The Vietnamese partnership will receive $100,000 in funding to develop a cloud-based materials trading system that directs Vietnam’s booming manufacturing industries towards the circular economy.
Vietnam is one of the fastest growing economies in Asia, hosting a thriving manufacturing economy and serving as a hub for much of the world’s material flows. However, the amount of materials deposited in Vietnam’s landfills pose a significant health and environmental challenge.
The Pathway21 Materials Marketplace will help manufacturers reduce both waste disposal and excessive production through an online, cloud-based marketplace where manufacturers can buy, sell or trade materials and equipment suitable for further or alternative use.
This model will move industrial waste up the value chain into its highest and best use, reducing environmental impact and using circular economy principles to grow Vietnam’s economy in a sustainable and resilient way.
Vietnam Materials Marketplace will utilize its public-private partnership with the Vietnam Chamber of Commerce and Industry (VCCI) and the United States Business Council for Sustainable Development to use proven models from other industry hubs around the world to increase efficiencies, reduce costs and enhance quality of life in Vietnam.
Each of the eleven selected public-private partnerships will receive $100,000 in funding to advance their project to support green growth and the Sustainable Development Goals (SDGs) in a range of developing countries.
Launched earlier this year, P4G is emerging as a leading global forum for identifying and incubating innovative public-private partnerships for accelerating sustainable development. P4G, funded by the Danish government and hosted at World Resources Institute, is leveraging the power of partnerships in pursuit of new business and finance models that also implement the Sustainable Development Goals.
P4G partnerships focus on five key areas: food and agriculture, water, energy, cities and the circular economy.
“These partnerships have innovative business solutions and the potential to bring about systemic change that can address many of the important environmental and sustainability issues the world faces,” said P4G Global Director, Ian de Cruz.