EU committed to helping Vietnam in green transition

During his three-day visit to Vietnam from Feb. 17 to 19 to discuss Vietnam’s promises at 2021 U.N. Climate Change Conference (COP26) in Scotland last November, Timmermans said “Vietnam has taken an ambitious step forward by setting a target of net zero emissions by 2050. This is an important goal that requires first and foremost a halt to new coal-fired power projects that have no technologies to keep carbon dioxin.”

“The EU is willing to continue to support Vietnam in its green transition. Vietnam has great potential to continue developing renewable energy. Over the past few days, we have discussed the directions to apply Europe’s experience, expertise and financial support to accelerate this transition,” according to the Delegation of the European Union in Vietnam.

The visit of Timmermans also marks the implementation of the international cooperation and development program between the EU and Vietnam for the period of 2021-2027, which was approved last December.

The EU will provide non-refundable aid of 210 million euros (more than $237.6 million) over four years of 2021-2024 for Vietnam to strengthen bilateral cooperation and promote common interests in the fields of priority areas like climate-responsive digital circular economy, responsible entrepreneurship and enhanced skills for decent employment, and strengthening governance, rule of law and institutional reform.

Prime Minister Pham Minh Chinh affirmed Vietnam would actively develop sustainable energy and work towards reducing coal-fired power in a video sent to Russian Energy Week International Forum last October.

The country would diversify its energy sources, focusing on developing clean and renewable energy via wind power, solar power, biomass power, and waste to energy power, aiming to increase the share of clean energy to at least 20 percent by 2030 and 30 percent by 2045 in its total primary energy supply, he said.

At COP26, Vietnam was among a 190-strong coalition of countries and organizations pledging to phase out coal-fueled power generation and stop building new plants.