On the morning of March 27, at the Government Headquarters, Deputy Prime Minister Tran Hong Ha received Ms. Mary L.Schapiro, Vice President of the Glasgow Financial Alliance for the goal of reducing net greenhouse gas emissions to zero (GFANZ).
Deputy Prime Minister Tran Hong Ha received Vice President of the Glasgow Financial Alliance for the goal of reducing net emissions to zero Mary L. Schapiro. Photo: Van Diep/TTXVN
At the meeting, the Deputy Prime Minister shared that Vietnam is facing some difficulties in building legal mechanisms and policies for green transformation. Many investors have expressed interest in renewable energy projects but have not yet solved the technological problem related to ensuring balance and stability of the national power grid; production and use of green hydrogen and green ammonia; power storage solutions; electricity export…
Accordingly, Vietnam aims to completely resolve legal problems in the near future; At the same time, piloting a number of offshore wind power and solar power projects with solutions for power storage and flexible power supply...
The Deputy Prime Minister emphasized that Vietnam has specific energy conversion projects such as increasing the capacity of hydroelectric plants combined with solar power, wind power, developing biomass power, implementing carbon neutrality, transforming green transportation, reducing methane emissions on 1 million hectares of rice, developing 5.000 MW of rooftop solar power...; Currently in need of financial support for early implementation.
In addition, Vietnam wants to receive technical assistance and experts in building, perfecting institutions, transferring technology, and assessing the feasibility of energy centers and offshore wind power... "GFANZ It is necessary to build a clear financial mechanism regarding the responsibilities of all parties (Government, financial institutions, businesses...), the specificity of capital sources for the renewable energy sector, and quickly concretize them through regulations. project", Deputy Prime Minister said.
Along with that, GFANZ needs to have specific financial commitments and technology transfer from G7 countries and international partners in the Fair Energy Transition Agreement (JETP).
Thanking the Deputy Prime Minister for her time, Ms. Mary L.Schapiro shared about the progress of global financial institutions in mobilizing capital for energy transition projects as well as the challenges for many. Economics. Accordingly, GFANZ will spend financial resources on research, innovation and technology transfer activities in the field of renewable energy.
GFANZ leaders hope to receive clear requests and proposals from Vietnamese ministries and branches on mechanisms to mobilize capital in the international market for investment businesses related to smart grid development, renewable energy, fossil energy conversion, green fuel production from solar power, offshore wind power...
