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COVER STORY

PHOTO: CHU XUAN KHOA

ROUND & ROUND

The circular economy model is considered key in Vietnam
achieving its commitment to green and sustainable development.

TRA MY Reports

n his address to the Vietnam Circular goal of cutting greenhouse gas emissions the socio-economic development plan for
Economy Forum 2022, held on June by at least 15 per cent by 2030 compared 2021 to 2025, mark a major milestone in
I 28 by the Ministry of Natural Resources to 2014, towards the goal of net-zero emis- Vietnam’s sustainable energy transition,
and Environment and with media support sions by 2050. with the circular economy at its center,”
from Vietnam Economic Times and vnecon- said Ms. Caitlin Wiesen, UNDP Resident
omy.vn, Minister Tran Hong Ha said “the KEY SOLUTION Representative for Vietnam.
circular economy is the way for us to con- Policymakers, business leaders, and The “Climate Change 2022: Impacts,
tinue firmly on the path towards sustainable organizations discussed the role of the cir- Adaptation and Vulnerability” report from
development.” cular economy within Vietnam’s goal of the Intergovernmental Panel on Climate
The circular economy has been defined green growth and sustainable development. Change (IPCC) predicts that the world
as a key factor in promoting green growth “The net-zero commitment made at faces unavoidable multiple climate hazards
and sustainable development in Vietnam. COP26 in Glasgow and the ongoing revision over the next two decades, with global
Deputy Prime Minister Le Minh Khai of the draft National Climate Change Strat- warming of 1.5 C. The IPCC stated that
o
signed Decision No. 687/QD-TTg dated egy and the draft Power Development Plan even temporarily exceeding this level would
June 7, 2022, approving a scheme for the 8, to align them with the net-zero emissions result in additional severe impacts on
development of the circular economy in goal by 2050, when taken together with the humankind and the environment, some
the country, which targets cementing the integration of the circular economy into of which will be irreversible. In May, the

14 | VIETNAM ECONOMIC TIMES | JULY 2022 www.en.vneconomy.vn