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Vietnam’s plan for spending $15.5 billion for its clear vitality transition to be introduced at COP28

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A plan for a way Vietnam will spend $15.5 billion to transition to cleaner vitality has been finalized and can be introduced formally on the COP28 local weather convention, which begins in Dubai subsequent week

ByANIRUDDHA GHOSAL Related Press

November 24, 2023, 6:02 AM

FILE – Employees are seen in Ninh Binh Energy Plant, which is a coal fired energy plant to provide electrical energy, in Ninh Binh Province in Vietnam, on Sept. 19, 2007. A plan for a way Vietnam will spend $15.5 billion to transition to cleaner vitality has been finalized and can be introduced on the COP28 local weather convention, which begins in Dubai subsequent week. (AP Photograph/Chitose Suzuki, File)

The Related Press

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HANOI, Vietnam — A plan for a way Vietnam will spend $15.5 billion to transition to cleaner vitality has been finalized and can be introduced on the COP28 local weather convention, which begins in Dubai subsequent week.

Mark George, the local weather counselor for the British Embassy in Hanoi, stated that after months of coordination with key Vietnamese ministries to iron out particulars of how the cash can be used, the ultimate plan was finalized on Thursday.

George gave no particulars of the plan.

The United Kingdom is co-chair of a gaggle of 9, wealthy industrialized nations which have agreed to supply the $15.5 billion to assist Vietnam finish its reliance on soiled coal energy and extra shortly swap to renewable vitality as part of a Simply Vitality Transition Partnership, or JETP.

“That could be a actually essential milestone,” stated George.

George was talking at a panel dialogue hosted by the UK-Vietnam Joint Financial and Commerce Committee centered round alternatives for the 2 nations after Britain formally joined an Asia-Pacific commerce group that features Japan and 10 different nations.

Earlier this 12 months, Vietnam launched a nationwide vitality plan that aimed to greater than double the utmost energy Vietnam can generate to some 150 gigawatts by 2030. It referred to as for a drastic shift away from closely polluting coal and pledges that no new coal-fired vegetation can be constructed after 2030. It additionally referred to as for increasing use of home gasoline and imported liquefied pure gasoline or LNG, which is able to account for about 25% of whole producing capability, whereas hydropower, wind, photo voltaic, and different renewable sources will account for almost 50% by 2030.

Tang The Hung, the deputy director basic of Vietnam’s division of Vitality Effectivity and Sustainable Improvement, who additionally was at Friday’s panel, stated “nice assist” from the worldwide neighborhood was wanted to make sure Vietnam can perform its plan.

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Related Press local weather and environmental protection receives assist from a number of non-public foundations. See extra about AP’s local weather initiative right here. The AP is solely accountable for all content material.



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