UK pledges help in reducing Vietnam’s dependence on fossil fuels

06:00 | 21/06/2021 Cooperation

(VEN) - Vietnam’s Minister of Industry and Trade Nguyen Hong Dien met recently in Hanoi with Alok Sharma, President of the 26th session of the UN Climate Change Conference (COP 26), to discuss energy issues and climate change response for greener economic development.

Commitment to emissions reduction

Vietnam’s energy sector is forecast to account for over 70 percent of its total greenhouse gas emissions by 2030. Under the terms of the Paris Climate Change Accord submitted to the UN in September 2020, Vietnam has committed to reducing its greenhouse gas emissions by nine percent this decade. This figure could increase to 27 percent if it receives efficient support from the international community.

uk pledges help in reducing vietnams dependence on fossil fuels

Minister Dien praised Sharma’s late May visit to Vietnam and other Southeast Asian countries, saying it reflected the willingness of the UK, his homeland, and other developed countries to share experiences and cooperate with Vietnam’s response to climate change.

Minister Dien informed the COP 26 President that Vietnam’s Power Plan VIII would develop integrated smart grids and two-way energy transmission lines, improve the adjustment of frequency and voltage to keep the power system stable, accelerate use of renewable energy sources and research and develop storage of such energy.

While Vietnam has adopted many technical infrastructure solutions and policies to increase the proportion of renewable energy in its energy industry’s structure, it has acknowledged the challenges of rapid renewable energy development, including power grid improvement and capital for energy efficiency improvement, Dien said.

Dien expressed his hope that energy conversion exchange and other cooperation activities with the UK would provide Vietnam with efficient support in the transfer of renewable energy and energy infrastructure technology, as well as financial assistance to promote energy efficiency and develop clean energy development technology to reduce dependence on fossil energy sources.

Sharma praised Vietnam’s efforts in responding to climate change, while noting the problems it faces in promoting the development of renewable energy. He pointed in particular to power grid improvement as the biggest obstacle to Vietnam’s shift from coal to renewable energy. The UK and other developed partners are willing to mobilize experts to help Vietnam in this regard, while the World Bank and the Asian Development Bank provide preferential loans to help Vietnam upgrade its power grid, he said.

Minister Nguyen Hong Dien told his visitor that Vietnam has a high sense of responsibility to the international community, contributing effectively to the negotiation and implementation of bilateral and multilateral agreements on trade, investment, environmental protection, climate change response and sustainable development.

As host of the 26th UN Climate Change Conference (COP26) scheduled for November 1-12 in Glasgow, the UK is committed to supporting countries in their shift to clean energy.

Thu Thuy