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MINISTRY OF FINANCE PROPOSES NEW ENVIRONMENTAL FEES
(ICE) – ROMA, 28 AGO – HÀ NỘI — The Ministry of Finance is calling for comments on a proposal to impose environmental fees on greenhouse-gas-emitting facilities, an effort to reduce their carbon footprint and incentivise greener practices.
Under the proposal, the environmental fees are composed of two parts: a lump-sum part and a per-unit part. The former is set at VNĐ3 million (US$125.7) per year per facility whereas the latter is between VNĐ500 and VNĐ800 per tonne for their emission of four major pollutants (particulate matter, nitrogen oxides, sulfur oxides, and carbon monoxide).
The introduction of the fees is projected to increase fiscal revenue by VNĐ1.2 trillion ($50.2 million), which could be used to tackle air pollution at the grassroots level. Facilities that would be made subject to the tariffs include steel mills, fertiliser plants, oil refineries, and thermal power generators.
The Ministry of Finance believes that the proposal would contribute significantly to the reduction of greenhouse gas emissions in Việt Nam by incentivising investments in eco-friendly technologies and accelerating the phase-out of environmentally-inefficient equipment.
The expert was also concerned about the possibility that observatory organisations and manufacturers could collaborate to exploit the proposal.
With 5.1 million cars on the road, 120,000 manufacturing facilities, 110,000 construction companies, and a couple of dozen heavy-industry complexes in the country, the amount of pollutants released daily into the atmosphere has reached a point that demands tough action, according to the ministry. — VNS (ICE HO CHI MINH CITY)