According to the IEA (International Energy Agency), we must double the global rate of energy efficiency improvements until 2030 to reach net zero by 2050. In a world where energy and climate crises are intertwined, companies search for ways to keep up with sustainability regulations while maintaining profitability.

Hanoi authorities have teamed up with relevant agencies to provide technical assistance to businesses in developing energy efficiency indices and adopting advanced energy-saving technologies.

Joining hands to save electricity to implement the electricity demand response (DR) program has brought benefits to businesses and people while still ensuring production, business, and daily life. At the same time, it contributes to reducing the pressure on the power supply during the peak season.

For large industries such as paper, steel, and others with large energy consumption, effective energy management is extremely important. It is not only a key factor in reducing product costs, but also directly impacts the long-term survival and development of the business.

A World Economic Forum and PwC report sets out a host of energy efficiency actions it claims are 'doable today, at attractive returns with no need for new technology.'

Many businesses in Thua Thien Hue Province have adjusted their operations, shifting production to off-peak hours and optimizing equipment to support the power sector’s electricity efficiency initiatives.

The national energy development strategy of Vietnam by 2030, with a vision to 2045, aims to achieve an energy saving ratio of approximately 7 - 10% of the total final energy consumption compared to the business-as-usual scenario by 2030, and about 14 - 20% by 2045.

Energy efficiency not only optimises a business' operations but is also critical to green growth. However, there is still a lot of work to be done by all stakeholders to support them in transitioning to new, energy-saving technology.

A project to promote energy efficiency among large business enterprises was kick-started by the Ministry of Industry and Trade (MoIT), in collaboration with the United Nations Industrial Development Organization (UNIDO).

Prime Minister Pham Minh Chinh has demanded power supply be guaranteed for production and business activities as well as people’s daily life during the rest of 2023 and next year.

Assessment of EE equipment market, support to EE equipment suppliers on the market identification, business plan development, skill improvement for sales and taking care of customers after sales and awareness raising on the use of high efficiency equipments for IEs (Package No. C2.1.17) Contract

An energy transition seminar on Norwegian-Vietnamese business partnerships opened in Ho Chi Minh on September 13, hosted by the Norwegian Embassy in Vietnam in collaboration with the Oil, Gas and Coal Department under the Ministry of Industry and Trade (MoIT).

C2.1.17: Assessment of EE equipment market, support to EE equipment suppliers on the market identification, business plan development, skill improvement for sales and taking care of customers after sales and awareness raising on the use of high efficiency equipments for IEs

Thailand’s energy authorities are preparing to make an electricity saving campaign a mandate for households and businesses as they struggle to deal with the high prices of liquefied natural gas (LNG) which may keep soaring in the winter, putting more financial burden on national power generation, reported the Bangkok Post.

Government guidance would empower consumers, helping them save on bills, says thinktank

Cap on outsize revenues will bring solidarity from businesses towards struggling customers, says official

A National Grid director sets out plan to reward homes and businesses for using energy outside of peak hours

The energy structure in the next 10 years will change due to the impact of the pandemic as well as policy adjustments and sustainability as it recovers. Therefore, from now on, businesses in the Vietnamese energy industry need to plan and come up with an implementation strategy to be able to adapt to the new normal.

At the virtual conference with the Minister for Department for Business, Energy and Industrial Strategy of the United Kingdom and Northern Ireland Greg Hands on the afternoon of October 21, Minister of Industry and Trade Nguyen Hong Dien said that Vietnam prioritizes to develop renewable energy, reduce coal-fired power, strive to achieve carbon neutrality soon.

Green energy cooperation projects under the ESCO model have recently demonstrated their ability to help businesses achieve sustainability goals and quickly enter the "new normal".