The UK Embassy and PwC Vietnam have announced that nine low-carbon projects in Vietnam are among the first cohort to join the Climate Finance Accelerator (CFA) Vietnam, which helps low-carbon projects gain access to investment capital.

Selected projects include those from Blue Planet Environmental Solutions, Control & Automation Solutions, Dat Bike, Deep C Green, the Egreen Technology JSC, the Hoa Binh High Tech Environment Joint Stock Company, the Power Engineering Consulting Joint Stock Company 4, the Vietnam Sustainable Materials Corporation, and VRB Energy.

Each represents diverse sectors, such as renewable energy, resource / energy efficiency, e-mobility, AFOLU (agriculture, forestry, and other land uses), decarbonizing construction, the circular economy, and waste management, which have the potential to benefit communities around Vietnam.

“The exciting and innovative projects selected to be part of CFA Vietnam underline the significant potential of Vietnam’s private sector in helping tackle the climate crisis,” said British Ambassador to Vietnam, H.E. Iain Frew. “The expertise shared with these projects will help move them closer to finding investment, leading to reductions in carbon emissions for communities around the country.”

“This initiative closely aligns with PwC Vietnam’s commitments to ESG business practices and agendas,” said Ms. Dinh Thi Quynh Van, CEO of PwC Vietnam. “We hope that the capacity-building support in this program will help the selected cohort attract funding for their projects and contribute towards supporting Vietnam’s implementation of its climate ambitions.”

To improve project readiness and opportunities to attract investment from Vietnamese and international investors, the projects will receive tailored one-to-one and group support. This will include advice on technical aspects, financial models, pitch materials, and enhancing gender equality and social inclusion (GESI).

Following the capacity-building and mentoring sessions, the projects will meet with investors and financial institutions at a workshop in May. This will allow project developers to further refine their financial structuring through personalized discussions with interested financial institutions.

The workshop will also provide an opportunity for participants to network and for policymakers to understand the challenges faced by other stakeholders in the climate finance space.

The CFA is a $14.5 million technical assistance program funded by International Climate Finance (ICF) through the UK Government’s Department for Energy Security and Net Zero (DESNZ). It is being implemented in nine countries - Colombia, Egypt, Mexico, Nigeria, Pakistan, Peru, South Africa, Turkey, and Vietnam - and is working to develop a sustainable pipeline of bankable, low-carbon projects in each country.

It is part of the UK Government’s efforts to help Vietnam meet the commitments made by its Prime Minister Pham Minh Chinh at COP26 in Glasgow in 2021 and to offer support to implement the Vietnam Just Energy Transition Partnership (V-JETP) that was agreed upon in December 2022. CFA Vietnam is being implemented by PwC Vietnam.