HCMC – Prime Minister Pham Minh Chinh has called for accelerated efforts towards a green economy, stressing the need for stronger policy frameworks and increased collaborative efforts.
The statement was made in Hanoi today at the fifth meeting of the National Steering Committee on the implementation of Vietnam’s commitments at the 2021 United Nations Climate Change Conference in Glasgow (COP26).
PM Chinh emphasized the importance of green growth and climate change mitigation amid growing global challenges, highlighting the need to align domestic policies with international commitments and leverage international cooperation.
Since the fourth meeting of the committee in July 2023, Vietnam has implemented specific policies to fulfill the commitments made at COP26. Key initiatives included the national maritime spatial plan, the direct power purchase agreement mechanism, and another mechanism for adjusting the average retail electricity tariff.
While progress has been made in promoting sustainable development in Vietnam, PM Chinh noted that more needs to be done to meet the net-zero emissions goal by 2050. Plans are in place to enhance legal and policy frameworks supporting digital transformation, green transition, and low-carbon economic development.
To mobilize resources, the Government leader called for improved mechanisms to attract both domestic and foreign investment in green projects, urging innovation in clean technologies like renewable energy and carbon capture.
He also directed ministries and agencies to expedite the development of specific projects, particularly those related to the Just Energy Transition Partnership (JETP) and the Asia Zero Emissions Community (AZEC).
