The United States Mission to Vietnam has announced that the United States Agency for International Development (USAID) and Standard Chartered Bank (Vietnam) have signed an MoU for achieving net-zero emissions by 2050.
In his remarks, USAID/Vietnam Mission Director Grubbs emphasized the importance of this partnership in facilitating financing for the private sector to spearhead Vietnam’s advanced clean energy initiatives. He highlighted the MOU as a model for expanding collaboration with financial institutions to accelerate the nation’s ambitious net-zero emissions goal.
This partnership underscores the United States’ commitment to Vietnam’s transition to a clean, secure, and market-based energy sector, aligning with the shared priorities under the Comprehensive Strategic Partnership between the two countries. As Vietnam continues to prioritize sustainability and environmental stewardship, collaborations like these are essential for driving tangible progress towards a greener and more prosperous future.
Under the terms of the MOU, USAID and SC will collaborate to mobilize private sector investment in advanced energy systems, including rooftop solar, utility modernization, and power trading. USAID’s support will encompass various initiatives such as training, capacity development, transactional support, and matchmaking activities.
