At the workshop, Mr. Tran Tuan Linh - Member of the Board of Directors of Petrolimex, gave a speech on the topic "Energy transition: Opportunities and challenges for Vietnam". Petrolimex leaders emphasized that energy transition is an irreversible global trend, but in reality, the roadmap between expectations and implementation is not really synchronized. While many large energy corporations in the world have quickly caught up with the trend and invested heavily in renewable energy, green hydrogen products, and sustainable aviation fuel (SAF), they now have to reassess the actual situation and balance green goals with economic efficiency and the interests of businesses and shareholders.
Vietnam has demonstrated its determination to green transition through its commitment to achieve Net Zero 2050, the Power Development Plan VIII and the JETP agreement to help Vietnam mobilize 15.5 billion USD from public and private financial sources within 3-5 years on its energy transition journey. However, the existing gap is still large when more than 70% of primary energy still comes from fossil fuels, grid infrastructure is limited, and green credit accounts for less than 5% of the total outstanding debt of the whole industry.
In this context, Petrolimex is implementing many specific solutions to realize the green transition vision:
• Providing clean fuel products that meet the highest standards in Vietnam, including E10 gasoline, Ron95-V, DO 0.001SV oil, B5, and sustainable aviation fuel (SAF).
• Invest in green technology such as vapor recovery systems, floating roofs to reduce gasoline evaporation, wastewater treatment plants, and oil spill response equipment.
• Developing new energy infrastructure including electric vehicle charging stations, installing solar power at gas stations and retail stores, and researching hydrogen fueling stations.
• Conduct a Group-wide greenhouse gas inventory, publish a sustainability report according to GRI, IFRS ESG standards, and initially implement carbon credit projects.
“For Petrolimex, ESG does not stop at the numbers on the report, but is a consistent principle guiding the business’s activities. We wish to become a pioneer in Vietnam’s energy transition, both ensuring national energy security and participating more deeply in the global green energy value chain,” Mr. Linh affirmed.
With the contents shared, the “Vietnam Green Finance 2025” Workshop is not only a forum for professional exchange, but also an important step on the journey of greening the economy. When ESG becomes an inevitable requirement, raising awareness, improving the credit rating system and promoting the application of green finance will be the key to help Vietnam attract international capital, towards a sustainable economic development.
Some pictures at the workshop:
Source: https://www.petrolimex.com.vn/nd/tin-chuyen-nganh/petrolimex-chu-dong-trong-xu-huong-tai-chinh-xanh-thuc-day-chuyen-dich-nang-luong.html
Comment (0)