What Vietnam and Denmark can take away from COP28?

The 28th UN Climate Change Conference (COP28) in Egypt from November 30 to December 12, 2023 is the most important climate change conference since the adoption of the 1995 Paris Agreement. According to the Intergovernmental Panel on Climate Change (IPCC), it is imperative that global emissions reach net-zero in 2050 and subsequently become net-negative if we are to keep the Paris Agreement’s goal of limiting the rise in temperature to 1.5 degrees alive. However, there is still a substantial emission gap between the current national mitigation plans and a plausible pathway to 1.5 degrees.

Both Vietnam and Denmark have set ambitious emission reduction targets. At COP26, Vietnamese Prime Minister Pham Minh Chinh made a commitment to achieve net-zero emissions by 2050, which sent a clear signal to the world regarding Vietnam’s direction and determination towards low-carbon and sustainable development. Denmark aims at reducing emissions by 70% in 2030, 100% by 2045 and 110% - so to become a net negative emitter – by 2050.

Vietnam is one of the most vulnerable countries to climate change with a high dependence on fossil fuels and an increasingly energy-hungry booming industry, with strong export orientation. Being one of the fastest growing economies in Asia and increasingly faced with demands for green energy by foreign investors seeking to establish production in Vietnam, Vietnam is an important partner in the global fight against climate change.

At COP28, Denmark announced a total of US$50 million of support to the most climate-vulnerable countries. Half of the committed will be allocated to the new loss and damage fund that was decided on the first day of COP28. Denmark will also launch the alliance Group of Negative Emitters (GONE) aimed at initiating a race to the top among countries to determine ambitious goals of mitigation.

Meeting with each other at COP 28 in Dubai, both Prime Minister Pham Minh Chinh of Vietnam and Prime Minister Mette Frederiksen of Denmark praised the long and fruitful cooperation between Vietnam and Denmark, especially in the area of climate change and in the energy transition. In light of the Green Strategic Partnership between Denmark and Vietnam established on November 1, both leaders agreed to instruct relevant agencies to take concerted measures to further deepen the bilateral relationship.

On the occasion of Vietnam’s launch of the Resource Mobilization Plan for the Just Energy Transition partnership (JETP), of which Denmark is a member alongside the G7 countries, the European Union and Norway, Prime Minister Mette Frederiksen said: “Congratulations to Prime Minister Chính and the government of Vietnam on today’s important step towards implementing the Just Energy Transition Partnership. At this critical moment in Vietnam’s transition, Denmark and IPG stand ready to support Vietnam to get on track to deliver on its ambitious Net Zero 2050 goal. Denmark has more than 40 years of experience with green transition and we have shown that the green transition can be a driver for jobs and green economic growth. We are committed to sharing our experiences and knowhow to support Vietnam’s just energy transition.”

Nicolai Prytz, ambassador of Denmark in Vietnam also added, “At COP 28, Denmark is pushing for an agreement on a global phase out of fossil fuels and global targets for massively scaling up renewable energy and improving energy efficiency. In Vietnam, we are supporting such ambitious targets through our joint Energy Partnership program between Vietnam and Denmark. The program, which has been running for 10 years, aims to provide Vietnamese government agencies with the tools and knowledge to develop policies and plans for the energy transition, as well as support the implementation of these. The recently launched Green Strategic Partnership has opened an even greater opportunity for Vietnam and Denmark to further strengthen our long term cooperation on green transition and low carbon economy in various strategic sectors of the economy.”

Results and experiences from the joint Energy Partnership Program between Vietnam and Denmark (DEPP)will also be shared at the Vietnamese Pavilion, where directors for Global Cooperation of the Danish Energy Agency will deliver presentations on “Danish Green Transition experience and key learning from the Energy Partnership with Vietnam” and “How Denmark tracks emissions and emissions of the Vietnamese energy sector based on the Energy Outlook Report work”.  

Vietnam - Denmark cooperation on green growth

Since the establishment of diplomatic relations in 1971, Vietnam and Denmark have enjoyed a strong and close cooperation.

In 2013, Vietnam and Denmark entered a long-term cooperation agreement with the purpose of promoting a transition in Vietnam to a low-carbon economy. Efforts to this end are financed by Denmark and administered by the Danish Energy Agency.

The Danish Energy Agency cooperates with the Ministry of Industry and Trade (MOIT) in Vietnam through the joint Energy Partnership Program between Vietnam and Denmark (DEPP). The program focuses on energy efficiency in the industrial sector, integration of renewable energy into the power grid, and long-term scenario modelling of the energy sector. The current third phase (2021-2025) also includes a component on offshore wind.

On November 1st 2023, the two Prime Ministers jointly declared the establishment of a Green Strategic Partnership (GSP) between Viet Nam and Denmark.

The signing of this GSP has marked a milestone in the two countries’ cooperative relations as well as established a solid framework for supporting Vietnam to develop a climate-resilient and low-carbon economy and promote the development of the circular economy. 

The GSP will build on and consolidates the existing cooperation in Climate, Environment and Energy, Food and Agriculture, Trade and Business Collaboration, Health and Life Science, Statistics, and other initiatives of mutual interests.