Vietnam’s green transition efforts are in full swing as the country builds on the Just Energy Transition Partnership (JETP) to move closer towards its 2050 net-zero goals.
On April 17, Deputy Prime Minister Tran Hong Ha hosted the United Kingdom’s Special Envoy on Climate Change Chris Taylor and Principal Adviser on Energy Diplomacy at the European Union Tibor Stelbaczky to discuss how the EU and UK could support Vietnam’s energy transition. DPM Ha emphasized that Vietnam takes its responsibility seriously for working with other countries in responding to climate change, reducing net greenhouse gas emissions to zero, and transitioning energy equitably. Vietnam considers JETP a key channel to receive technological and financial support from developed countries and financial institutions for just energy transition. Expressing his support for the initiative to establish the JETP Secretariat, he also suggested the EU and the UK support Vietnam in completing the legal framework, mechanisms, and policies, and choosing renewable and green energy projects to solve problems in credit, technology, and governance.
The Vietnamese government and the private sector have begun working towards Vietnam’s green transition goals. Vietnam has embarked on initiatives designed to introduce sustainability into key industries.
Earlier this month, Vietnam conglomerate VinGroup launched the first eletric taxi service in Hanoi using VinFast electric vehicles. VinGroup has expressed its commitment to lead the push for electric taxis in Vietnam and plans to expand to at least five major cities within 2023.
In agriculture, the EU-funded promotion of a Sustainable Clam and Bamboo Value Chain (SCBV) project seeks to improve the sustainability of the clam and bamboo industry in Vietnam by promoting environmental practices while strengthening market access for clam and bamboo products.
On provincial level, TGS Tra Vinh Green Hydrogen Company has begun work on the country's first green hydrogen plant in the Mekong Delta province of Tra Vinh’s Duyen Hai district with a total investment of USD$341 million. The plant is expected to become operational after two years. The government has identified the green hydrogen as an alternative energy source as a priority for development. Binh Duong province is also planning to build Vietnam's first net-zero industrial cluster. On April 13, Gia Dinh Group and SEP Cooperative of the Republic of Korea signed an MOU to build the complex with an investment of US$200 million. The complex will involve the use of solar energy and industrial waste recycling to create an industrial zone with no carbon footprint.
