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Wednesday, July 24, 2024

UNDP pledges to support Vietnam in green energy transition

The Saigon Times

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HCMC – The United Nations Development Program (UNDP) is ready to support the Vietnamese Government in formulating and implementing the Just Energy Transition Partnership (JETP) resource mobilization plan in 2023.

UNDP Resident Representative in Vietnam Ramla Al Khalidi told the Vietnam News Agency that the support includes UNDP’s proven technical assistance services to many countries in green transition/NAMA projects, which can help Vietnam promote and scale up private sector investments in the JETP resource mobilization plan.

UNDP started assessing the impact of phasing out coal power and energy transition in Vietnam and defining what these processes would specifically mean for the country, said Khalidi.

As Vietnam embarks on a greener and more resilient path in the next three-to-five years, including JETP, the country needs to accelerate preparations for a package of public instruments to de-risk investments in renewable energy and design and develop a just and feasible process to phase out coal in both State-owned enterprises and foreign-invested coal power plants, according to the UNDP representative.

She also said that achieving a just energy transition will require an unprecedented investment effort from the Government, businesses, the community and households, the local media reported.

Besides, UNDP Vietnam has supported the Vietnamese Government in poverty reduction, human development, citizens’ participation and human rights, transparency and accountability, climate change mitigation and adaptation, disaster risk management, circular economy development, the sustainable deployment of clean and renewable energy and the sustainable management of natural resources.

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