Jun 19, 2019 / 11:46

Vietnamese businesses should turn climate change risks into opportunities

The Hanoitimes - The business community plays an important role in climate change response.

Many Vietnamese enterprises have paid little attention to climate change and environmental protection; nowadays, they should turn climate change risks into opportunities, Editor-in-Chief of Kinh te & Du bao Magazine Le Xuan Dinh said at a workshop in Hanoi on June 18.

Dinh noted that Vietnam is considered one of the most vulnerable countries to climate change, which poses risks to the goals of poverty reduction and sustainable development by 2030.
Editor-in-Chief of Kinh te & Du bao Magazine Le Xuan Dinh makes speech at the event. Photo: And Kiet
Editor-in-Chief of Kinh te & Du bao Magazine Le Xuan Dinh speaks at the event. Photo: Anh Kiet
Climate change is one of the biggest challenges mankind faces in the 21st century and causes serious impacts on production, life and environment all over the world, Dinh stressed.

He said Vietnam is negatively affected by climate change due to its long coastline and numerous low-lying areas, adding that in the past 50 years, the average temperature has increased by about 0.5-0.7 degrees Celsius, sea level has risen by 20cm and climate change has caused floods, droughts with increasingly serious consequences.

Dinh added that the business community plays an important role in climate change response. Enterprises should not only focus on tackling the climate change impacts, but directly transform this challenge into opportunities.

However, enterprises' awareness of climate change is still limited, negatively affecting green growth goals. Therefore, it is important to raise awareness among the business community and encourage them to join hands with the Vietnamese government in the fight against climate change, Dinh noted.

Dr. Nguyen Huu Ninh, CEO of the Center for Research, Environment Education and Development (CERED) said many businesses have to foresee the risks climate change poses on their activities, adding that enterprises can face litigation due to the damage even if they do not cause them.

Pham Hoang Hai, head of Development and Partnership Department under the Vietnam Chamber of Commerce and Industry (VCCI) pointed that neither Vietnamese enterprises’ actions nor the government’s support are enough for enterprises to protect environment. 

“The Vietnamese government needs to check enterprises’ compliance with environmental law, support enterprises to access preferential financial resources to invest in switching to environmentally-friendly production technology and support businesses to improve the policy framework to implement new economic models,” Hai told Hanoitimes.

Representatives from Vietnam National Economics University also stressed that climate change is the driving force for development. The business community should discuss with scientists and experts to build an enterprise model adapted to climate change. In particular, international experience would be helpful for enterprises to apply climate change adaptation business models.