Vietnam persists with strong climate commitments at COP27

Minister of Natural Resources and Environment Tran Hong Ha, who is leading the Vietnamese delegation at the event, said Vietnam and other countries at the conference will strive to perfect mechanisms and policies to mobilise resources from developed nations for the implementation of the commitments.

Resources should therefore be allocated transparently and equally to developing and underdeveloped nations that are making great efforts to reduce greenhouse gas emissions and adapt to climate change, the Minister noted.

He highlighted energy transition as a solution to the impact of climate change, of which Vietnam has set out a specific roadmap to follow.   

The Vietnamese Government has issued a strategy relating to climate change and assigned specific tasks to ministries, agencies, and localities, Minister Ha added.

Vietnam is in the process of working hard to materialise the commitments using its internal resources, as well as support from the international community, especially through mechanisms of the COP26 agreement reached in the UK last year.

He noted that the Vietnamese delegation came to COP27 with three major tasks, one of which is to join other UNFCCC members as they seek ways to realise these commitments and mechanisms, along with raising new initiatives, mechanisms, and policies to conduct energy transition.

The second task will be to uphold the country’s pioneering role in energy transition, green transition, and digital transformation, with the third being to mobilise resources and learn from developed partners’ experience, as well as joining more initiatives, especially those on financial mobilisation and energy transition.  

Moving forward, the delegation is scheduled to carry out a range of bilateral activities with international organisations and businesses relating to energy transition, in addition to holding meetings with major financial institutions such as the World Bank.

He described COP27 as an opportunity in which the Vietnamese delegation can meet with leading international organisations and financial institutions to discuss financial mechanisms and policies, as well as assessing how to mobilise resources for Vietnam.

Within the framework of COP27, the country will continue to hold discussions with partners from the G7 relating to energy transition, as well as helping the country to utilise opportunities in preferential financing and technology transfer to fulfill its net-zero commitments.

According to details given by the Minister, the country is engaging in negotiations regarding issues in which the nation requires international support, such as financing and technical assistance to draft plans in energy transition and assess renewable energy potential. 

Minister Ha stressed that besides meeting domestic demand, renewable energy could help to turn the nation into an energy exporter in Southeast Asia, Asia, and the world in the time ahead.