According to the recently approved National Strategy on Responding to Climate Change to 2050, Vietnam sets a target of "zero" net emissions by 2050. Specifically, the total carbon emissions in the main emission sectors of energy, agriculture, waste and industrial processes are only about 185 million tons of CO2 equivalent (CO2eq) – equal to the amount of carbon sequestration obtained from the forestry sector and land use.
In addition to joint activities to participate in negotiations on climate change, Vietnam's delegation to COP27 had a separate presentation at the event "From commitment to action: Vietnam cooperates with members NDC partners to put the commitments at COP26 into action”. Highlighting some important new policies of Vietnam to implement commitments at COP26, Mr. Pham Van Tan - Deputy Director of the Department of Climate Change (Ministry of Natural Resources and Environment) mentioned that earlier this year, the Government had approved it.
At the Roundtable to discuss efforts to close coal power plants in Southeast Asia within the framework of COP27, the representative of the Vietnamese delegation, Mr. Tang The Cuong - Director of the Department of Climate Change According to the Ministry of Natural Resources and Environment, Vietnam has committed to net zero emissions by 2050 and needs an energy transition. This target has been included in the National Strategy on Climate Change for the period to 2050.
Up to now, Vietnam has signed cooperation agreements to implement COP26 commitments with the Korea International Cooperation Agency (KOICA), the French Development Agency (AFD), the Korean Ministry of Environment, the Ministry of Earth Science and the Republic of India, International Finance Corporation (IFC), Citibank, BIDV, HSBC Bank, Standard Chartered Bank to mobilise finance and resources of the private sector in implementing commitments in COP26.
From 2022, facilities in Vietnam that emit 3,000 tons of CO2eq or more annually are required to inventory and reduce greenhouse gas emissions. In addition, the Strategy also encourages other emitters, especially those in the public sector to do this as later on, the object will be expanded to facilities that emit 2,000 tons of CO2eq or more annually from 2030 onwards; 500 tons of CO2eq or more from 2040; 200 tons of CO2eq or more by 2050. All public sector establishments must also conduct a greenhouse gas inventory and reduce their greenhouse gas emissions from 2050.
Vietnam's emissions should peak in 2035 and then decline rapidly. In the short term, by 2030, the total national greenhouse gas emissions must be reduced by 43.5% compared to the development-as-usual scenario (BAU). In which, the energy sector decreased by 32.6%, not exceeding 457 million tons of CO2 equivalent; the agricultural sector decreased by 43%, not exceeding 64 million tons of CO2eq. The waste sector decreased by 60.7%, not exceeding 18 million tons of CO2eq; the industrial process sector decreased by 38.3%, not exceeding 86 million tons of CO2eq; In the forestry sector, land use reduces emissions by 70% and increases carbon sequestration by 20%, with total emissions and removals reaching at least -95 million tons of CO2eq. In addition, establishments with annual greenhouse gas emissions of 2,000 tons of CO2eq or more must reduce greenhouse gas emissions.
At discussions with international partners, members of the Vietnamese delegation all emphasized the country's abundant renewable energy potential, especially, the potential for wind power development can be increased to 600GW and are focusing on offshore wind power. Vietnam fully welcomes international support for the transition from fossil energy to renewable energy, but it is necessary to ensure fairness and justice in this process.
source: the Internet