FPT IS joins hands with businesses in carbon footprint measurement to co-create a green economy
On the afternoon of April 16, Mr. Tran Duc Tri Quang – Chief Data Officer of FPT IS participated in the discussion session titled “Supply Chain of Decarbonization Technologies” at the Australia – Vietnam Green Economy Summit. The event took place in Ho Chi Minh City, attracting nearly 200 businesses, investors, and experts from both countries.
Vietnam is playing a major role in the region’s decarbonization process amid the thrilling race of companies to invest in the decarbonized economy. This stimulates the desire of developed countries, including Australia, to push cooperation with Vietnam in the green economy.
The Australia – Vietnam Green Economy Summit is an event hosted by Asialink and Climateworks, and supported by the Australian Department of Foreign Affairs and Trade. The summit aims to promote the combined effort between the governments and enterprises in the development of a green economy by creating trade opportunities and connections, as well as enhancing business capability.
At the event, representatives of the Australian government affirmed that the country has carried out a number of projects to investigate and evaluate the potential for cooperation between the two countries in the field of green energy. Australia plans to spend about AUD 245 million (equivalent to over USD 180 million), of which, AUD 150 million will be for energy transition and AUD 95 million for response to climate changes in Vietnam.
During his speech to the business community, Vice Chairman of Ho Chi Minh City People’s Committee Vo Van Hoan stressed that green transformation could start with green finance, geared towards the implementation of the green bond planning project of local governments through the green credit program.
“Going green”, however, is not a path paved with roses. It requires a lot of changes in core technology, operating processes, as well as supply chain partners. Mr. Tran Duc Tri Quang – Chief Data Officer of FPT IS stated: “Technology and data will act as the “backbone” on a company’s path to get into the green scene. Specifically, these involves applications that address 4 problems: accounting, forecasting, optimization, and suggestion of an investment roadmap to reduce emissions.
As a leading technology company in Vietnam, we have been putting in our considerable effort to research and develop all-in green transformation solutions since 2020. Our interest in green transition was awoken by an increase of 20 – 30% per year in our annual energy consumption. Our short-term goal is to go green ourselves, then scale up the applications to tackle the challenges of carbon accounting and carbon footprint mitigation for Vietnamese and international companies.”
On the green transformation journey, FPT IS is well-prepared to provide businesses with our strategic product VertZéro which comes with multiple features: carbon accounting that follows ISO 14064-1:2018, IPCC, and GHG protocol standards; development of a carbon footprint reduction roadmap, and monitoring and planning of emission minimization that comply with SBTi; and estimations of investment costs and efficiency. These aim to enable organizations and businesses to effectively carry out carbon accounting, map out strategies to minimize annual carbon tax risks, and boost revenue based on the trend of switching to “green suppliers” and consumer demand for green products. In addition, green companies will be eligible to access new sources of capital – green bonds, which help cut down their capital costs.
The summit has opened up a tremendous opportunity for cooperation between the two countries’ business communities, especially for Vietnamese companies who are facing numerous challenges in knowledge, governance, finance, as well as the existing legal framework that is not favorable for green transformation.
