SHIFT - Shifting Investment Flows Towards Green Transformation

State of implementation/results

• The project continued its preparatory engagement, working closely with relevant stakeholders and projects to support strategic and political processes, such as the Just Energy Transition Partnership (JETP), helpful for rapid implementation of planned activities.
• As a part of Germany's commitment to the JETP with Viet Nam, SHIFT is involved in the JETP Sub-Working Group on Renewable Energy (RE) Hubs. In close collaboration with the IKI “Clean, Affordable and Secure Energy for South-East Asia (CASE)” project, the IKI “Innovation Regions for a Just Energy Transition” project and other IPG members, SHIFT also engages in the strategic political discussion on coal transition, including the JETP Sub-Working Group on Coal Fired Power Plants.
• In collaboration with the “Vietnamese - German Energy Partnership (EP)” and the project “Supporting the Implementation of Paris Agreement (SIPA II)”, SHIFT continued its support of the existing two Energy Efficiency and Climate Action Clubs (EEC) by helping members to prepare for the national carbon market through GHG inventories and reporting. In addition, SHIFT assisted with the establishment of a new, third EEC focussing on small and medium-sized enterprises (SME) as members.
• In May, SHIFT and the State Bank of Viet Nam (SBV) organized a workshop to disseminate the findings of the earlier study on the implementation of the banking sector’s Green Growth Action Plan with recommendations for energy financing in Vietnam. During the event, representatives from SBV and financial institutions reaffirmed their commitment to advancing green and sustainable finance. The absence of a national green taxonomy was highlighted as the most critical challenge.
• A delegation from MOF visited China, France and Germany in April to learn about international emission trading systems. The SHIFT project coordinated the visits with the French Development Agency (AFD) and assisted through technical briefings, high-level contacts and meetings in China and Germany. As an outcome, the MOF considers technical systems of the European Energy Exchange (EEX) for application in Viet Nam and an exchange of staff.
• Moreover, the MOF study tour provided practical technical insights for the MOF in developing the draft national carbon trading exchange regulation, including among others the role of trading participants, allowance clearance mechanisms, fee structure as well as sanction regimes.
• In the context of the launching event of the IKI project “Green Banking - Capacity Building for Green Energy and Climate Finance” in Viet Nam, SHIFT connected the Renewables Academy (RENAC) with the Banking Academy of Viet Nam (BAV) given synergies in content and training activities. As an outcome, both institutions consider formalizing the relationship and expanding the pool of local trainers for RENAC through BAV professionals.

Latest Update:
12/2025