Efforts accelerate the implementation of COP26 commitments

In recent time, the Government and the Ministry of Natural Resources and Environment, along with other ministries, branches, localities and businesses, have actively implemented solutions to fulfil Vietnam's commitment to net zero emissions by 2050 at the 26th United Nations Climate Change Conference of the Parties (COP26).

According to the Ministry of Natural Resources and Environment, right after COP26, a national steering committee for implementing Vietnam's commitments at the COP26 was established, headed by the Prime Minister. Relevant ministries and agencies shall focus on developing projects, strategies, programs and action plans to implement commitments.

So far, ministries and branches have submitted plans to the Prime Minister for consideration and approval such as theNational Power Development Plan for the 2021 - 2030 period, with a vision towards 2045; the project on tasks and solutions to implement outcomes of the COP26; the national climate change strategy to 2050; the action plan for green energy transition and reducing carbon and methane emissions in transportation to 2050; the National Plan of action for green growth in the 2021 – 2030 period; and an action plan to reduce methane emissions by 2030. In addition, several ministries and sectors are also developing action plans to implement Vietnam's commitments at the COP26.

The localities are urging and guiding the establishments in their localities subject to the greenhouse gas inventory to develop plans and roadmaps to reduce greenhouse gas emissions suitable to production and business conditions; implementing solutions to climate change adaptation in agriculture, sustainable agricultural development; focusing on exploiting the potential of renewable energy development, calling for investment in the development of renewable energy projects (solar power, wind power).

For the business sector, in implementing Vietnam's commitments at the COP26, state-owned corporations and corporations have conducted initial research and gradually reduced the use of fossil energy sources. Meanwhile, a number of multinational corporations such as Nestle, Equinor, and Grabare willing to cooperate with government agencies to achieve the goal of achieving "zero" net emissions in business activities.

Notably, a number of large domestic corporations are taking immediate action with the Government such as Vin Group to expand the scale and scope of production and supply of electric vehicles, build a battery factory to supply the domestic and international electric vehicles market; T&T Group invests in offshore wind power projects; TGS Group invests in building the first green hydrogen plant projects in Tra Vinh, Ben Tre and Ca Mau (expected to be put into operation in early 2025).

After the COP26, Vietnam became an attractive destination for investors and large energy corporations in the world, who wish to develop offshore wind power projects. To date, there are 41 dossiers from domestic and foreign enterprises applying for permission to measure, survey and evaluate wind energy resources at sea under the authority of the central agency. The coastal localities are reviewing the dossiers of the dozens of organisations and individuals who have proposed to survey the area and request to be assigned to implement wind power projects in the sea area.

Minister of Natural Resources and Environment Tran Hong Ha said that in order to accelerate the implementation of Vietnam's commitments at the COP26, the Minister proposed the Prime Minister to consider and approve the project on tasks and solutions to implement outcomes of the COP26; the national strategy on climate change until 2050; the National Power Development Plan for the 2021 - 2030 period, with a vision towards 2045; the Action Programme for Green Energy Conversion and Carbon and Methane Emission Reduction of the Transport Industry; and the national action plan on green growth for 2021 - 2030 period.

The Prime Minister assigned ministries and branches to continue reviewing and proposing amendments and supplements to regulations in order to create favourable conditions for enterprises to develop offshore wind power projects. At the same time, it is also necessary to soon submit detailed planning for offshore wind power development and the bidding mechanism for offshore wind power projects to the competent authorities for promulgation.

The Ministry of Natural Resources and Environment suggested that relevant ministries and branches should focus on completing synchronously mechanisms, policies and legal documents to remove difficulties and obstacles in the implementation of commitments of Vietnam at the COP26 Conference, attracting green finance flows into the implementation of projects to respond to climate change and energy transition; promulgate a mechanism to encourage domestic and foreign organisations and individuals to participate in responding to climate change and energy transition; and encourage enterprises to reduce emissions, save energy, develop environmentally friendly production models.

At the third meeting of the national steering committee for implementing the commitments at COP26, Prime Minister Pham Minh Chinh emphasised that in order to implement the commitments from COP26, it is necessary to define adaptation with climate change and achieving net zero emission by 2050 as an opportunity for sustainable development, and a priority in development decisions, ethical standards of all levels, sectors and businesses industry and people”.