Introduction

UNDP Viet Nam is supporting a coherent financial system to drive the country’s transition to a green, resilient economy. The focus is on strengthening public finance governance, advancing pathways for financing climate-related loss and damage, and developing bankable projects in key sectors like agriculture. This work is part of the UNDP Climate Finance Network, supported by the UK FCDO CARA Programme. 

What we do

🏛️ Strengthening public climate finance  

The challenge: Costing Viet Nam’s climate goals and mapping available sources of finance to reach adaptation and mitigation priorities.  

The approach: Collaboration with the Ministry of Agriculture and Environment and Ministry of Finance to support the formulation of a climate finance strategy and relevant analyses to inform NDC development

The impact: A guiding strategy and approaches that identifies key measures to mobilise resources for Viet Nam’s mitigation, adaptation, and resilience goals up to 2035.  

📈 Advancing pathways for financing loss and damage (L&D)

The challenge: Identifying priority actions and potential financing sources for addressing climate-related L&D.

The approach: Developing a national L&D roadmap, Strengthening Viet Nam’s Readiness to Address Loss and Damage, and assessing the feasibility of various L&D financing pathways.

The impact: Loss and damage mainstreaming in Viet Nam’s NDC and support for accessing the Fund for Responding to Loss and Damage (FRLD). 

Our impact in action

📊 Informing national climate policy analysis with an economic modeling tool 
The UNDP climate-economy modeling tool has been developed and customized to Viet Nam’s context. The tool provides information on quantifying the impacts of climate change in economic terms, enhancing expert capacity to prioritize adaptation measures based on rigorous data.

🤝 Pioneering access to the Loss and Damage Fund  
To help Viet Nam address the growing impacts of climate change, support was provided for the country’s official funding request for the international Fund for Responding to Loss and Damage (FRLD). This builds the first foundation for Viet Nam to execute the country’s L&D Roadmap and spurs momentum to implement future prioritized measures for long-term climate resilience. 

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