Japan, US, Australia to assist Vietnam in decarbonisation

Government-backed financial institutions from Japan, the US, and Australia have pledged to support Vietnam's efforts to cut carbon emissions, according to the chairman of the Japan Bank for International Cooperation (JBIC).
Japan, US, Australia to assist Vietnam in decarbonisation ảnh 1Illustrative image (Photo: VNA)
Tokyo (VNA) - Government-backedfinancial institutions from Japan, the US, and Australia have pledged tosupport Vietnam's efforts to cut carbon emissions, according to the chairman ofthe Japan Bank for International Cooperation (JBIC).

JBIC Chairman TadashiMaeda revealed the plan at an Indo-Pacificbusiness forum in Tokyo on January 12, NHK reported.

JBIC, together with the US International DevelopmentFinance Corporation, and Export Finance Australia, will launch a new frameworkfor support.

In consultation with the Vietnamese Government, they will help theSoutheast Asian nation switch to thermal plants fueled by liquefied natural gasand expand the use of renewable energy.

They also aim to create business opportunities by introducingtechnologies for decarbonisation.

Vietnam has set a goal of achieving net-zero emissions by 2050. However,it faces the difficult challenge of maintaining economic growth while reducingits reliance on coal for power generation, according to NHK./.
VNA

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