Vietnam expects international assistance to accelerate energy transition

Prime Minister Pham Minh Chinh made the request at a reception in Hanoi on August 29 for Alok Sharma, British Cabinet minister and president of the 26th United Nations Climate Change Conference (COP26), who is in Hanoi for a working visit to Vietnam.

He said the government has approved a National Strategy on Climate Change for 2050, an action plan to reduce methane emissions at least 30% by 2030, a green energy transition roadmap, an action plan for national green growth between 2021 and 2030 and many other important documents.

Vietnam considers the goal of achieving ‘zero net’ emissions and switching from fossil fuels to clean and renewable energy as an inevitable development trend of the world and Vietnam in particular, stressed the PM.

To do this, Vietnam, in addition to its efforts, needs financial assistance and technology transfer from development partner donors during negotiations on a Just Energy Transition Partnership (JETP), he said.

According to the PM, Vietnam is one of the countries heavily impacted by climate change, therefore energy transition and climate change adaptation are of great concern of the Party and State.

This process needs to be done in a fair and just manner, so that not only businesses investing in Vietnam benefit but Vietnamese people also enjoy a prosperous and happy life, he stated.

The PM assured his guest that Vietnam would accelerate the negotiation process to establish a Just Energy Transition Partnership with partners, including countries in the Group of Seven. He also affirmed that the Government would continue to consider a roadmap to reduce coal-fired power in accordance with local conditions with the support of international partners.

For his part, COP26 President Alok Sharma appreciated Vietnam’s commitments and said he would convey the Prime Minister’s request to development partners and hoped a political declaration on the establishment of a Just Energy Transition Partnership would be adopted at COP27 to be held in Egypt later this year.

Alok Sharma returned to Vietnam for a working visit from August 27-30 to drive forward discussions on a Just Energy Transition Partnership and to examine the impact of climate change locally.

According to the British Embassy in Hanoi, the Vietnam Just Energy Transition Partnership will be a long term political agreement between the Government of Vietnam and an International Partner Group (IPG) of countries, comprising the United Kingdom, European Union, France, Germany, Japan, and the United States of America.

This country-led partnership will support Vietnam to accelerate its transition away from coal as part of the country's commitment to its 2050 net zero target and its ambitious Power Development Plan (PDP8).

The Partnership will be underpinned by clear plans to deliver a just energy transition and catalyse clean energy investment, offering Vietnam the opportunity to become a world leader in renewable energy.

During his visit, the COP26 President is also meeting with G7 and development partner donors, as well as businesses and private sector stakeholders, to help drive public and private sector engagement and mobilisation of finance as part of the process.