Vietnam attends High-level Event on Global Carbon Pricing Initiative

On September 20, 2023, Minister of Natural Resources and Environment Dang Quoc Khanh attended the High-level Event on the Global Carbon Pricing Challenge initiated by Canadian Prime Minister Justin Trudeau. Here, Minister Dang Quoc Khanh met and discussed with Canadian Prime Minister Justin Trudeau.

This is one of the events organized by Canada on the occasion of the 78th High-level General Debate of the United Nations General Assembly taking place in New York, USA.

Speaking at the event, Canadian Prime Minister Justin Trudeau stated that climate change is becoming increasingly extreme, seriously affecting every country and people. Therefore, world leaders need to act urgently to protect communities and people. Accordingly, greenhouse gas emissions, the cause of climate change, must apply carbon pricing.

Speaking at the event, Canadian Prime Minister Justin Trudeau hoped that countries like Vietnam and Singapore would soon join this Initiative, thereby contributing to the global effort.

Canadian Prime Minister Justin Trudeau hopes that countries like Vietnam and Singapore will soon join this Initiative, thereby contributing to the global effort.

International Monetary Fund Managing Director Kristina Georgieva said that carbon pricing is one of the solutions to ensure fairness in responding to climate change. Accordingly, high-emitting countries must contribute more to responding to climate change, while developing countries contribute based on their actual greenhouse gas emissions. Accordingly, the scope of carbon pricing tools should be increased from the level of controlling about 25% of total global greenhouse gas emissions to 60% by 2030.

International Monetary Fund Managing Director Kristina Georgieva said carbon pricing is one of the solutions to ensure fairness in responding to climate change.

Minister Dang Quoc Khanh attended the event.

Through the initiative, member countries will engage in dialogue, share information and experiences to support the effective and appropriate implementation of carbon pricing tools towards achieving the goal of achieving net zero emissions by 2050. Each year, member countries will synthesize and monitor progress towards the common goal.

Minister Dang Quoc Khanh and the heads of delegations from countries attending the event took a group photo with Canadian Prime Minister Justin Trudeau and the Canadian Climate Change Ambassador and representatives of international organizations attending the event.

Minister Dang Quoc Khanh met and discussed with Ms. Jenny Kim - Deputy Minister of Foreign Affairs - Korean Ambassador for Climate Change

To date, seven countries have joined the initiative, including Canada, Chile, New Zealand, Sweden, the United Kingdom, South Korea, and Germany. These are countries that have implemented carbon pricing tools (carbon tax, greenhouse gas emission trading system). Canada has not officially invited Vietnam to participate in the above initiative but is still supporting other countries, including Vietnam, to develop and implement carbon pricing tools through the Carbon Market Implementation Partnership Program (PMI) managed by the World Bank.

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