Greater effort needed to bridge gap between climate commitment and action

The PM warned that the global climate system is moving closer to the red line, with ice melting faster than ever; rising sea levels, droughts, floods, landslides, and forest fires becoming more devastating; and many territories and communities bracing for severe flooding. In addition to food security and energy security being threatened, issues such as population aging and resource depletion are challenging the globe.

He noted that after 14 years the world has yet to meet the commitment of mobilizing US$100 billion per year for climate change actions. He urged stakeholders to realize their commitment as the key to strengthening trust between countries and breaking the deadlock in negotiations on climate change.

The PM called for a new, practical and globally unified approach to climate change response, by making full use of domestic and foreign resources and other legal resources, including resources from the private sector.

According to the PM, developed countries should increase further support for developing and underdeveloped countries, in terms of preferential capital, advanced technology transfer, high-quality human resource training, smart governance, and the perfection of market institutions. Meanwhile, developing and underdeveloped countries should also make a greater effort in improving the capacity to stand firm on their own.

However, he emphasized the necessity of ensuring fairness and justice in combating climate change, meaning it is necessary to ensure national energy autonomy and energy security, and access to clean energy at an appropriate and effective cost for all businesses, people and each country.

After delivering the net zero emissions commitment by 2050 at the COP26 conference in Glasgow, Scotland, the PM said Vietnam has taken specific steps towards meeting its goal. The country has adopted the national climate change strategy, the national green growth strategy and the national power development plan VIII toward using renewable energy as the mainstream.

Vietnam has also developed the renewable energy ecosystem, implemented the National Determined Contribution (NDC), announced the Resource Mobilization Plan for Just Energy Transition Partnership (JETP) implementation, and passed a project to develop a million hectares of high-quality and low-carbon rice.

Furthermore, it has been completing institutions, including formulating bills on petroleum, land and electricity in support of renewable energy development. It is completing regulations on direct power purchase, and handling renewable energy projects related problems during the energy transition process.

The PM reminded that time is running out, and a greater effort is needed globally to overcome challenges and achieve objectives, for prosperity and happiness of all people in the world.