Ha Noi, 26 June 2020 – The United Nations Development Programme (UNDP) and the Ministry of Planning and Investment (MPI) have launched a new Climate Business Index (CBI). This initiative is developed under the UNDP’s global Support Programme for Nationally Determined Contributions (NDCs), with financial support from the Governments of Germany and Spain and the European Union.

The overall objective of the CBI is to provide a platform for governments, businesses, and enterprises to work together. This includes voluntary announcements on contributions from companies towards climate change for identifying investment needs and potential funding opportunities. The CBI can also be used to address the need for capacity building to support the transformation towards sustainable green business.

According to Mr. Vu Dai Thang, Deputy Minister of the Ministry of Planning and Investment, “consumer trends are also changing towards smarter and more sustainable products. Consumers are increasingly concerned about environmental protection and require more action. They are creating an increasingly stronger trend of using eco-friendly products. Those commitments and trends will make an important contribution to ensure that we have a safer, better life, for today and for future generations,” he stressed.

Through the CBI, a system of data, reports, and business assessments will be developed on awareness, actions against climate change, and environmental protection in Viet Nam.

“COVID-19 recovery presents emerging opportunities for Viet Nam to attract investments to re-ignite Viet Nam's economy, especially for SMEs. We should take this opportunity to pursue triple-win options, that promote: i) green recovery of the economy, fueled by the stimulus package provided by the government; ii) transformation towards more sustainable production processes and production of green products to meet increasing demands by consumers, and , iii) enhanced climate actions to protect our planet, and critically, to reduce the risks to future pandemics and extreme weather events due to climate change,” said Ms. Caitlin Wiesen, UNDP Resident Representative in Viet Nam.

CBI will support enterprise’s self-assessment using the CBI, then classify them into 3 levels: (i) enterprises that are aware of climate change prevention and environmental protection (‘Climate-Aware Company’); (ii) enterprises that have made changes and adaptations in production and business activities towards combating climate change and protecting the environment (‘Climate-Actions Taker’); and (iii) enterprises that have made many contributions to combating climate change and protecting the environment (‘Climate Leader’). All businesses can register in the CBI through its website at http://cbi.undp.org.vn/.

As of June 2020, 115 businesses have already signed up to join the CBI program. Registered businesses include a number of global companies, branches of foreign businesses, large domestic enterprises, small and medium-sized businesses, microenterprises, and startups.

Attending the launching event were leaders and representatives from MPI, UNDP, and many businesses such as IKEA, Solar BK, MBI Motors, Aya Cup, Mavin Group, Tundra Fonder, Ernst & Young, and Vietin Bank. The attendees also joined roundtables on how to build a green business, opportunities and challenges for enterprises in the transformation to sustainable development, and global trends and changes in policy and environment, as well as ways to support green business in Viet Nam.

For more information, please kindly contact:

Phan Huong Giang,
CCE Media and Communications Analyst,
United Nations Development Programme,
Email: phan.huong.giang@undp.org       Mob: 0948466688

Sojin Jung
Climate Change Private Sector Expert,
United Nations Development Programme,
Email: sojin.jung@undp.org