HCM CITY — The need for a unified, transparent, and internationally compatible green finance taxonomy has become more urgent than ever as Việt Nam pursues its commitment to achieving net-zero emissions by 2050, positioning green capital flows as a key driver of sustainable economic growth, according to a seminar in HCM City on Friday.

Entitled “Developing and Implementing Green Finance Taxonomy: International Experiences and Applications in Việt Nam”, the seminar, which was jointly organised by the Vietnam Chamber of Commerce and Industry HCM City (VCCI-HCM) and Singapore Management University (SMU), brought together 80 companies, regulators, financial institutions, businesses, and international experts. 

Providing the latest insights and knowledge on green finance taxonomy, the seminar acted as a crucial platform to bridge international practices with Việt Nam’s local context, aiming to support the establishment of a national green taxonomy aligned with global standards. 

“In the context of green transformation, emission reduction, and restructuring of growth models, the development of the green taxonomy system is not just a technical requirement but a fundamental framework,” highlighted Nguyễn Đoàn Thông, head of membership department - training and communications cum head of CEO programme VCCI-HCM.

The green finance taxonomy system is envisioned to help Việt Nam attract green and sustainable capital inflows, set common standards for businesses, financial institutions, and regulatory bodies, enhance transparency in supply chains and value chains, and reduce compliance risks when aligning with international standards, Thông said.

Việt Nam has taken a significant step forward with the issuance of Decision 21/2025/QĐ-TTg, establishing the national green taxonomy and outlining a framework for verification, environmental criteria, and the eligibility for green credit and bonds.

Moreover, the implementation raises essential questions concerning data availability, verification capacity, institutional readiness, and alignment with international systems – integrating strategy, finance, policy, and practice.

During the seminar, experts presented research on global trends in green taxonomies.

Professor Theodor Cojoianu, associate professor of Sustainable Finance at SMU and a key figure in sustainable finance, highlighted that globally, over 50 taxonomy systems have been developed or are in progress.

“This represents extraordinary momentum. But it also brings significant complexity. Financial flows increasingly operate across borders. Investors need clarity. Regulators require coherence. And businesses need predictable frameworks to plan, report, and invest. Việt Nam’s new taxonomy is therefore entering a global conversation – and helping shape it,” he said.

Dr. Scott Fritzen – scholar of public policy and leadership, Vice President (Impact & Value), and Professor of Practice at Singapore Management University – underscored the importance of regional collaboration and the strategic role of green taxonomies in sustainable development.

“A well-designed national green taxonomy not only enhances financial market transparency but also creates a shared language that enables more effective collaboration among countries, financial institutions, and businesses. At the regional level, alignment and interoperability among taxonomies will be key to mobilising sustainable capital flows, especially as economies confront common climate challenges,” he shared.

The involvement of universities, research institutes, and international organisations is anticipated to lay a robust knowledge foundation to assist Việt Nam in developing a practical, context-appropriate green taxonomy aligned with global standards. — VNS