Diversification of financial resources for environmental protection in Vietnam - benefits, challenges and solutions

Abstract

Diversifying financial resources for environmental protection is the process of expanding the mobilization, coordination and utilization of various types, channels or sources of finance to ensure adequacy, stability, sustainability and efficiency in mobilizing and utilizing capital for environmental protection. In other words, diversifying financial resources for environmental protection means creating a "wide door" to attract capital for environmental purposes through multiple mobilization channels with different tools and institutions, without relying solely on a single source of capital from the state budget. The article analyzes the benefits and challenges in diversifying financial resources for environmental protection in Vietnam. From there, it proposes solutions to implement the diversification of financial resources for environmental protection with the goal of sustainable development.