Sumitomo Corporation pursues carbon neutrality at Vietnam project under AZEC platform

In December 2023, Japanese Prime Minister Fumio Kishida chaired an AZEC leadership meeting with the participation of Vietnamese Prime Minister Pham Minh Chinh, and emphasised the importance of achieving the common goal of "net-zero emissions through various pathways" as well as a triple breakthrough to simultaneously achieve "decarbonisation, economic growth, and energy security".

Prime Minister Kishida noted Japan's efforts in developing and introducing next-generation GX (Green Transformation) technology, and expressed willingness to share Japan's technology and expertise via the AZEC platform, which includes policy coordination through the Asia Zero Emission Centre, the establishment of green supply chains through joint efforts such as the building of zero-emission industrial parks, and commercial collaboration among businesses.

According to information released during the conference, Vietnam is Japan's first partner in the AZEC effort.

Sumitomo Corporation, one of the largest enterprises in the world, has undertaken strategic adjustments towards being carbon-neutral by 2050 through the development of innovative technologies and business models to build a sustainable energy cycle by lowering CO2 emissions and attaining net-zero emissions for the entire society.

Sumitomo Corporation's efforts have received attention and support from the Japanese government. On April 24, in Tokyo, Hajime Wakuda, deputy commissioner for International Affairs, Agency for Natural Resources and Energy under the Ministry of Economy, Trade, and Industry, had a meeting with Sumitomo Corporation and strategic partner BRG Group about their aspirations to develop North Hanoi Smart City as the first carbon-neutral urban area in Vietnam and the world.

At the conference, leaders of Sumitomo Corporation and BRG Group expressed their wish for Japan's active engagement in order for the North Hanoi Smart City to accomplish this goal, becoming a typical example of Hanoi and the rest of Vietnam in developing an increasingly sustainable environment. This would also contribute to the early completion of the Vietnamese government's commitment made at COP26 to achieve net-zero emissions by 2050, as well as the national action plan to respond to climate change for 2021-2030.

In addition, Sumitomo Corporation is planning to transition towards carbon neutrality in the linking Thang Long Industrial Park and the North Hanoi Smart City project using energy-saving technologies such as heat pumps. This will require the modern technologies, expertise, and experience of Japanese partner industries to create renewable energy through solar and biomass power generation, as well as working and trading with one another to develop a smart and sustainable metropolitan environment, with the objective of being Vietnam's and the world's first carbon-neutral city.

Japanese government agencies have held meetings with leaders of a consortium between Vietnam's BRG Group and Japan's Sumitomo Corporation to push progress on the North Hanoi Smart City project.

On November 11 in Dong Anh district, Hanoi, the North Hanoi Smart City Development Investment (NHSC) company, a consortium between Vietnam's BRG Group and Japan's Sumitomo Corporation, announced the official implementation of the North Hanoi Smart City, a symbolic project to celebrate 50 years of Vietnam-Japan diplomatic ties (1973–2023).

For the second consecutive year, Hanoi has been included in the list of the top 100 smartest cities in the world.