Workshop addresses funding needed to implement Paris Agreement

To ensure the agreement is properly implemented, it is necessary to collect documents, information, research findings and climate change response efforts in all fields and from groups affected by climate change, said Deputy Minister Nguyen Tuan Nhan of the Ministry.

The Paris Agreement, adopted in December 2015, is the first legal document that contractually outlines each country’s responsibility and commitments, through nationally determined contributions, to cope with global climate change.

Each country is expected to submit updated NDCs every five years aimed at keeping the global temperature rise well below 2 degrees Celsius by the end of this century and achieve net zero emissions during the latter half of the century.

Budget shortage

UNDP Country Director for Vietnam, Louise Chamberlain, said many localities in Vietnam have been implementing the government’s Green Growth Strategy well. However, their budget is not sufficient to meet all the Paris Agreement and NDC-related demands.

The issue of funding the implantation of the Paris Agreement is of paramount importance and one that will require governmental policies to encourage private sector involvement if it is to have any chance of success, noted Mr Chamberlain.