The United States and Vietnam are determined to accelerate the energy transition and enhance cooperation in climate change adaptation.
The information was stressed at the visit of the Special Presidential Envoy for Climate John Kerry to Ho Chi Minh City, Ben Tre province, and Hanoi from September 2-6.
The visit aimed at seeing first-hand the climate impacts in the Mekong Delta and discussing bilateral climate talks with the Vietnamese government, building on conversations that started in 2013 regarding Vietnam’s energy transition.
|Ho Chi Minh City and the Mekong Delta region are vulnerable to climate change |
Secretary Kerry and Prime Minister Pham Minh Chinh expressed their resolve to work together intensively towards an accelerated energy transition for Vietnam and other efforts to reduce greenhouse gas emissions in support of Vietnam’s 2050 net zero emissions goal announced at COP26.
Accordingly, Vietnam is determined to undertake the significant policy and reform efforts necessary to rapidly transition to an efficient and clean energy economy and phase down coal power, including accelerating the development of large-scale renewable energy.
The two sides recognised the central importance of a just transition of the workforce, consistent with international best practices, and resolved to collaborate on these topics.
Kerry expressed the US intention to catalyse global support for Vietnam’s energy transition, through technical assistance, and efforts to mobilise public and private investment, including grants and concessional loans. Secretary Kerry welcomed the intention of Vietnam to facilitate the connection of complete and nearly-complete renewable energy installations to Vietnam’s grid.
The US welcomed Vietnam’s intention to submit updated commitments to COP27.
|Secretary Kerry said, “The United States is committed to working with G7 countries and others to support an ambitious and just energy transition and climate change adaptation in Vietnam.” |
Meanwhile, Vietnam expressed its resolve to finalise possible the Power Development Plan VIII (PDP8) to put the country’s power sector on a trajectory consistent with its 2050 net zero goal and limit further development of coal but include tens of gigawatts of additional renewable energy capacity at an affordable price by 2030.
To implement the PDP8, Vietnam intends to make use of its own domestic resources, along with the cooperation and support of the US and the international community, especially from the developed countries. Key areas for technical assistance include wind and solar potential assessment, legal consultation, renewable energy and supporting industries development, human resources development, and management skills.
Vietnam is also determined to significantly increase high-voltage transmission capacity in order to support greater levels of renewable energy and take steps toward facilitating the ability of the private sector and development finance institutions to invest in transmission while ensuring energy affordability.
Vietnam stated its intention to implement direct power purchase agreements as soon as possible to facilitate the power purchase between renewable energy developers and other stakeholders, helping to catalyse additional growth in renewable energy and the greening of Vietnam’s industrial sector.
Kerry and PM Chinh also noted the impacts of the ongoing energy crisis and resolved to deepen investments in renewable energy, minimising exposure to fuel price volatility, enhancing energy security, and maximising consumer benefits.
Kerry and PM Chinh resolved to launch the US-Vietnam Climate Change Working Group for COP27.
In addition, the secretary also welcomed the efforts of Vietnam’s National Steering Committee to implement the country's commitments at COP26, including those to further facilitate private investment in renewable energy and transmission.
Kerry shared with PM Chinh the desire of the US to elevate the bilateral relationship, with cooperation on combating the climate crisis as a pillar of the relationship.
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Hanoi - Deputy Prime Minister Le Van Thanh has signed a decision approving the National Strategy on Climate Change for 2050.
| ||PM hails contributions of COP26 President |
Prime Minister Pham Minh Chinh has hailed President of the 26th United Nations Climate Change Conference (COP26) Alok Kumar Sharma, who is also British Minister for the Cabinet Office, for his contributions to stepping up the delivery of COP26 commitments.
| ||US Special Presidential Envoy for Climate visits Ben Tre |
A delegation led by US Special Envoy for Climate John Kerry paid a working visit to Ben Tre on climate change situation in to the Mekong Delta province on September 3.
By The US Embassy