Da Nang promotes trilateral cooperation in green finance

During the meeting, the parties focused on key areas of cooperation, including strengthening the capacity of the business ecosystem, providing green financing, and guiding and promoting sustainable investment.

Under the proposed cooperation, the parties will work together to design and organize thematic forums and specialized training sessions to equip businesses with knowledge of climate risk management, the application of circular economy models, and the effective implementation of Environmental, Social and Governance (ESG) standards.

Also, the parties also agreed to establish mechanisms to support and advise businesses on developing standards-compliant projects to improve their access to green financing.

They will encourage capital flows into renewable energy, clean technology and ecological infrastructure projects, thereby contributing to Vietnam’s overall Net Zero goal.

The initiative marks a new approach to people-to-people diplomacy.

Acting as a main bridge, the Da Nang Union of Friendship Organizations in collaboration with Nam A Bank and WUSC aims to establish a flexible tripartite cooperation model involving a people-to-people diplomacy body, a financial institution and a foreign non-governmental organization.

Within this ecosystem, international funding will serve as catalytic seed capital, driving the local business community’s green transition.

This partnership opens up prospects for substantive cooperation agreements that will help businesses accelerate their development and contribute to Da Nang’s goal of becoming an ecological and smart city.