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In line with the global trend, Vietnam has committed to achieving Net Zero by the year 2050 during the United Nations Climate Change Conference of 2021 (COP26). This long-term commitment presents numerous challenges, yet it also presents significant opportunities for Vietnamese businesses, particularly when they are attuned to the worldwide shift towards sustainability. So, what is Net zero and how to take the leading role towards it?

What is Net Zero?

Net zero is a goal within the battle against climate change, wherein the total amount of carbon emissions is minimized to the bare minimum or completely eliminated . Additionally, it can be understood as achieving a balance between what we emit and what we absorb.

As the economy develops, greenhouse gas emissions and atmospheric pollutants, such as CO2 or methane, also increase. This is contributing to the Earth's rising temperatures. To mitigate the effects of climate change, we need to implement various solutions to use energy efficiently and sustainably, thereby maintaining a balance in greenhouse gas levels.

How can we take lead the Net Zero race?

Once we understand the concept of Net Zero, the first step is to reduce electricity consumption at their facilities. This crucial step can be achieved by collaborating with energy service companies to implement effective energy-saving solutions.

To further reduce emissions, transitioning to renewable energy and using environmentally friendly materials is essential. However, simply switching from traditional energy to clean energy is not enough. It is important to combine multiple strategies and implement various solutions concurrently for a comprehensive approach.

GreenYellow - Empowering Vietnamese businesses on the path to Net Zero

In an interview with Investment Newspaper, Mr. Yoan Guyon - Chief Commercial Officer (CCO) of GreenYellow, shared insights into the company's Net Zero implementation roadmap. He is currently responsible for expanding GreenYellow's market in Vietnam, supporting GreenYellow in becoming a pioneering partner for businesses in the industrial sector.

GreenYellow is dedicated to supporting businesses in achieving their Net Zero goals through sustainable energy solutions. To materialize this commitment, GreenYellow has devised a comprehensive Net Zero implementation roadmap:

The journey begins with the implementation of Energy Saving solutions aimed at optimizing efficiency and harnessing energy conservation. This solution facilitates a reduction of up to 20% in Scope 2 emissions for customers.

Subsequently, the company plans to invest fully in Rooftop solar systems , enabling customers to utilize clean energy sources and decrease electricity consumption by 20-30%. Beyond the fifth year, additional solar capacity will be installed for customers.

In tandem, GreenYellow assists customers in optimizing the consumption of solar energy through Battery Energy Storage System (BESS) solution. This technology effectively and continuously leverages renewable energy. When integrated, BESS allows customers to use energy during peak hours and at night without interruption.

As a trusted partner in facilitating the registration of I-REC renewable energy certificates in Vietnam, GreenYellow assists businesses in completing the necessary procedures to obtain I-REC certificates issued directly by the global issuer, GCC. Consequently, from year 2 to year 6, a company's greenhouse gas emissions will be offset by I-REC.

Finally, upon the approval of the DPPA mechanism , businesses will be able to procure electricity directly from GreenYellow at a preferential rate compared to current electricity prices.

With 17 years of global experience in energy efficiency and renewable energy, GreenYellow takes pride in offering its customers a unique and tailored roadmap, facilitating a swift and effective path to Net Zero.