During the Ministerial Dialogue on Innovative Financial Mechanisms for Healthy Land and Drought Resilience, held in Ulaanbaatar on August 24 in the framework of the 17th Session of the Conference of the Parties (COP17) to the United Nations Convention to Combat Desertification (UNCCD), hosted by Mongolia from August 17-28, the Vietnamese delegation officially presented these strategic proposals to international partners.
Addressing the global threats of land degradation and severe drought on food and water security, Vietnam shared three core domestic solutions currently being deployed: payment mechanisms for forest environmental services, the development of forest carbon markets alongside green finance tools, and the promotion of public-private-community partnerships.
Based on its national experience, the Vietnamese delegation recommended three strategic priorities to scale up innovative financial mechanisms globally.
First, international climate and land finance access must be simplified, accompanied by targeted de-risking instruments to mobilize private sector capital.
Second, the global community should establish transparent, high-integrity standards for carbon markets and ecosystem services to ensure efficient resource allocation.
Third, technology transfer should be accelerated, particularly in digital land monitoring and drought early-warning systems.
Reaffirming the critical role of the UNCCD, Vietnam expressed its readiness to strengthen cooperation with the UNCCD Secretariat and member states to advance sustainable, resilient land degradation neutrality worldwide.
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