Vietnam takes global climate action

18/12/2023

TN&MT

Accompanying the high-level Vietnamese delegation were Minister of the Ministry of Natural Resources and Environment, Đặng Quốc Khánh, and leaders of agencies under the Ministry of Natural Resources and Environment.

After five days of continuous and fruitful work, the mission achieved significant success, meeting all the set goals and tasks both on mutilateral and bilateral sides.

The success of this mission contributes to solidifying Vietnam's stature, role, position, reputation and image as a dynamic and powerful country after more than 35 years of innovation. Vietnam is resolute in fulfilling climate change commitments and actively participating in addressing global challenges. Additionally, it helps attract investments and mobilize greater resources for national development. The mission effectively conveys the significant messages outlined in Vietnam's viewpoints and policies on socio-economic development and international integration, as stated in the documents of the 13th National Party Congress.

Following the success of COP26 and COP27, COP28 is being held in Dubai, United Arab Emirates (UAE) from November 30, 2023, to December 12, 2023. The World Climate Action Summit takes place in the context of the severe global impact of climate change, with the climate system approaching critical thresholds, while significant gaps still exist between countries' commitments and actual actions. COP28 this year has become the largest COP conference in history, with the participation of nearly 140 heads of state, government leaders, and approximately 90,000 delegates.

The participation and contributions of the high-level Vietnamese delegation demonstrate Vietnam's responsibility and commitment in addressing one of the world's most significant global challenges today - climate change. At the conference, Vietnam also engaged in several new multilateral initiatives to explore opportunities for collaboration in energy transition and green growth.

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Prime Minister Phạm Minh Chính affirmed Vietnam's responsibility and commitment in addressing the world's most significant global challenge today -climate change.

\Prime Minister Phạm Minh Chính has delivered crucial speeches at various forums, conveying important messages to the international community. He emphasized the need to transform commitments from previous conferences into specific, swift, and resolute actions. The key, according to him, lies in turning words into deeds, ensuring that commitments are not only spoken but also implemented. This, he stressed, is essential for building trust among nations and breaking the deadlock in climate change negotiations.

The Prime Minister shared insights into Vietnam's actions, illustrating the country's strong determination. Vietnam has undertaken vigorous and effective measures, demonstrating not only verbal commitments but also certain actions to implement those commitments.

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Prime Minister Phạm Minh Chính delivered a speech at the announcement ceremony of the Plan to Mobilize Resources for Implementing the Joint Emission Trading Program (JETP).

An important highlight of COP28 was the announcement by the Prime Minister regarding the Plan to Mobilize Resources for the Implementation of Vietnam's Just Energy Transition Partnership (JETP) with international partners. This announcement garnered high interest and commitments of support from countries, international organizations and major corporations. The Prime Minister emphasized that energy transition is an objective requirement, a strategic benefit, and a top priority for all nations. However, it is crucial to ensure economic development goals, national energy security, and job creation for the people, avoiding shocks to the labor force.

The Prime Minister affirmed that a just energy transition is crucial for achieving Vietnam's strategic direction in national energy development, with the goal of achieving net-zero emissions by 2050 and sustainable development objectives centered around the well-being of the people. International cooperation and commitments from partners will be the key to achieving these goals.

During COP28, Prime Minister Phạm Minh Chính and the high-ranking Vietnamese delegation engaged in diverse, comprehensive, and effective activities. The Prime Minister maximized this opportunity to meet and interact with numerous leaders and representatives from various countries and international organizations. Through these engagements, he aimed to enhance cooperation on multiple fronts with other nations, contributing to addressing Vietnam's concerns and interests, and resolving existing challenges.

During these meetings, Vietnam's economic and social development achievements were highly praised by partners. The positive position, role, and proactive voice of Vietnam in international cooperation to address the climate crisis were recognized. The commitments and "actions speak louder than words" spirit of Vietnam were also appreciated by international partners.

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Especially, at the event announcing the Plan to Mobilize Resources for Implementing Vietnam's Just Energy Transition Partnership (JETP), international partners committed to mobilizing an initial $15.5 billion USD within the next 3 to 5 years to address urgent needs and catalyze Vietnam's just energy transition. Among these commitments, $7.75 billion USD is pledged by the International Partners Group (IPG) under more favorable loan conditions compared to the current capital market. The Glasgow Financial Alliance for Net Zero (GFANZ) committed to mobilize at least $7.75 billion USD in private finance to directly support businesses through investments by international corporations and enterprises. JETP is one of the solutions helping Vietnam access the necessary resources to efficiently implement a low-carbon development pathway, resilient to climate change, in the collective global effort towards energy transition. It also opens new economic opportunities to support Vietnam in achieving its green transition goal, aiming towards a net-zero emissions future.

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The partners have committed to mobilizing an initial $15.5 billion USD within the next 3 to 5 years.

The World Bank (WB) also plans to allocate a loan of $5-7 billion USD to Vietnam over the next 3 years for potential new-generation projects. These projects include promoting the development of renewable energy in Vietnam (REACH), a project to cultivate 1 million hectares of high-yield, low-emission rice, the high-speed railway project from Hanoi to Hoa Lac, and investments in climate change-adaptive infrastructure in the Mekong Delta, etc.

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The World Bank has agreed to expedite the progress of existing projects and promote large-scale strategic projects in Vietnam.

During the 28th Conference, Minister of Natural Resources and Environment Dang Quoc Khanh had a working session with Mariam Almheiri, Minister of Environment and Climate Change of the UAE, and signed a Memorandum of Understanding on cooperation in the field of environment and climate change. Regarding the signing of the Memorandum of Understanding, Minister Mariam Almheiri emphasized that it would serve as a foundation for the two ministries to implement collaborative activities in addressing climate change and addressing environmental pollution issues.

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Minister Đặng Quốc Khánh and Minister Mariam Almheiri

Minister of Natural Resources and Environment Đặng Quốc Khánh also had a meeting with Remy Rioux, the CEO of the French Development Agency (AFD). During the meeting, Remy Rioux committed to collaborating with the Ministry of Natural Resources and Environment to propose policies on the environment, climate, and water resources based on scientific foundations. CEO Remy Rioux stated that AFD is ready to support Vietnam in implementing projects aligned with common goals. Additionally, AFD pledged to cooperate in promoting financial investment for energy transition projects under the Just Energy Transition Partnership (JETP) after the Resource Mobilization Plan for JETP was announced at COP28.

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The Director-General of the French Development Agency, Remy Rioux, and the Minister of Natural Resources and Environment, Đặng Quốc Khánh

The success of Vietnam at COP28 once again reaffirms the country's commitment to working with the international community to address global issues, particularly in responding to climate change. The achievement today is the result of continuous efforts from strong historical commitments to the prompt issuance of legal frameworks and determined actions, demonstrating Vietnam's significant determination in the global fight against climate change. Over the past two years, Vietnam has gradually translated its commitments into reality and achieved success.

HISTORICAL COMMITMENTS

The COP27 conference, held in Egypt, is a continuation of the COP26 process aimed at realizing the commitments of national leaders and enhancing cooperation among parties to collectively promote global efforts to address the ongoing complex crises of climate and energy. Minister of Natural Resources and Environment Trần Hồng Hà led the delegation to the conference and, from the early days, conducted working sessions to drive the formation of the carbon market in Vietnam, implementing climate commitments and the country's energy transition process.

During the working sessions, Minister Trần Hồng Hà strongly reiterated the commitment to the "Net Zero" target by 2050 announced at COP26 and affirmed that Vietnam considers green and energy transition issues as consistent policies and the chosen economic model. In addition, the Vietnamese delegation participated in various initiatives, especially those related to mobilizing financial resources and the energy transition process.

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Especially, Vietnam has submitted its second updated NDC, emphasizing specific actions to be taken from now until 2030 in line with the roadmap to achieve net-zero emissions and a commitment to reduce 30% of methane emissions. It also outlines the target to reduce 43.5% of total greenhouse gas emissions by 2030 with international support, surpassing the previous NDC in 2020 (27%). This reaffirms Vietnam as a committed and pioneering country in energy transition, along with green and digital transformation, as a consistent policy and the chosen economic model for the nation.

FINALIZE THE LEGAL FRAMEWORK

Following COP26, Vietnam promptly translated its commitments into specific actions and began implementing them before the international community. The government established a National Steering Committee to implement Vietnam's commitments at COP26, with the Prime Minister serving as the Head of the Committee and members including leaders from various ministries and sectors. The Committee issued its operating regulations.

Vietnam has formulated a National Strategy for Green Growth for the period 2021-2030, with a vision to 2050, outlining goals to position Vietnam at the forefront, catch up, advance together, surpass, and aspire to prosperity in the economy, environmental sustainability and social equity. This strategy aims to promote green economic development, achieve long-term low carbon emissions, work towards carbon neutrality, and contribute to global efforts to limit temperature rise. It provides significant opportunities for Vietnam to lead the region in green growth and make substantial contributions to the world's common goals.

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Prime Minister Phạm Minh Chính chaired a meeting of the National Steering Committee to implement Vietnam's commitments at COP26.

Vietnam has also adopted the National Strategy on Climate Change for the period up to 2050; the Action Plan to reduce methane emissions by 2030; Action Plans of various sectors to implement Vietnam's commitments at COP26.

The Ministry of Natural Resources and Environment, as the standing agency of the Steering Committee, has diligently carried out its tasks and achieved several significant results. Specifically, it proposed to the Government the issuance of the Project on tasks and solutions for implementing the results of COP26; the National Strategy on Climate Change for the period up to 2050; completion and publication of the Report on the potential of offshore wind and wave energy in maritime areas for the development of renewable energy, offshore wind projects; completion of the proposal to the Government to amend, supplement some articles of Decree No. 40/2016/ND-CP and Decree No. 11/2021/ND-CP on the allocation of sea areas for organizations and individuals to exploit, use marine resources.

The Ministry of Natural Resources and Environment has developed and submitted to the Government for approval Decree No. 06/2022/ND-CP, which regulates the reduction of greenhouse gas emissions and the protection of the ozone layer; Decree No. 08/2022/ND-CP detailing some articles of the Environmental Protection Law; proposed to the Prime Minister for approval Decision No. 01/2022/QD-TTg on issuing a list of fields and facilities emitting greenhouse gases that must undergo greenhouse gas inventory and considering issuing a list of national green classifications as a basis for classifying projects prioritizing green credit and issuing green bonds, etc.

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Minister of Natural Resources and Environment Đặng Quốc Khánh chaired the first meeting of the Secretariat to implement the Political Declaration establishing a just energy transition partnership (JETP).

The ministry also issued Circular No. 17/2022/TT-BTNMT regulating the technical aspects of measurement, reporting, and verification of greenhouse gas emissions reduction and greenhouse gas inventory in the waste management sector. Additionally, it conducted a study to assess the impact of the Carbon Border Adjustment Mechanism (CBAM) on socio-economic activities to ensure that Vietnam fulfills its commitments to greenhouse gas emissions reduction on the international stage. The ministry provided guidance on implementing the Nationally Determined Contributions (NDC) for the year 2022, specifying reduction targets for each sector and adaptation measures to climate change.

In 2023, the Ministry of Natural Resources and Environment chaired and coordinated with relevant ministries to develop and implement the JETP Project, which was approved by the Prime Minister through Decision No. 1009/QD-TTg on August 31, 2023. The project aims to successfully implement the JETP Declaration, promoting the development of renewable energy, and promoting the use of energy efficiently. The project sets specific targets for 2030 and beyond, outlining 10 focal task groups.

The ministry collaborated with the Ministry of Finance to refine the Carbon Market Development Plan in Vietnam and foster cooperation with international and regional financial institutions and private enterprises to mobilize support for COP26 commitments, bilateral and multilateral cooperation programs, and support for the development of low-emission technologies within the business sector.

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Vietnam negotiated and endorsed the Political Declaration to establish the Just Energy Transition Partnership (JETP) with the International Partners Group (IPG).

One of the most significant milestones for Vietnam in the climate change journey and fulfilling commitments to reduce greenhouse gas emissions is the negotiation and adoption of the Joint Crediting Mechanism (JCM) Political Statement establishing the Just Energy Transition Partnership (JETP) in collaboration with the International Partners Group (IPG), which includes Canada, France, Germany, Italy, Japan, the United Kingdom, the United States, the European Union, Denmark, and Norway.

Vietnam is among the first three developing countries in the world to join JETP. This initiative allows Vietnam to access the necessary resources for the effective implementation of a low-carbon development pathway, enhancing resilience to climate change in the global effort to transition to clean energy. It also creates new economic opportunities to support Vietnam in achieving its green transformation goal, moving towards a future with net-zero emissions.

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Deputy Prime Minister Trần Hồng Hà attended the Ministerial Conference on "Net Zero Emissions Community in Asia."

In March 2023, Deputy Prime Minister Trần Hồng Hà led the Vietnamese delegation to the Ministerial Conference on "Net Zero Emissions Community in Asia." Deputy Prime Minister Trần Hồng Hà proposed several important initiatives, emphasizing the need for cooperation and the establishment of specific mechanisms: a regional carbon credit market; a research and technology transfer center as the "key" to reducing emissions while ensuring energy security and providing affordable access to clean energy for the state, people and businesses; the establishment of a research funding pool; a high-quality human resources training center, etc. The countries reached a consensus and adopted a Joint Statement on the "Net Zero Emissions Community in Asia," outlining cooperative directions for the future in the comprehensive, fair, sustainable energy transition, ensuring regional affordability.

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Deputy Prime Minister Trần Hồng Hà emphasized that renewable energy is the key that enables countries, especially those lagging behind like Vietnam, to accelerate rapid, sustainable development.

In June 2023, Deputy Prime Minister Trần Hồng Hà led the Vietnamese delegation to participate in the Global New Financial Accord Summit in Paris, France. This continued the strong and consistent commitment to addressing climate change, demonstrating Vietnam's responsibility to collaborate with the international community in solving global challenges. The conference involved the participation of over 100 leaders from various countries and international organizations, along with a large number of representatives from the private sector and businesses. During the conference, Deputy Prime Minister Trần Hồng Hà had several bilateral and multilateral meetings, consistently emphasizing Vietnam's efforts to mobilize financial resources from both the public and private sectors to achieve significant goals in energy transition, providing new impetus for economic growth.

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The Minister of Natural Resources and Environment, Đặng Quốc Khánh, delivered a speech at the P4G Conference.

In September 2023, on behalf of the Government of Vietnam, Minister of Natural Resources and Environment Đặng Quốc Khánh attended the P4G Summit with the theme "Partnerships for Sustainability." This event is crucial for global leaders, policymakers, international organizations, financial institutions, investors, and businesses to discuss solutions to promote the green transition towards building a fair society, carbon neutrality and resilience to climate change impacts. Vietnam is a founding member of P4G and the Global Green Growth Forum (3GF), the precursor to P4G. Therefore, Vietnam has actively and responsibly participated in coordinating closely with members to advance the forum's resolutions, vision and mission as a unique public-private global green growth platform, aiming to achieve global sustainable development goals, green transformation, and climate change adaptation.

In addition to active participation in international cooperation, domestically, Vietnam has organized many important forums and conferences with the goal of achieving NetZero by the mid-century. Some notable events include:

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In August 2023, Deputy Prime Minister Trần Hồng Hà attended the Vietnam Sustainable Development Business Forum (VCSF) 2023 with the theme "Global Green Race: From Sustainable Business Strategy to Practice." "Committing to achieve Net Zero by 2050 is a significant challenge for a developing country like Vietnam. However, this is the opportune moment and chance for us to collectively act to fulfill global goals. It is also a great opportunity to restructure the economy, shift to a growth model based on knowledge, digital transformation, green conversion, high-quality human resources, science, and technology. This will lead our country along the 'green path' to high income by 2045."

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Deputy Prime Minister Trần Hồng Hà and Minister of Natural Resources and Environment Đặng Quốc Khánh visited the exhibition booth at the Circular Economy Forum in 2023.

The circular economy is considered a "green solution" for sustainable economic development. Recently, on November 16, 2023, the Ministry of Natural Resources and Environment successfully organized the Circular Economy Forum 2023 with the theme: "Building a National Action Plan for Circular Economy Implementation." The circular economy is defined as an economic model that aims to use resources efficiently, save resources, recycle waste, contribute to environmental protection and achieve economic efficiency. The Ministry of Natural Resources and Environment has drafted the National Action Plan for Circular Economy with five main principles, general objectives, and specific goals from now until 2025 and 2030 to promote the transition to a sustainable economic model, turning waste into resources, neutralizing carbon, and achieving net-zero emissions by 2050.

The Ministry of Natural Resources and Environment has also engaged in various bilateral meetings and discussions on climate change cooperation. Notable events include the signing of a Memorandum of Understanding between the Minister of Natural Resources and Environment of Vietnam and the Minister of Trade, Industry, and Energy of South Korea to implement Article 6 of the Paris Agreement in the presence of President Võ Văn Thưởng and President Yoon Suk Yeol; meetings with the Minister of Manpower and Senior Minister of State for Trade and Industry of Singapore to promote cooperation on renewable energy development and the implementation of climate commitments; discussions with the Senior Advisor of the Southeast Asia Program at the Ash Center for Democratic Governance and Innovation, Harvard Kennedy School, USA, on addressing climate change and implementing Vietnam's commitments at COP26 and current environmental protection issues; and meetings with European Ambassadors to Vietnam on energy transition and greenhouse gas reduction efforts.

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The Vietnamese delegation has excellently achieved its goals at the World Climate Action Summit. Vietnam has been mentioned multiple times as a successful model that should be replicated for coping with climate change. The delegation's performance reflects the stature, role and position of the country after more than 35 years of renewal. The Vietnamese delegation has emphasized to international friends its responsibility and commitment to addressing one of the biggest global challenges today, which is climate change. Many countries have affirmed their support and partnership with Vietnam in energy transition, enhancing adaptive capacity, thereby contributing to promoting Vietnam's green growth and protecting the common planet.

Tu Quyen

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