Illustrative image (Photo: VNA) London (VNA) – Jack Richardson, ClimateProgrammes Coordinator at the Conservative Environment Network, has noted hishope for big investment and cooperation between G7 countries, Vietnam and otherpartners of the Just Energy Transition Partnership (JETP).
Vietnam and the International Partners Group,consisting of the European Union, the UK, the US, Japan, Germany, France, Italy,Canada, Denmark and Norway, were resolved on December 14 to establish the JETP as a long-term, ambitious partnership tosupport Vietnam’s low-emission and climate resilient development, as well as tohelp the country accelerate the just transition and decarbonisation of theelectricity system, and develop new economic opportunities to support Vietnam'stransition towards net zero future.
They will mobilise an initial amount of at least15.5 billion USD over the next three to five years through a combination ofappropriate financial instruments, which should not divert critical developmentassistance away from existing development funding to support the needs ofVietnam's just energy transition in accordance with the national framework ofpublic debt and external debt management.
Richardson suggested JETP focus on climate changeresponse through economic growth and prosperity, while shifting to cleaner,cheaper, and safer energy, especially renewable energy.
He also proposed the UK tighten its cooperation withVietnam in raw material production necessary to clean energy transition suchas rare earth, noting that the Southeast Asian nation has resources that othercountries need.
In the next 12 months, with the support from partner countries,Vietnam will build and adopt the JETP Resource Mobilisation Plan./.
