SHIFT - Shifting Investment Flows Towards Green Transformation
SHIFT is a joint program of six organizations that aims to accelerate the deployment of green and climate friendly technologies and practices to support Viet Nam achieve net zero emissions by 2050. To this end, the program will enhance know-how and capacities of relevant public and private stakeholders in the areas of green finance and energy transition. The outcome of the program is to improve green policy and finance frameworks for enhanced climate action in Viet Nam, especially in the energy sector. It addresses both supply and demand aspects of green investment, creating a positive feedback loop that will drive the transition towards a green and climate friendly economy. Five outputs will support the green finance framework, improve policies for the energy transition, supply green financial products through financial institutions, trigger demand by the private sector, particularly SMEs, and disseminate knowledge and raise awareness of a broader set of stakeholders.
- Countries
- Viet Nam
- IKI funding
- 15,000,000.00 €
- Duration
- 10/2022 till 07/2028
- Status
- open
- Implementing organisation
- Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH
- Political Partner
-
- Ministry of Planning and Investment - Viet Nam
- Implementing Partner
-
- Agora Energiewende Smart Energy for Europe Platform gGmbH*
- International Finance Cooperation (IFC)
- SNV Netherlands Development Organisation - Viet Nam
- United Nations Development Programme (UNDP)
State of implementation/results
- In May 2024, the project started in association with the State Bank of Viet Nam (SBV) to analyze the current state of green lending and SBV’s green growth action plan implementation in the banking industry. The project put special emphasis on the energy sector. The results will provide a solid basis for the project to advise regulators on the promotion of green finance as well as renewable energy and transition technology.
- In the wake of decree No. 06/2022/ND-CP revision, SHIFT organized two technical roundtables on emission trading system (ETS) regulation and market operations, between Vietnamese financial policymakers and the European Directorate General for Climate Action (DG-CLIMA) as well as the European Energy Exchange (EEX), in April and July 2024 respectively.
- Hence, the project is building its international ETS network and enhances overall understanding of the specific demand from financial regulators. This will help in the preparation of capacity building measures as well as the establishment of coordination mechanisms.
- SHIFT also developed its Green Innovation Climate Fund (GICF) for small and medium sized enterprises (SME). To operationalize the GICF, the project prepared information on objectives, timelines and application procedures. Selection criteria have also been developed and approved. They will be used for all Calls for Proposals. The GICF website is to be finished soon so that documents, links and events can be published online.
- Once launched and operational, the GICF will contribute to leverage direct private sector investment into cleaner production and green energy. It will increase capacities and is expected to stimulate replication and scale of viable technologies among SMEs.
- Over the last six months, SHIFT identified potential areas for synergies and collaboration across sectors, i.e. green, energy and business. One outcome, for instance, is joint technical assistance for the project’s energy efficiency clubs, combining energy audits with greenhouse gas (GHG) inventories, to offer enterprise more comprehensive support in realizing their energy efficiency gains.
Latest Update:
01/2025
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