Vietnam committed to reaching net zero carbon emissions by 2050 at the COP26 climate conference
Vietnam has taken steps towards meeting this commitment, including setting targets, beginning work on a carbon market, and issuing guidelines for energy market development planning
Vietnam's manufacturing base is expanding rapidly and its energy consumption is high, leading to reliance on low-cost fossil fuels
In order to meet its net zero commitment, Vietnam will have to shift away from fossil fuels and towards renewable energy sources
Vietnam is working on building a domestic carbon market and is considering options such as a feed-in tariff for renewable energy, a renewable portfolio standard, and a carbon tax
Vietnam is also developing its Power Development Plan 8 (PDP8) to outline the development of the energy sector between now and 2030, with a focus on renewable energy sources
Vietnam's energy mix is expected to shift towards renewable energy sources such as wind, solar, and hydropower, with a goal of reaching a 30 percent share of renewables in the energy mix by 2030
Vietnam is also working to increase energy efficiency and reduce energy consumption in industry and transportation, and is investing in research and development of renewable energy technologies.
top of page
Search
Recent Posts
See AllNew Zealand Prime Minister Jacinda Ardern is leading a trade delegation to Vietnam to strengthen ties between the two countries The two countries are targeting $2 billion in two-way trade annually by
20
Non-government organizations (NGOs) in Vietnam can carry out development assistance and charitable activities, which are categorized as non-profit Vietnam recently updated the legal framework for NGOs
30
A circular that came into force in Vietnam earlier this month brings Vietnam's market entry requirements for pharmaceuticals from Spain, Poland, Italy, and Hungary into line with their EU counterparts
10
bottom of page