Blog

2024 marks a significant milestone for Acecook Vietnam as it climbed from 60th to 13th place in the Top 100 Sustainable Enterprises (CSI) rankings. This achievement clearly demonstrates the company's commitment to fostering sustainable development, protecting the environment, and creating positive value for society.

Vietnam is increasingly affirming its role as a global strategic partner through its participation in numerous multilateral and bilateral free trade agreements. This presents significant opportunities for domestic enterprises—particularly small and medium-sized ones—to integrate more deeply into global supply chains and trade.

In 2024, Vietnam's wood industry achieved an export turnover of $16.25 billion—a 20.3% increase compared to 2023—surpassing the previous record of $15.8 billion set in 2022. Of this total, wood products accounted for $11.2 billion, up 21.9%. Non-timber forest products contributed an additional $1.04 billion, bringing the industry's total export value to $17.3 billion.

Vietnam is currently one of the world's leading producers of wood pellets, with an annual output of approximately 4 million tons, 95% of which is exported to Japan and South Korea. However, alongside the Government's commitment to achieving Net-Zero emissions by 2050, the domestic market is opening up significant opportunities for wood pellets.

On January 9, 2025, Brazil enacted an amendment to the National Biofuels Policy Act, opening up opportunities for biomass producers to share in the revenue generated from Decarbonisation Credits (CBIOs). Previously, only biofuel producers benefited from CBIOs. This change marks a significant step forward in recognizing the role of biomass producers within the renewable energy value chain.

Vietnam's textile, garment, and footwear industry plays a vital role in the economy, accounting for 16% of the country's total export turnover and employing over 3 million workers, 75% of whom are women. However, the industry faces significant challenges in transitioning toward sustainable development to meet increasingly stringent international standards from major markets such as the EU.

On December 6, 2024, in Hanoi, the Vietnam Timber and Forest Product Association (Viforest) and relevant organizations held an international seminar titled "Vietnam’s Wood Industry Facing Shifts in Export Markets." The event focused on new U.S. trade policies, their impact on the wood industry, and how Vietnamese enterprises can adapt to the resulting challenges and opportunities.

Indonesia's state-owned power company, PT PLN, is increasing the use of biomass co-firing at its coal-fired power plants to foster sustainable development and unlock new economic opportunities. This initiative is part of Indonesia's long-term strategy to reduce reliance on coal and transition toward renewable energy sources.

COFORD (the Council for Forest Research and Development) of the Irish government has just released a significant report recommending future policies to enhance the role of forest biomass in achieving climate goals. Titled "Forest Biomass and Modern Bioenergy: Towards Net Zero," the report emphasizes the importance of utilizing forest resources sustainably to support the energy transition and reduce greenhouse gas emissions.

The clean energy transition not only presents significant economic opportunities but also serves as a crucial foundation for fostering social investment. This is a key factor in attracting socially responsible investors who are concerned not only with profits but also with creating positive impacts on the environment and the community.

Amid rising fossil fuel prices and stringent environmental standards, biomass fuel—particularly wood pellets—is emerging as a preferred sustainable energy solution for food processing enterprises. Utilizing biomass fuel not only reduces costs and enhances operational efficiency but also contributes to building an eco-friendly corporate image.

Vietnam is moving closer to establishing and operating a carbon market, as outlined in the draft scheme for the creation and development of such a market in the country. The market is expected to undergo a pilot phase from 2025 to 2028 before officially launching in 2029. This represents a crucial step toward fulfilling the national commitment to achieve net-zero emissions by 2050. The carbon market serves not only as a tool for reducing greenhouse gas emissions but also as a driver of significant economic opportunities, fostering the green transition and enhancing the global competitiveness of domestic enterprises.