMENTS
The Directorate for Standards, Metrology and Quality under the Ministry of Science and Technology has issued International Standardisation Organisation (ISO) standards named TCVN ISO 14090:2020 that contain principles, requirements and guidelines to instruct organisations and sectors to adapt to climate change.
The standards can be applied to every organisation of all sizes, local, regional, international, and at all types of business, corporation, sector, and natural resource manager.
The standards can assist in the development of climate change adaptation standards for specific sectors or factors.
The standards were issued after Việt Nam made a commitment to net zero emissions by 2050. The introduction of the standards on climate change adaptation is considered one of the practical actions to achieve the commitment.
At the 27th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP27), held in Sharm El-Sheikh, Egypt, on 11 November 2022, the International Organisation for Standardisation announced a new global guide that includes guiding principles for achieving net-zero.
Under the guidelines, reducing emissions at the source is believed to be the most effective way to achieve net-zero.
To do that, countries are advised to improve energy efficiency, switch to renewable energy sources and innovate processes to reduce waste.
For emissions that cannot be eliminated, carbon offsetting is a possible solution. They involve investing in projects that remove or reduce greenhouse gases in the atmosphere.
The guidelines say that the involvement of stakeholders - employees, customers, investors and the community is key to the successful implementation of a net-zero strategy.
Right after the guide was issued, the directorate disseminated it to organisations and businesses to help them identify and manage risks, as well as seize all opportunities that climate change can bring.
Following a United Nations report, Việt Nam ranks 6th among the countries suffering the most from extreme weather. Over the past 20 years, Việt Nam has suffered hundreds of natural disasters causing loss of human life and materials.
Việt Nam's proactive commitment of net zero to the world not only helps reduce the risk of catastrophic climate change, extreme weather phenomena, and sea level rise, loss of biodiversity; disruption of food and water supplies, but also protects human health, promotes innovation and economic growth; enhances energy security; and conserves ecosystems and biodiversity.
Source: VNS
Related News
VIETNAM INTENSIFIES E-COMMERCE TAX SCRUTINY
The department plans to offer guidance for and hold direct dialogues with e-commerce taxpayers to ensure compliance. Efforts will also include updating the e-commerce database, conducting risk analysis, and leveraging artificial intelligence (AI) to manage data and issue alerts.
FOOTWEAR EXPORTS SEEN REACHING US$27 BILLION THIS YEAR
This optimistic forecast reflects the industry’s efforts to expand and diversify its markets. Lefaso indicated that Vietnam’s footwear sector will concentrate on traditional markets like the U.S. and the European Union, alongside markets with free trade agreements to maximize opportunities.
2025 PIVOTAL FOR STOCK MARKET UPGRADE EFFORT
The Ministry of Finance (MoF) is expected to soon publish the entire content of the draft circular amending and supplementing four circulars on transactions, registration, depository, and clearing, as well as operations of securities companies and information disclosure. This move, along with feedback and explanations, aims to meet the criteria for upgrading Vietnam’s stock market.
CAPITAL FLOWS STRONGLY INTO INDUSTRIAL REAL ESTATE
Industrial real estate has had easier access to bank credit since July, when the State Bank of Vietnam (SBV) reduced the credit risk coefficient for industrial real estate from 200 per cent to 160 per cent, encouraging commercial banks to lend to more projects in the segment.
GDP GROWTH REACHES 6.42 PC IN FIRST HALF
Vietnam's economy grew by 6.42 pc in the first six months of 2024, slightly lower than the figure of 6.58 pc in the same time of 2022 within the 2020-2024 period.
FDI INFLOW INTO VIETNAM REACHES NEARLY 15.2 BILLION USD
Vietnam attracted nearly 15.2 billion USD in foreign direct investment (FDI) in the first six months of this year, a year-on-year increase of 13.1 per cent, according to the General Statistics Office.