Following Prime Minister Pham Minh Chinh's pledge at COP26 to achieve net-zero emissions by 2050, Vietnam's commercial and industrial (C&I) sector has a critical role to play. Accounting for 60% of the nation's electricity consumption, this sector must swiftly transition from fossil fuels toward cleaner energy sources to align with the Prime Minister's ambitious goal 1,2.

However, translating ambition into action requires practical tools for setting goals and tracking progress with transparency and accountability. The government's recent call for greenhouse gas (GHG) inventory submissions, outlined in Circular 17/2022/BTNMT, underscores this commitment and establishes a clear framework for measuring and reporting emissions (Decree 06/2022/ND-CP).

While a small number of Vietnamese companies have already taken the lead in setting Science-Based Targets, a significantly larger portion of the market needs guidance and support. This is where the Science-Based Targets initiatives (SBTi) and the Greenhouse Gas Protocol (GHG Protocol) play a crucial role, guiding companies with standardized measurements and tools to align with the government’s goals and requirements. Our proposed event series aims to provide an introduction for companies interested in using these tools to set and achieve ambitious yet realistic decarbonization targets and support the C&I energy buyer in doing their own GHG Inventory. 

This event series will be conducted in two parts: in collaboration with GHG Protocol, known for its GHG accounting standard, which provide participants with the knowledge and tools to effectively implement the GHG Protocol for emissions management in their businesses. The second event will be conducted in conjunction with SBTi, who will provide training for industries in Vietnam in setting science-based targets and insights from local practitioners who have set advanced goals.

These two events will serve as a foundation for upcoming corporate decarbonization consultation meetings within WRI’s new initiative, the Corporate and Industrial Transition Accelerator (CITA).

 

Part 1

June 26, 2024

 

Part 2

July 18, 2024

Thursday, July 18, 2024. Hanoi time: 2 PM - 3:30 PM ICT (Beijing/Manila Time: 3 PM - 4:30 PM)

The goal of industrial decarbonization has taken center stage in Vietnam, propelled by the Prime Minister's commitment at COP 26 to achieve net-zero emissions by 2050, which calls, among others, for a targeted effort to reduce greenhouse gases (GHGs) in the industrial sector. Following the World Resources Institute’s (WRI) successful webinar on GHG Emission Inventory Updates and Protocol for the Vietnam Market in June, the focus shall now shift to a critical next phase: setting of targets, or target-setting, and in this case using the Science-Based Targets (“SBTs”) framework.

In the previous event, we discussed developing a comprehensive GHG emission inventory as a foundational step in the process of decarbonizing corporate and industrial emissions. This step entails undertaking a detailed account of a company’s emissions, laying the groundwork for setting meaningful and achievable targets. Having learned that decarbonization is a staged process, we understand that the emission inventory is then followed by the setting of targets and the development of an emission reduction plan.

With this foundation in place, setting SBTs becomes pivotal as it enables companies to formulate concrete emission reduction plans that are scientifically validated, which, in the case in Vietnam, are mandatory as per Decree 06/2022/ND-CP. SBTs, which is governed by the Science-based Targets initiative (“SBTi”) for which WRI co-leads the Secretariat, offers a robust framework for companies to align their emission reduction goals with climate science. This envisaged webinar will feature introductory concepts and company case studies alike to Vietnamese companies, including lessons learned from companies that have successfully validated their targets. An expert from WRI’s China office will also share lessons from “Scope 3” emissions reductions amongst fashion brands in that market. Scope 3 emissions are particularly relevant to Vietnam, given that these correspond to supply chain emissions.

This webinar series and future activities in Vietnam will be part of WRI’s new initiative, the Corporate and Industrial Transition Accelerator (CITA), which succeeds WRI’s previous platform on corporate clean energy procurement mainstreaming.

Speakers:

  • Hao Nguyen, Clean Energy Project Associate, MJ Apanada Management Consultancy OPC, on behalf of WRI
  • Weimin Tang, Senior Project Manager, WWF
  • Mofan Zhang, Research Analyst, WRI China
  • Moderator: Marlon Joseph Apanada, Southeast Asia Lead, WRI