ADB continues to support Vietnam in responding to climate change

On March 8, in Hanoi, Deputy Minister of Natural Resources and Environment Le Cong Thanh received and worked with Mr. Shantanu Chakraborty, Country Director of the Asian Development Bank (ADB) in Vietnam.

Mr. Shantanu Chakraborty emphasized that over the past 30 years of partnership, the Asian Development Bank has actively supported Vietnam in addressing many issues, especially in responding to climate change; and wished to promote the signing of a cooperation agreement or a Memorandum of Understanding with the Ministry of Natural Resources and Environment of Vietnam on enhancing cooperation in responding to climate change. Mr. Shantanu Chakraborty said that this agreement is necessary and will highlight the Asian Development Bank's commitment to supporting the country in addressing the current climate crisis.

Tien Giang has completed and put into use the Go Cong sea dike upgrade project (phase 2) to respond to climate change and protect production and life. Illustrative photo: Minh Tri/VNA

Recognizing that Vietnam is one of the countries heavily affected by climate change, Mr. Shantanu Chakraborty wishes to strengthen cooperation and implement specific projects with Vietnam, aiming to achieve substantial results in the next 12 - 18 months.

At the meeting, the representative of the Asian Development Bank proposed to support Vietnam in implementing its commitment to reduce net emissions to "0" (net zero) by 2050, support Vietnam with 3-10 projects to implement the Just Energy Transition Partnership (JETP) and a plan to mobilize resources to implement the Just Energy Transition Partnership.

Deputy Minister Le Cong Thanh highly appreciated the support and cooperation of the Asian Development Bank; he expected to continue to receive coordination from the Asian Development Bank in implementing pilot projects. Through this, Vietnam will draw lessons to promote the Partnership for a Just Energy Transition faster and stronger.

The Ministry of Natural Resources and Environment is in the process of reviewing and amending Decree 06/ND-CP of the Government regulating greenhouse gas emission reduction and ozone layer protection, focusing on detailing regulations on the organization and development of the carbon market.

Deputy Minister Le Cong Thanh proposed that the Asian Development Bank continue to share experience and expertise, support Vietnam in building and managing a carbon credit trading floor, and support the connection and linkage of the domestic carbon market with the international one.

According to VNA/Tin Tuc Newspaper

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