Vietnam posted important results in 2023 regarding its commitment to “green action” that were highly regarded by the international community. (Source: Vietnam+) Hanoi (VNA) - In an interview granted to Vietnamplus, the e-newspaper of the Vietnam News Agency, Director of the Department of Climate Change at the Ministry of Natural Resources and Environment Tang The Cuong emphasised that, in 2023, Vietnam recorded many crucial achievements in its commitment to “green action” that were recognised by the international community.
For example, Prime Minister Pham Minh Chinh announced Vietnam’s Resource Mobilisation Plan to implement the Just Energy Transition Partnership (JETP) at the 28th session of the Conference of the Parties (COP28) with the International Partners Group (IPG).
The session marked one year since Vietnam and the IPG adopted the JETP Political Declaration in December 2022.
Though Vietnam was the third country to sign a JETP, after Indonesia and South Africa, it was the first to announce a resource mobilization plan to implement the programme.
This proactive move is considered a key prerequisite and a pivotal milestone in unlocking financial support from the JETP, thus accelerating Vietnam’s just energy transition.
Prime Minister Pham Minh Chinh speaks at the World Climate Action Summit. (Photo: Duong Giang/VNA) With the goal of achieving net-zero emissions by 2050 and aligning with sustainable development goals, Prime Minister Pham Minh Chinh urged involved parties to promptly reach an agreement on converting the pledged support of 15.5 billion USD into projects that will expedite Vietnam’s industrial energy transformation.
In return, the Vietnamese Government pledged to create optimal conditions, from infrastructure to administrative reform, to facilitate business operations in Vietnam.
The JETP implementation mobilisation plan was built on Vietnam’s Nationally Determined Contribution (NDC), National Electricity Development Plan, National Energy Master Plan in 2021-2030 with a vision to 2050, the JETP Political Declaration, and proposals from domestic and international partners.
It encompasses five key investment project groups aimed at promoting the conversion of coal power to clean energy, developing ecosystems for renewable energy in industrial and service sectors, optimizing energy usage, upgrading power transmission and distribution systems, advancing smart power grids and energy storage systems, and transforming the transportation industry to reduce greenhouse gas emissions.
Vietnam is striving to promote biodiversity. (Photo: Hung Vo, VNA) According to the Ministry of Industry and Trade, Vietnam has witnessed a robust increase in energy demand, with primary demand growing at a rate of 6% annually during the 2010-2019 period.
Looking ahead, the next five years are projected to see estimated average annual growth of 8.5% in demand. However, the 2020-2025 period poses numerous challenges and difficulties for electricity supply, particularly in the face of extreme weather events.
In light of these circumstances, adopting energy-efficient practices presents a pragmatic solution to enhancing economic efficiency, preserving national energy resources, safeguarding the environment, and mitigating greenhouse gas emissions./.
