1.6. The green finance in universities in Vietnam
Green finance within Vietnamese universities represents a rapidly developing sector, increasingly bridging the gap between environmental sustainability and financial strategy. This evolving landscape is characterized by an expanding inclusion of sustainable finance topics within academic curricula. Courses on sustainable finance, environmental economics, and related disciplines are becoming commonplace, signifying a shift towards an educational focus on sustainability principles in finance. On a practical level, universities are actively investing in energy-efficient infrastructures, such as solar panels and green buildings, underlining a commitment to sustainable campus management. For example, the UEH Green Campus project wishes to embark on solving environmental problems right at the campuses of the university. To build a clean and beautiful university campus and to aim to be “green” in a comprehensive way, in July 2023, University of Economics Ho Chi Minh City (UEH) officially issued the Regulation of Green Campus Practices for the entire campus of UEH and Vinh Long, encouraging officials, employees, learners and units relevant to practices today (UEH, 2023). These projects typically draw funding from diverse sources, including government grants, private investments, and internal university funds.
Simultaneously, the field of green finance is gaining momentum in academic research within these institutions. Among them, universities in economics and finance often have clearer progress due to similarities in expertise. Universities are spearheading studies on various facets of sustainable investments, assessing the economic impact of environmental policies, and exploring the development of innovative green financial products. This research not only enriches academic knowledge but also contributes to informed decision-making in both the public and private sectors in Vietnam.
Collaborative efforts are a cornerstone of this progress, with universities partnering with financial institutions, government bodies, and industries. These collaborations are instrumental in driving forward the green finance agenda, offering students practical experiences and insights into the real-world challenges and solutions in sustainable finance.
Despite these advancements, Vietnamese universities face several hurdles in fully embedding green finance into their systems. The foremost challenge is the limited availability of funding for ambitious sustainable projects. Moreover, there is an observed deficit in specialized faculty with deep expertise in green finance, which is critical for both teaching and research. Another significant challenge lies in cultivating a broader awareness and a mindset oriented towards sustainability among the university communities, including students and staff.
Government policies and regulatory frameworks in Vietnam play a decisive role in shaping the trajectory of green finance in the academic sector. Policies that provide incentives for sustainable investments and allocate funds for green initiatives can immensely aid universities in adopting and implementing green finance strategies. Clear and supportive regulatory guidelines are essential to ensure that these investments are effectively aligned with broader environmental sustainability goals.
The future of green finance in Vietnamese universities presents a landscape rich with possibilities. As global consciousness about environmental issues continues to rise, the demand for education and expertise in sustainable finance is expected to grow. Vietnamese universities are strategically positioned to emerge as leaders in green finance education and research in the region. The realization of this potential hinges on continued investment in this area and the successful navigation of current challenges. With sustained effort and support, these institutions can significantly contribute to Vietnam’s journey towards sustainable financial practices and overall sustainable development.
