A new initiative aimed at developing financing solutions for the decarbonisation of Vietnam’s cement industry has entered its preparatory phase following an inception workshop held on 13 March.
The project is being implemented by United Nations Industrial Development Organization (UNIDO) in partnership with Vietnam’s Ministry of Construction of Vietnam and funded by the Mitigation Action Facility. International partners include the International Finance Corporation and the Global Cement and Concrete Association.
Vietnam’s cement industry, the third largest globally, accounts for around 16 per cent of national greenhouse gas emissions, making its decarbonisation critical to the country’s 2050 net-zero target.
The initiative aims to establish a financial mechanism to support private investment in low-carbon technologies, including limestone calcined clay cement (LC3), supplementary cementitious materials and waste heat recovery. It will also support the development of a national decarbonisation roadmap and standards for low-clinker cement.
