ADB pledges to help Vietnam realise climate action
VOV.VN - The Asian Development Bank (ADB) will assist Vietnam to meet its net zero emissions commitment by 2050 through implementing a number of projects in the coming years.
The regional financial institution will support Vietnam in implementing 3 - 10 projects within the framework of the Just Energy Transition Partnership (JETP) and a plan to mobilize resources for the JETP implementation.
ADB Vietnam director Shantanu Chakraborty made the commitment during his meeting with Deputy Minister of natural Resources and Environment Le Cong Thanh in Hanoi on March 8.
Chakraborty said during the past 30 years, the ADB has actively supported Vietnam in addressing many issues, especially climate change response. He expressed the bank’s desire to promote the signing of a cooperation agreement or Memorandum of Understanding on cooperation in climate change response with the Ministry of Natural Resources and Environment.
The document will highlight the bank’s commitment to supporting the country in solving the current climate crisis, said the ADB country director.
Deputy Minister Thanh for his part highly appreciated the ADB’s assistance and cooperation over the past years and expected to receive additional assistance from the bank in implementing pilot projects, helping to promote the JETP implementation.
The Ministry of Natural Resources and Environment is reviewing and amending a Government decree regulating greenhouse gas emissions mitigation and ozone layer protection, focusing on the organization and development of the carbon market.
Thanh proposed that the ADB continue to share experience and expertise, assist Vietnam to build and manage a carbon credit trading floor, and support connection of domestic and international carbon markets.
