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Nghiem Thi Ngoan highlights the potential of green hydrogen for decarbonizing iron and steel production in Vietnam and illustrates the potential to reduce carbon emissions through the use of green hydrogen as an alternative to coal.

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The study on "Co-benefits of energy transition in Viet Nam's industrial development" aims to provide an overview of the localisation of the industrial sector amid the energy transition. It examines various aspects, including policy framework, international experience, current status and the localisation potential of two key technologies: wind and solar power for the period of 2025-2050. On the other hand, this study also serves as a foundation for CASE to conduct more detailed and in-depth policy framework research for localisation in the next stages.

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This study on Assessment of Capacity Building Needs has overall objective of identifying the needs from the key stakeholders and then providing suggestions on feasible measures to better support the main actors involving into energy transition (ET) progress in Viet Nam. To achieve this objective, gaps in terms of legal frameworks, institutional capacities of actors involved into state governance, implementation and supporting the process of energy transition (including but not limited to RE development and energy efficiency measures) will be analyzed. Consequently, capacity building measures will be provided to support the related parties in better performing their mandates, enhancing their voices and participation in energy transition progress.

The study on "Co-benefits of energy transition in Viet Nam's industrial development" aims to provide an overview of the localisation of the industrial sector amid the energy transition. It examines various aspects, including policy framework, international experience, current status and the localisation potential of two key technologies: wind and solar power for the period of 2025-2050. On the other hand, this study also serves as a foundation for CASE to conduct more detailed and in-depth policy framework research for localisation in the next stages.

The project is a part of ETP's program, in collaboration with the Department of Oil, Gas, and Coal, Ministry of Industry and Trade, to support the transition of the coal, gas, and oil sectors in Vietnam towards a clean energy future while prioritizing people's well-being. The project aims to identify technical, social, and policy challenges to transition towards renewable energy and produce practical roadmaps to address them. Additionally, the project intends to devise strategies to repurpose coal assets effectively and develop comprehensive social protection packages to support affected workers and communities for social stability in Vietnam. The project aligns with Vietnam's National Energy Master Plan and its commitments to the Paris Agreement.

Decision on launching the Secretariat for the Political Declaration on establishing the Just Energy Transition Partnership.

Leaders from Vietnam and the International Partners Group, including the European Union, the United Kingdom, France, Germany, the United States, Italy, Canada, Japan, Norway and Denmark have today (14 December) agreed a bold Just Energy Transition Partnership (JETP).

The Partnership will support Vietnam to deliver on its ambitious Net Zero 2050 goal, accelerate the peaking of its greenhouse gas emissions and transition away from fossil fuels to clean energy.

The JETP will mobilise an initial $15.5 billion of public and private finance over the next three to five years to support Viet Nam’s green transition.

The Partnership will support Vietnam in working towards a number of ambitious new targets:

• Bringing forward the projected peaking date for all greenhouse gas emissions in Viet Nam from 2035 to 2030.
• Reducing peak annual power sector emissions by up to 30 percent, from 240 megatons to 170 megatons, and bringing forward the peaking date by five years to 2030.
• Limiting Vietnam’s coal capacity to 30.2 gigawatts down from a current planning figure of 37 gigawatts.
• Accelerating the adoption of renewables so that renewable energy accounts for at least 47 percent of electricity generation by 2030, up from the current planned generation share of 36 per cent.

The successful delivery of these ambitious targets will result in around 500 megatons (0.5 billion tonnes) of emissions saved by 2035.

Initial contributions to the Vietnam JETP include $7.75 billion in pledges from the IPG together with the Asian Development Bank and the International Finance Corporation. This is supported by a commitment to work to mobilise and facilitate a matching $7.75 billion in private investment from an initial set of private financial institutions coordinated by the Glasgow Financial Alliance for Net Zero (GFANZ).

Over the next 12 months, Vietnam will work with the support of partner countries to develop and adopt the Viet Nam JETP Resource Mobilisation Plan, which will enable the implementation of the JETP funding and strategy.

Vietnam is the third country to launch a JETP, following the successful launch of the South Africa JETP at COP26 and the Indonesia JETP at this year’s G20 Leaders’ summit. As a rapidly growing economy, Vietnam’s JETP will demonstrate that economic growth can be decoupled from fossil fuel energy consumption.

Political Declaration on establishing the Just Energy Transition Partnership with Viet Nam between the Governments of the Socialist Republic of Viet Nam, together with the International Partners Group, consisting of the European Union, the United Kingdom of Great Britain and Northern Ireland, the United States of America, Japan, the Federal Republic of Germany, the Republic of France, the Italian Republic, Canada, the Kingdom of Denmark and the Kingdom of Norway