The 'key' to breaking the deadlock on climate change

Global climate nears red line

Speaking at the conference, Prime Minister Pham Minh Chinh emphasized that the global climate system is approaching the red line. In the hottest year in modern history, ice is melting at an unprecedented rate. Rising sea levels, droughts, floods, landslides, and forest fires are becoming more devastating. Many territories and communities are at risk of being flooded and submerged. Food security and energy security are threatened…

Prime Minister speaks at COP28 summit

Notably, the gap between climate pledges and action remains wide. Competition, division, fragmentation, war, conflict, and pandemics further divert resources from climate change. After 14 years, we are still far from meeting our commitment of $100 billion per year for climate action.

"What has been said and done, what has been committed must be carried out is the key to strengthening trust between countries and breaking the deadlock in climate change negotiations," Prime Minister Pham Minh Chinh stated.

The head of the Vietnamese Government also emphasized that the impacts of climate change and epidemics in recent years have further demonstrated that this is a global issue, a problem for all people. Each country must be responsible, combined with the strength of international solidarity, so that no country or person is left behind.

In particular, regarding resource sharing, the Prime Minister said that developed countries must further increase support for developing and underdeveloped countries, especially preferential capital, advanced technology transfer, high-quality human resource training, smart governance and perfecting modern market institutions that are suitable and effective for each country.

On the contrary, developing and underdeveloped countries must make more efforts to not be passive, not wait, not rely on others, but must strive with the spirit of "no one can do better for you than yourself". In addition, it is necessary to ensure fairness and justice in combating climate change. That means ensuring national energy autonomy and security, access to clean energy at reasonable and effective costs for all businesses, people and each country.

After COP26 in Glasgow, Scotland (UK), the world situation has many fluctuations, difficulties and challenges more than opportunities and advantages. However, with its responsibility to the world and the people, Vietnam has comprehensively implemented many issues, such as building plans and organizing the implementation of climate change strategies and green growth strategies. The approved Power Plan 8 moves towards renewable energy as the mainstay; developing renewable energy industry and building a renewable energy ecosystem...

In addition, the Government has issued and implemented a Plan to develop 1 million hectares of high-quality, low-emission rice (especially methane). Institutional development, including the development of the Petroleum Law, the completion of the Land Law, the Electricity Law in the direction of supporting the development of renewable energy; a decree on direct electricity purchase and sale...

Overview of the world climate action summit on the afternoon of December 2

"Time does not wait. Difficulties and challenges are increasing, becoming more complex and unpredictable. Therefore, if we are united, we must be even more united; if we are making efforts, we must make even more efforts; if we are taking action, we must act even more decisively and effectively...", Prime Minister Pham Minh Chinh emphasized.

Many wind power corporations want to enter Vietnam

On the same morning, the Prime Minister attended the Vietnam - UAE Business Forum: Mobilizing resources for green transformation, with the presence of nearly 200 Vietnamese and UAE enterprises and international organizations...

Ms. Jannicke Nilsson, GWEC Standing Member, Vice President of Equinor Group - Norway's largest energy group, said that it has been present in Vietnam since the 1990s, cooperating with the Vietnam Oil and Gas Group (PVN). Equinor also opened an office in Vietnam in 2022 and has 2 offshore wind power projects.

According to Ms. Nilsson, the advantage of offshore wind power is that costs are decreasing and creating more jobs. However, to develop this field, it is necessary to plan marine space and Decree 11 on the use of marine resources is an important legal framework. Wind power projects need to be approved by many different ministries and sectors, so inter-ministerial cooperation is needed to promote procedures, mechanisms and implementation progress.

Presenting solutions to mobilize financial resources, Mr. Kelvin Tan, Executive Director, Head of Sustainable Finance Investment for ASEAN (HSBC Bank), said that the demand for financial resources to achieve the Net Zero target in the world by 2050 is huge, up to thousands of billions of USD. Similarly, with Power Plan 8, Vietnam needs a huge investment demand, estimated at tens of billions of USD.

This raises the need for alliances in the energy transition. These projects all involve large capital, long-term loans, and require appropriate power purchase agreements. Mr. Kelvin Tan also said that Vietnam has a good history of financial lending.

Sharing with investors, Prime Minister Pham Minh Chinh emphasized that Vietnam has a good foundation for businesses to feel secure in long-term investment; committed to ensuring the legitimate rights and interests of businesses. The question is what does Vietnam need for green development?

According to the Prime Minister, Vietnam needs preferential capital because it is a developing country with a modest economic scale and high openness. Vietnam also needs advanced technology to "follow the lead". In addition, it needs trained human resources; advanced management and the building of open and suitable institutions. "Vietnam is a reliable address to entrust, we will not disappoint your trust; ensuring that trust is not only stable but also develops", the Prime Minister emphasized.

At the forum, Prime Minister Pham Minh Chinh witnessed the signing ceremony of cooperation agreements between Vietnamese enterprises and international partners. These included a Memorandum of Understanding between CT Group and ACX Group on establishing and enhancing carbon credit trading and reducing carbon emissions; a Memorandum of Understanding between CT Group and FairAtmos Group on establishing and enhancing carbon credit trading and reducing carbon emissions...

Gradually reduce dependence on coal power

On the afternoon of December 2, Prime Minister Pham Minh Chinh attended and spoke at the seminar "Accelerating the transition to coal power" chaired by French President Emmanuel Macron. The French President and leaders of countries and organizations emphasized the urgent need to reduce dependence on coal power, convert energy, and develop renewable energy. However, developing countries cannot be asked to choose between energy transition and economic development.

According to the Prime Minister, Vietnam, like other developing countries, cannot deny the role of coal power, but it is time to switch to a cleaner energy source. Vietnam will perfect its institutions, legal framework, and policy mechanisms to make the switch with an appropriate roadmap and steps.

Source link: https://thanhnien.vn/chia-khoa-khai-thong-be-tac-ve-bien-doi-khi-hau-185231202214637412.htm