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Energy

Nike and H&M to Vietnam: More renewables, please

29 global fashion brands say green energy will boost No. 3 textile exporter

A wind park in Vietnam's Bac Lieu Province.   © Reuters

HO CHI MINH CITY -- Fashion brands including H&M and Nike are pressing Vietnam to move ahead with a renewable energy purchase program as companies come under increasing pressure to meet their sustainability goals, Nikkei Asia has learned.

A consortium of 29 brands sent a letter to Vietnamese Prime Minister Nguyen Xuan Phuc this month urging the country to introduce direct power purchase agreements (DPPA) between private buyers and sellers of renewable energy. Currently, energy users can only buy electricity through the national utility or through small-scale projects such as rooftop solar panels.

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