Net Zero: Creating a Sustainable Future, Realizing Climate Commitments

What is NET ZERO?

Net Zero is a state where the amount of greenhouse gases (GHG) released into the atmosphere by humans is balanced by the amount of GHG removed from the atmosphere over a given period of time. Achieving Net Zero does not mean ceasing emissions completely, but rather minimizing emissions from all activities and offsetting the remaining unavoidable emissions through carbon removal solutions.

Why do businesses need to move towards Net Zero?

“Committing to Net Zero is not only a moral responsibility in the fight against climate change but also a strategic requirement to ensure sustainable development. The Vietnamese Government has committed to achieving Net Zero by 2050. Businesses that pioneer the Net Zero roadmap will seize the opportunities from the low-carbon economy, increase resilience to climate regulations, attract green talent and investment, and affirm their leading role in the industry.”

How does VIGIC support businesses to achieve Net Zero?

“VIGIC provides comprehensive services to help businesses build a scientific and feasible Net Zero roadmap, starting from accurately inventorying carbon footprints (Scope 1, 2, 3), setting science-based emission reduction targets (SBTi), identifying and implementing mitigation solutions (energy saving, renewable energy…), and consulting on reputable carbon offset mechanisms (if needed).”

Benefits of Building a Net Zero Roadmap with VIGIC

Meeting National & International Commitments

Proactively implement Vietnam’s Net Zero 2050 goals and requirements from global supply chains and partners.

Optimize Operating Costs

Identify opportunities to save energy, reduce resource waste, reduce long-term operating costs and future carbon compliance costs.

Promoting Innovation & Creativity

Encourage research and application of clean technology, efficient production processes, and development of low-carbon products/services.

Elevate Your Leading Brand

Affirming the pioneering role in the environment, creating a difference and attracting customers and investors with a sense of sustainability.

Enhanced Resilience

Reduce dependence on fossil fuels, prepare for carbon pricing policies and the physical impacts of climate change.

Access to Green Finance

Unlock preferential capital sources and sustainable investment opportunities dedicated to Net Zero goals and projects.

Steps to Realize Net Zero Goal

Greenhouse Gas Inventory (GHG Inventory)

Define boundaries, collect data and accurately calculate direct and indirect GHG emissions (Scope 1, 2, and relevant Scope 3) according to international standards (GHG Protocol, ISO 14064).

Target Setting

Scenario analysis, identification of mitigation potential and setting of science-based short-, medium- and long-term (Net Zero) emission reduction targets (SBTi recommendation).

Building a Roadmap & Action Plan

Build a detailed roadmap with specific initiatives and solutions (energy efficiency, renewable energy, supply chain optimization…), allocate resources and define KPIs to monitor.

Solution Deployment & Progress Tracking

Support the implementation of proposed solutions, establish a system to monitor, measure and report on the progress of the Net Zero roadmap.

Carbon Offset & Communications (If Required)

Advise on credible carbon offset mechanisms for remaining emissions that cannot be reduced. Support communication of Net Zero commitments and achievements.

Investing for a Carbon Free Future

The cost of developing and implementing a Net Zero roadmap depends on many factors such as the scale of emissions, the complexity of operations and supply chains, the scope of the inventory (Scope 1, 2, 3), the ambition of the target and the mitigation measures to be implemented. VIGIC offers flexible service packages, from basic inventory to comprehensive roadmap development.

To receive detailed advice and quotes for your business’s Net Zero journey, please contact us.