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Policies to support climate change response from July 1, 2024

From 1 July 2024, a number of new policies will be implemented to support climate change response, helping countries and communities increase their resilience and mitigate negative impacts. These policies include measures to encourage the use of renewable energy, protect forests, improve flood protection infrastructure, and support sustainable agriculture. This article will introduce the new support policies in detail and analyze their impacts on sustainable development and environmental protection.

1. Climate change

Climate change is the change of the climate system including atmosphere, hydrosphere, biosphere, lithosphere, cryosphere now and in the future due to natural and man-made causes in a certain period of time measured in decades or millions of years. Or in other words, climate change is the change of temperature and weather patterns over a long period of time.

Climate change has many negative consequences and impacts on the environment, economy and society globally.

2. Policies to support climate change response from July 1, 2024

2.1. Policy on access to capital and insurance

Pursuant to Point c, Clause 1, Article 23 of the Law on Cooperatives 2023, cooperative groups, cooperatives, and cooperative unions are entitled to specific capital access policies, namely priority access to capital from funds for science and technology development, environmental protection, climate change adaptation, and financial institutions as prescribed by law for the purpose of sustainable development.

2.2. Investment policy for infrastructure and equipment development

According to Clause 1, Article 26 of the Law on Cooperatives 2023, the policy supports investment in developing infrastructure and equipment for cooperative groups, cooperatives, and cooperative unions to serve production, business, social security, environmental protection, and climate change adaptation activities.

2.3. Support policies for activities in the agricultural sector

Pursuant to Point b, Clause 1, Article 28 of the Law on Cooperatives 2023, cooperative groups, cooperatives, and cooperative unions operating in the agricultural sector are also entitled to policies supporting capital, seeds, science and technology when cooperative groups, cooperatives, and cooperative unions convert to sustainable production, organic agriculture, and adaptation to climate change.