The World Bank (World Bank) and the European Union (EU) have just said they will continue to support Vietnam’s transition to green and sustainable energy.
The commitment was made during the 4th Summit of the Vietnam Energy Partnership Group (VEPG) on January 24.
The World Bank said that VEPG’s new slogan is “Together, transforming sustainable energy in Vietnam” which clearly demonstrates the Group’s goal to “continue to ensure close cooperation, effectively support and contribute to shaping the nation’s energy transition.”
According to the news, many international experiences and recommendations were also shared at the meeting to remove technical and investment difficulties for the sustainable energy transition in Vietnam.
Speaking at the meeting, Mr. Giorgio Aliberti, Ambassador of the European Union to Vietnam, said that “Vietnam participates in the energy transition process towards building a greener, cleaner and energy-efficient structure. More efficient energy is an important contribution, not only to the sustainable development of the economy but also to the fight against global climate change.”
He also added that “the European Union – as well as the other development partners, present here today – to support this energy transition while ensuring energy access at low cost. reasonable for all and protect Vietnam’s competitiveness at the local and international level.”
“We will continue to provide financial support for VEPG’s operations and will work with the Ministry of Industry and Trade to develop a sustainable and long-term financial roadmap for this partnership, including a strategy for mobilizing contribution of public, private and development partners to maintain the operation of VEPG. I am confident that with the new structure, the VEPG will continue to be a useful and unique platform for coordinating dialogue and actions to help Vietnam fulfill its energy transition goal,” he added, according to the World Bank.
Carolyn Turk, World Bank Country Director for Vietnam, said that “over the past few decades, the energy sector has played a fundamental role in promoting rapid and inclusive economic growth in Viet Nam.”
“Over the next decade, the energy sector needs to emit less carbon and gradually phase out fossil fuels, the fuel that generates the largest amount of greenhouse gas emissions. And we will have to do this in the context of maintaining energy demand at a reasonable cost, while ensuring financial stability, creating a driving force for industry development. In order to achieve these goals, we look forward to continuing to support the Vietnamese Government in developing a greener and more sustainable energy industry,” Ms. Turk said.
It is reported that, at the COP26 climate change conference in Scotland last year, Prime Minister Pham Minh Chinh announced that Vietnam would develop and implement stronger measures to reduce greenhouse gas emissions with the cooperation and support of the international community in both finance and technology transfer, including the implementation of mechanisms under the Paris Agreement, to achieve net emissions of “zero” by the year 2050.
Thoibao.de (Translated)
