Four-way partnership to advance carbon emission-reduction plan

The Hai Phong Department of Agriculture and Environment, along with Kinh Bac City Development Holding Corporation, Global Advisory Co. (of the Commonwealth of Australia), and Allotrope Viet Nam Co., Ltd., signed a memorandum of understanding on building and implementing Hai Phong's carbon emission-reduction plan for 2026-2030, with a vision to 2050.

This cooperation stems from Hai Phong's implementation of the National Strategy on Climate Change to 2050, approved under Decision No. 896/QD-TTg dated July 26, 2022, by the Prime Minister, and Resolution No. 08-NQ/TU dated January 29, 2026, of the city's first-term Party Committee, on Hai Phong's green transition for 2026-2030 with a vision to 2050. The city is also preparing to pilot a financial mechanism for greenhouse gas emission-reduction measures through carbon credit trading and offsetting, working toward net-zero emissions by 2050.

Under the agreement, the Hai Phong Department of Agriculture and Environment has asked its partners to help build capacity among public-sector staff to manage, monitor, and integrate an Emissions Trading System (ETS), international carbon trading, and a roadmap toward net-zero emissions. The parties will assess potential emission-reduction projects, including industrial emission cuts and carbon capture, utilization, and storage (CCUS).

They will also identify, evaluate, and promote green projects to support low-carbon industrial zones powered by clean energy, along with efficiency improvements and circular-economy solutions. Support will cover industrial renewable energy, battery energy storage system (BESS) solutions, efficiency improvements, sustainable construction materials, electrification of industrial heat processes, and sustainable land-use initiatives. The parties also proposed developing policy mechanisms and designing the city's carbon emission-reduction plan, focusing on a pilot ETS and energy transition solutions.

Under the terms of the agreement, Global Advisory Co., Allotrope Viet Nam Co., Ltd., and Kinh Bac City Development Holding Corporation will support the decarbonization process through capacity building, technical assessment, and review of relevant policies, regulations, and solutions to propose recommendations for the city.

Global Advisory Co. and Allotrope Viet Nam Co., Ltd. will help build and provide consulting on implementing the city's carbon emission-reduction plan for 2026-2030, with a vision to 2050, while also advising on the pilot ETS and energy transition solutions, and supporting recommendations on policy mechanisms and potential carbon-reduction plans for the city.

Allotrope Viet Nam Co., Ltd. will identify and propose advanced green projects that could be deployed in the city, including renewable energy, battery energy storage system (BESS) solutions, or other low-carbon solutions for Hai Phong's industrial zones.