On August 28, the Vietnam National Petroleum Group (Petrolimex/the Group) participated in the “Vietnam Green Finance 2025” conference in Ho Chi Minh City, organised by S&I Ratings in collaboration with Fitch Ratings. The event brought together numerous international financial institutions, major enterprises, and regulatory agencies to discuss ESG trends, green finance, and their impact on the Vietnamese market.

At the event, member of the Board of Management of Petrolimex Tran Tuan Linh had a presentation on the topic "Energy Transition: Opportunities and Challenges for Vietnam". The Petrolimex leader emphasised that energy transition is an irreversible global trend, but in reality, the roadmap between the set expectations and actual implementation has not been truly synchronised. While many major energy corporations worldwide have quickly caught up with the trend and invested heavily in renewable energy, green hydrogen products, and sustainable aviation fuel (SAF), they are now also re-evaluating the actual situation and having to balance green goals with economic efficiency and the benefits of businesses and shareholders.

Vietnam has demonstrated its commitment to green transition through its pledge to achieve Net Zero by 2050, Power Development Plan VIII, and the Just Energy Transition Partnership (JETP) agreement, which helps Vietnam mobilise US$15.5 billion from public and private finance within 3-5 years on its energy transition journey. However, a significant gap still exists, as over 70 per cent of primary energy still comes from fossil fuels, electricity grid infrastructure is limited, and green credit accounts for less than 5 per cent of the total outstanding loans of the entire industry.

In this context, Petrolimex has been implementing many specific solutions to realise its green transition vision:

• Supplying clean fuel products that meet the highest standards in Vietnam, including E10 gasoline, Ron95-V, DO 0.001S-V, B5, and sustainable aviation fuel (SAF).

• Investing in green technologies such as vapor recovery systems, floating roofs to reduce gasoline evaporation, wastewater treatment plants, and oil spill response equipment.

• Developing new energy infrastructure, including electric vehicle charging stations, installing solar power at petroleum depots and retail stores, and researching hydrogen fueling stations.

• Conducting greenhouse gas inventories across the entire Group, publishing sustainability reports in accordance with GRI and IFRS ESG standards, and initially implementing carbon credit projects

“For Petrolimex, ESG is not just about figures in a report - it is a guiding principle that shapes all of our business activities,” said Mr. Linh. “We aspire to be a pioneering enterprise in Vietnam’s energy transition, ensuring national energy security while deepening our engagement in the global green energy value chain.”

With the insights shared, the “Vietnam Green Finance 2025” conference served not only as a platform for professional exchange but also as a significant step toward greening the economy. As ESG becomes an essential requirement, enhancing awareness, improving credit rating systems, and promoting the adoption of green finance will be key to helping Vietnam attract international capital and move toward a sustainable economic future.

Some photos highlight the conference: