At the United Nations Climate Change Conferences (COP), Vietnam has put forth strong commitments to environmental protection and a desire to pursue a green transition. Reflecting on the past three years, Vietnam has steadily taken steps to realize these pledges.
COP26: Vietnam Sets Net-Zero Target by 2050
At COP26 in Glasgow in 2021, Vietnam joined 148 other countries and territories worldwide in committing to a net-zero emissions goal by the mid-21st century, underscoring the global effort in the fight against climate change and the pursuit of sustainable development.
Vietnam’s Environmental Commitments at COP26:
- By 2030:
- Reduce global methane emissions by thirty percent.
- Decrease greenhouse gas emissions by nine percent through domestic resources, and by twenty-seven percent with international support.
- End deforestation in line with the goals of the Paris Agreement.
- By 2040: Halt the construction of new coal-fired power plants, alongside a commitment shared by over forty-five other countries to shift toward clean energy sources and reduce reliance on coal.
- By 2050: Achieve a net-zero emissions target.
COP28: Commitment to Global Cooling and the Just Energy Transition Partnership (JETP)
At COP28 in Dubai in 2023, Vietnam committed to actively participating in the global cooling goal and formally announced its plan to implement the Just Energy Transition Partnership (JETP), focusing on eight key areas:
- Improving Institutional and Policy Frameworks to promote energy transition;
- Transitioning Coal Power to Clean Energy sources;
- Developing an Industrial and Service Ecosystem for renewable energy;
- Promoting Efficient and Economical Energy Use;
- Upgrading the Power Transmission and Distribution System, accelerating the development of a smart grid, and advancing energy storage systems;
- Reducing Greenhouse Gas Emissions in the Transportation Sector;
- Fostering Innovation and Technology Transfer.
- Ensuring a Just Energy Transition.
Vietnam’s Efforts Following COP26 and COP28
Legal Framework Adjustments on Environment and Climate Change
Vietnam’s efforts to combat climate change have been concretely realized through the latest legal regulations, particularly the amended Environmental Protection Law of 2020. This law clearly outlines the rights and responsibilities of individuals, households, and businesses, both domestic and international, in environmental protection.
Additionally, timely issuance of guiding documents, decrees, and detailed regulations provides a critical legal foundation for implementing commitments from COP26 and COP28. In August 2024, Vietnam issued a list of sectors and facilities required to conduct greenhouse gas inventories. According to this, 2,171 facilities that emit greenhouse gases must perform inventories. This will serve as a basis for businesses to develop their emission reduction roadmaps and determine investment sources for new energy, renewable energy, and new technology.
Development of Renewable Energy
Vietnam is actively promoting a renewable energy transition, with an expected growth rate of five to seven percent annually over the coming years. According to a report by the International Renewable Energy Agency (IRENA), Vietnam’s total renewable energy generation capacity reached 21.6 GW in 2023. Under Power Plan VIII, Vietnam aims to phase out coal power generation by 2050 and increase solar power installation capacity to thirty-four percent, up from twenty-three percent in 2022. The plan also projects energy storage capacity to reach 300 MWh by 2030 and 26 GWh by 2050.
Electricity Production in Q1 2024 (Source: EVN)
According to IRENA, Vietnam leads ASEAN countries in solar power installation capacity, nearly doubling the combined capacity of other ASEAN countries. Major energy players, including First Solar (U.S.), JA Solar Investment (Hong Kong), and Trina Solar, have made significant investments in the Vietnamese market.
National Electricity Saving Program
In tandem with energy transition, Vietnam is promoting efficient electricity use. According to the Ministry of Industry and Trade, at the National Conference on Efficient and Economical Energy Use on September 19, 2024, sixty out of sixty-three provinces have implemented the national action plan on energy efficiency for the 2020–2025/2030 period. From 2020 to 2023, the national electricity saving program reduced annual energy consumption by over two percent. Electricity loss rates also decreased from 7.47 percent in 2017 to 6.25 percent in 2022.
In the first five months of 2024, nationwide electricity savings totaled more than 2,620 million kWh, equaling 2.38 percent of the cumulative commercial electricity sales during that period. “Vietnam has significant electricity-saving potential,” noted Tran Viet Nguyen, Deputy Head of the Business Department at Vietnam Electricity Group (EVN).
Vietnam’s Continued Engagement at COP29
Building on the successes of COP26 and COP28, COP29 will be held in Azerbaijan from November 11–22, 2024, with a focus on climate finance. This conference presents an opportunity for Vietnam and other developing nations to access further support for climate goals and advance their environmental protection commitments.
Sources: VNeconomy, Industry and Trade Newspaper
See also: Key Changes in the 2020 Environmental Protection Law for Industrial Construction
See also: Green Factory Design Trends in Vietnam 2024
