Net Zero and Vietnam's Greenhouse Gas Reduction Commitment: Fighting Climate Change

1. Net Zero - Basic concept

"Net Zero" is an increasingly important concept in the fight against climate change. It refers to the state where the total amount of greenhouse gases released into the environment due to human activities is balanced with the absorption of greenhouse gases, use of renewable energy, and other measures to remove or completely compensate for emitted greenhouse gases. This means that greenhouse gas emissions are zero or negative, contributing to controlling global temperature rise.

2. Vietnam's commitment

Vietnam has participated in the fight against climate change through its commitment to reduce greenhouse gases and set a goal of achieving Net Zero in the future. Through these commitments, Vietnam is demonstrating its efforts and responsibility towards environmental protection and building a more sustainable future.

3. Vietnam's measures to reduce greenhouse gases

Vietnam has introduced a series of specific measures to achieve its commitment to reduce greenhouse gases. This includes:

a. Developing renewable energy

Vietnam is investing heavily in renewable energy such as wind power and solar power to reduce dependence on energy from unsustainable sources such as coal and oil.

b. Improved energy efficiency

Improve energy efficiency in industries and households to reduce greenhouse gas emissions.

c. Public transport and trams

Promote the use of public transportation and develop electric vehicles to reduce fossil fuel consumption.

d. Protect forests and reestablish trees

Manage, protect forests, and reestablish trees to absorb greenhouse gases from the air.

4. The importance of this commitment

Vietnam's commitment to reducing greenhouse gases and achieving Net Zero is an important step in the fight against global climate change. Implementing this commitment not only helps protect the environment and minimize the impact of climate change but also promotes sustainable development and improves the quality of life for people.

At the 27th conference of the parties to the United Nations Framework Convention on Climate Change (COP 27) taking place in Egypt in 2022, Vietnam made a strong commitment to the Net Zero goal and reducing greenhouse gases to cope with climate change. The measures already being implemented are an important step in protecting the environment and building a sustainable future for our country and planet.

5. International standards on greenhouse gases

To help you learn about international standards on greenhouse gas management - ITVC Global would like to introduce some standards as follows:

ISO 14060 series of standards.

This set of standards provides clarity and consistency in quantifying, monitoring, reporting, and validating or verifying GHG emissions and removals to support sustainable development through a low-carbon economy and benefits organizations, project proponents, and interested parties worldwide. Specifically, the use of ISO 14060 standards:

- Improve the environmental integrity of GHG quantification;

- Improve the reliability, consistency, and transparency of GHG quantification, monitoring, reporting, testing, and validation;

- Facilitate the development and implementation of GHG management strategies and plans;

- Facilitate the development and implementation of mitigation actions through reduced emissions or enhanced removals;

- Facilitate the ability to track performance and progress in reducing GHG emissions and/or enhancing GHG removals.

Applications of the ISO 14060 family of standards include:

- Business decisions, such as identifying opportunities to reduce emissions and increase profits by reducing energy consumption;

- Manage risks and opportunities, such as climate-related risks, including financial, regulatory, supply chain, product and customer, litigation, reputational risk, and business opportunities (e.g. new markets, new business models);

- Voluntary initiatives, such as participating in voluntary GHG registration activities or sustainability reporting initiatives;

- GHG markets, such as trading of GHG allowances or credits;

- GHG government/regulatory programs, such as early action credits, and national and local reporting agreements or initiatives.

These documents detail the principles and requirements for the design, development, management, and reporting of GHG inventories at the organizational level. It includes requirements to define GHG emissions and removal boundaries, quantify an organization's GHG emissions and removals, and identify company-specific actions or activities to improve GHG management. It also includes requirements and guidance on inventory quality management, reporting, internal audit, and organizational responsibilities during verification activities.

ISO 14060 component standards

ISO 14064-1: Specifications and guidance for quantifying and reporting greenhouse gas emissions and removals at the organizational level;

ISO 14064-2 details the principles and requirements for determining baselines and monitoring, quantifying, and reporting project emissions. It focuses on GHG projects or project-based activities specifically designed to reduce GHG emissions and/or enhance GHG removals. It provides the basis for verified and validated GHG projects.

ISO 14064-3 details the requirements for the verification of GHG claims related to GHG inventories, GHG projects, and product carbon footprints. It describes the verification or validation process, including verification or validation planning, assessment procedures, and evaluation of organizational, project, and product GHG reports.

ISO 14065 defines the requirements for bodies that certify and verify GHG claims. Its requirements include objectivity, competence, information exchange processes, validation and verification, complaints, complaints, and management systems of validation and verification bodies. It can be used as a basis for accreditation and other forms of recognition related to the objectivity, competence, and consistency of appraisal and inspection bodies.

ISO 14066 specifies competency requirements for validation and verification teams. It includes principles and stipulates competency requirements based on the task that the validation or verification team must be able to perform.

ISO 14067 defines principles, requirements, and guidance for quantifying a product's carbon footprint. The purpose of ISO 14067 is to quantify greenhouse gas emissions associated with the stages of a product's life cycle, starting with resource extraction and raw material sourcing and extending through the stages of production. , use, and end of product life cycle.

ISO/TR 14069 supports users in adopting this document, providing guidance and examples to improve transparency in emissions quantification and reporting. It does not provide additional guidance for this document.