Decision No. 21/2025/QD-TTg on environmental criteria and confirmation of investment projects under the green classification list.

Pursuant to …;

Specifies environmental criteria and the confirmation of investment projects
listed in the green classification directory

On the basis of Law on Government Organization dated February 18, 2025;

On the basis of Environmental Protection Law November 17, 2020;

Based on Decree No. 08/2022/NĐ-CP dated January 10, 2022 of the Government detailing certain provisions of The Environmental Protection Law;

Based on Decree No. 05/2025/NĐ-CP dated January 6, 2025 of the Government amending and supplementing certain provisions of Decree No. 08/2022/NĐ-CP dated January 10, 2022 of the Government detailing certain provisions of The Environmental Protection Law;

At the proposal of the Minister of Agriculture and Rural Development;

The Prime Minister issues this Decision to specify environmental criteria and the confirmation of investment projects listed in the green classification directory.

Article 1. Scope of Regulation

Article 1. This Decision specifies environmental criteria and the confirmation of investment projects meeting environmental criteria to be eligible for preferential policies and support from the State regarding green credit and green bonds.

Clause 2. Investment projects referred to in Clause 1 of this Article are investment projects listed in the green classification directory.

Article 2. Applicability

Point 1. The project investor, issuer of green bonds wishing to confirm that their investment project is listed in the green classification directory.

Point 2. Authority or organization with the authority to confirm investment projects listed in the green classification directory.

Point 3. State agency with the authority to implement preferential policies and support from the State regarding green credit and green bonds.

Point 4. Credit organizations, foreign bank branches in Vietnam participating in implementing preferential policies and support from the State regarding green credit.

5. Other related agencies, organizations, and individuals.

Point 6. Encourages credit organizations, foreign bank branches in Vietnam to apply the provisions of this Decision to determine and implement green credit for investment projects listed in the green classification directory according to their own policies and in compliance with the law.

Article 3. Environmental criteria for investment projects listed in the green classification directory

Point 1. Has a decision approving the result of the environmental impact assessment report review or an environmental permit or environmental registration in accordance with the law on environmental protection, except for investment projects exempted from environmental procedures under the law.

Point 2. Belongs to the field of environmental protection or brings environmental benefits and meets the requirements specified in Appendix I attached to this Decision.

Article 4. Authority or organization with the authority to confirm investment projects listed in the green classification directory

Point 1. State agency with the authority to review and approve the results of the environmental impact assessment report review or issue an environmental permit for investment projects in accordance with the law on environmental protection.

Point 2. Independent confirming organization meeting all of the following requirements:

Subpoint a. Having legal personality in accordance with the law;

Subpoint b. Conducting business registration in Vietnam or established by a competent state agency's decision;

Subpoint c. Belonging to one of the following types:

Operating conformity assessment services or having conformity assessment functions as prescribed by law;

Operating auditing services;

Subpoint d. Having a management system and operational capacity meeting one of the following requirements:

National Standard TCVN ISO/IEC 17029:2020 or International Standard ISO/IEC 17029:2019 on conformity assessment - General principles and requirements for conformity assessment bodies providing value verification and verification testing services;

Vietnamese Standard on Assurance Services Contract No. 3000 - Assurance services contracts other than auditing and reviewing past financial information or International Standard on Assurance Engagements (ISAE 3000) or amendments, supplements, replacements issued by a competent authority of Vietnam in accordance with the law.

Article 5. Confirmation of investment projects included in the green classification list

The confirmation of investment projects included in the green classification list shall be carried out upon the proposal of the project investor, the issuer of green bonds, and in accordance with one of the following forms:

1. Confirmation by the competent state agency as prescribed in Clause 1, Article 4 of this Decision shall be implemented as follows:

a) The project investor proposes to the competent state agency to confirm the investment project as included in the green classification list simultaneously with the processing of administrative procedures for the examination and approval of the environmental impact assessment report or issuance of an environmental permit;

b) The competent state agency examining the environmental impact assessment report or issuing an environmental permit shall organize the evaluation and confirmation of the investment project as included in the green classification list during the examination of the environmental impact assessment report or consideration of the issuance of an environmental permit. The confirmation result shall be reflected in the decision approving the examination results of the environmental impact assessment report or the environmental permit.

2. Confirmation by an independent certifying organization as prescribed in Clause 2, Article 4 of this Decision shall be implemented as follows:

a) The project investor and the issuer of green bonds submit the application dossier to the independent certifying organization to request confirmation that the investment project is included in the green classification list;

b) The independent certifying organization conducts inspection and review of the dossier to confirm that the investment project is included in the green classification list, ensuring independence and objectivity according to the standards or criteria of the independent certifying organization as prescribed in Point d, Clause 2, Article 4 of this Decision; the confirmation period and fees shall be agreed between the independent certifying organization and the project investor and in accordance with relevant laws;

c) The independent certifying organization shall bear responsibility under the law, before agencies, organizations implementing preferential policies and support from the State regarding green credit and green bonds, and other related agencies, organizations, and individuals for the confirmation results.

3. Inspection, supervision, and handling of violations in the confirmation activities of investment projects included in the green classification list shall be carried out in accordance with laws on environmental protection and other relevant laws.

Article 6. Application Dossier for Confirmation of Investment Projects Included in the Green Classification List

1. In cases where the competent state agency confirms the investment project as included in the green classification list as prescribed in Clause 1, Article 5 of this Decision, the content of the confirmation request for the investment project included in the green classification list shall be reflected in the dossier for the examination of the environmental impact assessment report or the dossier for the issuance of an environmental permit, including:

a) The content of the confirmation request for the investment project included in the green classification list shall be reflected in the application form for the examination of the environmental impact assessment report or the issuance of an environmental permit;

b) The content of the explanatory report of the investment project meeting the environmental criteria prescribed in Article 3 of this Decision, including the contents prescribed in Appendix III issued together with this Decision, and shall be presented as a separate chapter in the environmental impact assessment report or the dossier for the issuance of an environmental permit.

2. In cases where an independent certifying organization confirms the investment project as included in the green classification list as prescribed in Clause 2, Article 5 of this Decision, the application dossier for confirmation of the investment project included in the green classification list shall include:

a) A request for confirmation of the investment project included in the green classification list according to the model prescribed in Appendix II issued together with this Decision;

b) The decision approving the examination results of the environmental impact assessment report in cases where the investment project falls within the scope requiring an environmental impact assessment or the environmental permit in cases where the investment project does not fall within the scope requiring an environmental impact assessment but falls within the scope requiring an environmental permit or environmental registration in cases where the investment project falls within the scope requiring environmental registration as prescribed by laws on environmental protection;

c) An explanatory report on the investment project included in the green classification list at the time of requesting green credit, issuing green bonds, or requesting to enjoy preferential policies and support from the State regarding green credit and green bonds according to the model prescribed in Appendix III issued together with this Decision.

Article 7. Confirmation document for investment projects included in the green classification list

1. In cases where the confirmation of investment projects included in the green classification list is made according to Clause 1 of Article 5 of this Decision, the content of the confirmation shall be reflected in the decision approving the environmental impact assessment report or in the environmental permit, including the information specified in Clause 2 of this Article.

In such cases, the decision approving the environmental impact assessment report or the environmental permit has the same legal effect as the confirmation document for investment projects included in the green classification list.

2. In cases where the confirmation of investment projects included in the green classification list is made according to Clause 2 of Article 5 of this Decision, the confirmation document for investment projects included in the green classification list must include the following information:

a) General information about the confirming organization;

b) The name of the investment project proponent, the green bond issuer;

c) Scope and scale of the investment project's activities;

d) Summary of production, business, service technology; basic information about the project's products;

đ) Content of the confirmation that meets the environmental criteria specified in Article 3 of this Decision;

e) Requirements to meet and maintain the environmental criteria specified in Article 3 of this Decision;

g) Other requirements (if any).

3. The confirmation document for investment projects included in the green classification list according to Clauses 1 and 2 of this Article is one of the grounds for the investment project proponent, the green bond issuer to request preferential policies and support from the State regarding green credit and green bonds in accordance with the laws on environmental protection and other relevant laws.

Article 8. Responsibilities of the investment project proponent after being confirmed as an investment project included in the green classification list

1. Meeting and maintaining the environmental criteria specified in Article 3 of this Decision.

2. Sending a notification document about the investment project that has been confirmed as included in the green classification list to the Ministry of Agriculture and Rural Development within thirty days from the date of the confirmation document for consolidation and monitoring; the model of the notification document about the investment project that has been confirmed as included in the green classification list is stipulated in Appendix IV issued together with this Decision..

3. Fulfilling other responsibilities as prescribed by relevant laws.

Article 9. Implementation Organization

Article 5. Responsibilities

a) Providing guidance, disseminating, and popularizing the implementation of this Decision;

b) Compiling difficulties and obstacles and reporting to the Prime Minister for consideration to update, amend, and supplement this Decision in line with reality;

c) Compiling and updating the list of investment projects included in the green classification list on the Ministry’s website;

d) Adjusting and supplementing the list of investment projects included in the green classification list specified in Appendix I issued together with this Decision.

2. The Ministry of Finance, in coordination with the Ministry of Agriculture and Rural Development, updates and connects data on investment projects included in the green classification list to the national database on investment in accordance with the law.

3. The State Bank of Vietnam guides credit organizations, foreign bank branches in Vietnam to implement the provisions of this Decision.

4. Provincial People's Committees organize the implementation of this Decision within their authority, and annually report to the Ministry of Agriculture and Rural Development on the implementation of investment projects included in the green classification list in their locality.

5. Ministries, agencies at the level of ministries, government-affiliated agencies, provincial people's committees under central cities, and related agencies and organizations, based on their functions, tasks, and areas of state management assigned, have the responsibility to implement this Decision.

Article 10. Provisions on implementation

1. This Decision takes effect from August 22, 2025.

2. The Ministers, Heads of agencies at the level of ministries, Heads of government-affiliated agencies, Chairmen of provincial people's committees under central cities, and related agencies, organizations, and individuals are responsible for implementing this Decision./.