A project to accelerate the low-carbon circular economy through clean technology innovation and promote sustainable development has been launched by the UN Industrial Development Organization (UNIDO) and Vietnam’s Institute of Strategy and Policy on Natural Resources and Environment, which is under the Ministry of Natural resources and Environment.
The project is being funded by the Global Environment Facility (GEF), the Vietnamese government, and other partners with an investment capital of more than $11 million.
According to domestic media reports, the initiative integrates waste management, energy efficiency, and renewable energy to promote sustainable and inclusive development in the nation’s core sectors.
The plan for developing the circular economy in Vietnam was approved by the prime minister on June 7 of last year. It identifies the development of the circular economy as inevitable, in line with the global trend, and a prerequisite for achieving significant progress in both the UN Sustainable Development Goals and economic recovery.
