UK pledges support for Việt Nam to achieve COP26 commitments

Prime Minister Phạm Minh Chính suggested the UK and development partners support Việt Nam in technology, capacity and finance so it can better realise its commitments in climate change and emissions reduction.

He made the statement during a meeting with the President for the 26th UN Climate Change Conference of the Parties (COP26) Alok Kumar Sharma on Monday during his visit to Việt Nam from February 13-15.

The PM said Việt Nam considered climate change adaptation a difficult yet also a key and urgent task. The country has proactively joined the international community in reducing greenhouse gas emissions, adaptation to climate change and considered this an opportunity to shift to a green, circular and low carbon development model.

Following COP26, Việt Nam has quickly implemented its commitment through various activities and is working to complete its legal framework as well as identify a specific roadmap and mobilise investment for climate change adaptation towards the achievements of the commitments made at COP26.

In the energy sector, Việt Nam is reviewing and completing the power master plan, promoting the strong development of renewable energy, shifting from coal to clean energy sources in an appropriate and sustainable manner, ensuring fairness and justice, he said.

The head of the Government said Việt Nam will have a proper legal framework to realise commitments made at COP26 and would need to mobilise resources due to the need for a huge amount of finance.

He suggested COP26 President Sharma continue to push the cooperation between Việt Nam and the UK and development partners in technology, capacity building and finance so Việt Nam can realise its commitments and global initiatives on emissions reduction, climate change adaptation, contributing to the sustainable development.

He also asked the President to help Việt Nam connect with financial and credit institutions to provide the country with credit and finance, which is similar to the “Just Energy Transition Partnership” model that the UK, France, Germany, the US and Europe signed with South Africa.

PM Chính also proposed to support Việt Nam to establish a domestic carbon market connected to the international market, establish a renewable energy centre to train human resources, transfer technology, share experience in legislation and national governance as well as technical assistance to help Việt Nam realise its commitments at COP26, among others.

The president of COP26 said he highly appreciated Việt Nam’s strong commitments and its leading role in the region, making an important contribution to the overall success of the COP26 Conference and the Glasgow Climate Pact.

He also welcomed the country’s quick and comprehensive approach and actions of the Government and ministries to ensure commitments are implemented.

President Sharma affirmed his willingness to actively cooperate and share experiences with Việt Nam to support the implementation of commitments, emphasised that the energy transition is the key to Việt Nam’s climate commitments as 70 per cent of the country’s emissions come from the energy sector.

The UK will make every effort to assist Việt Nam in accessing and mobilising the necessary financial resources in this process, he said.