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Vietnam calls for int’l support to realise energy commitment at COP26

Vietnam needs considerable international support in terms of concessional capital to take measures for concurrently ensuring national energy security and achieving net zero emissions by 2050, said Minister of Industry and Trade Nguyen Hong Dien.
Vietnam calls for int’l support to realise energy commitment at COP26 ảnh 1Wind turbines in Thuan Bac district, Ninh Thuan province (Photo: VNA)
Hanoi (VNA)– Vietnam needs considerable international support in terms of concessionalcapital to take measures for concurrently ensuring national energy security andachieving net zero emissions by 2050, said Minister of Industry and TradeNguyen Hong Dien.

The official made theremark during a meeting on February 14 with British Minister Alok Kumar Sharma,President for the 26th United Nations Climate Change Conference (COP26),who is on a working visit to Vietnam.

Dien noted right after theCOP26 in the UK last November, under the Prime Minister’s directions, theMinistry of Industry and Trade (MoIT) has been working to update the draft PowerDevelopment Plan VIII in a way that continues reducing coal-fired powergeneration and strongly developing gas-fired power generation, especially the liquefiednatural gas (LNG)-fired one, so as to guarantee energy security and increasethe capacity of using electricity from renewable energy sources.

Headded it is also moving to promote the power created by renewable energy,especially wind and solar power, and balance power generation sources amongregions.

Sharma recognised Vietnam’s efforts indrafting Power Development Plan VIII and success in developing renewable energyas seen in the impressive growth of solar and wind power.

He called on the MoITto support renewable energy projects, including the Thang Long offshore windpower project of Enterprize Energy.

Regardingthe high financial demand to carry out Power Development PlanVIII towards net zero emissions by 2050, the COP26 President suggested fundingbe mobilised from public and private sources to invest in green infrastructureprojects so as to realise the commitment made at the UN conference.

MinisterDien asked the COP26 leader to help electricity businesses of Vietnam to accessBritish and international financial sources.

Vietnam also wishes to receivetechnical assistance from developed countries to make plans on reducing thedevelopment of coal-fired power plants, control greenhouse gas emissions in theindustry and trade sector, improve the country’s capacity for implementing carbonevaluation mechanisms under the Paris Agreement on climate change, and enhance its capacity to carry out a competitive electricity retail market, accordingto the host official./.
VNA
#net zero emissions #energy security #COP26 #climate change #Alok Kumar Sharma #Ministry of Industry and Trade #Nguyen Hong Dien #renewable energy #greenhouse gas emissions #updated Vietnam news #Vietnamplus #Vietnam News Agency
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