Vietnam was one of six economies most affected by climate change between 1999-2018, according to 2019’s United Nations Framework Convention on Climate Change in Madrid. However, concerning greenhouse gas (GHG) emissions – the primary cause of climate change, Vietnam has one of the most carbon intensive economies in the world, ranking only after China and Mongolia in the East Asia and Pacific region.

To reduce greenhouse-gas emissions and mitigate climate impact, developing countries must combine effective policy reforms with innovative business models in order to mobilise trillions of dollars from private investors. The private sector, therefore, plays a crucial role in the fight against climate change, especially a major GHG emitter such as the construction industry.

There are many real estate developers with technical capability and necessary tools, possessing tremendous potential to grow if supported financially. International Finance Corporation (IFC) estimates that by 2030, investment opportunities in 21 emerging markets will exceed US$23 trillion and present a US$753 billion climate investment opportunity for Vietnam during 2016-2030. Engaging the private construction sector is, therefore, a top priority to mobilize financing, scale-up national climate plans, and support Vietnam’s Green Growth goals.