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Jun 02, 2021 / 05:35

Recovery should be in consonance with green growth: Vietnam PM

Vietnam, one of seven founding members, vows to pursue sustainable development but short-term economic growth.

The urgent need for economic recovery and green and sustainable development must be harmonized in the post-Covid-19 era, requiring international efforts.

 Vietnam’s Prime Minister Pham Minh Chinh at the event. Photo: VGP

Vietnam’s Prime Minister Pham Minh Chinh made the statement at the Partnering for Green Growth and the Global Goals 2030 (P4G) Summit chaired by South Korea on May 30-31 with the attendance of nearly 70 high-ranking leaders of P4G member states, the UN, the Intergovernmental Panel on Climate Change (IPCC), the International Monetary Fund (IMF), the Organization for Economic Co-operation and Development (OECD), and the International Energy Agency (IEA).

Chinh said challenges caused by the pandemic, climate change, and exhaustion of natural resources threaten the current and future development.

Challenges will also enable countries to realize the importance of living environment and the harmony of human and nature.

To speed up the process, Chinh proposed recommendations, including:

The green and inclusive economy must be done at the national, regional, and international scale within the UN 2030 Sustainable Development Goals (SDGs) and the Paris Agreement.

The green transition needs suitable and well-prepared roadmap for each country, to which, developed nations should take the lead in the forefront of their emissions reduction commitments, while providing financial, technological and institutional support to developing countries and those heavily affected by climate change.

It requires the participation of all stakeholders, especially public-private partnership in green growth, new supply chains and industries.

In addition, it improves the adaptive capacity of climate-stricken places, including the Mekong Sub-region and the Mekong Delta, promoting international cooperation in the management and sustainable use of transboundary water sources, contributing to ensuring food and water security of the region and the world.

It becomes urgent for countries to prevent and push up Covid-19 and promote vaccine access, relax travel restrictions, maintain globalue supply chain, and boost international trade and investment.

The last but not least is to uphold the spirit of solidarity, responsibility, respect for the common interests of all mankind, and ensure international environment of peace, stability, cooperation and development.

Chinh emphasized that Vietnam will certainly not pursue merely economic growth at the expense of social progress and equality.

“We’re committed to protecting the environment for the people,” he noted.

 South Korea President Moon Jae-in and participants at Leaders' Dialogue. Photo: Yonhap

Chinh joined the session of 15 high-ranking leaders namely John Kerry, US special presidential envoy for climate, Danish Prime Minister Mette Frederiksen, the Netherlands Prime Minister Mark Rutte, Thailand’s Prime Minister Prayut Chan-o-cha, Ursula von der Leyen, president of the European Commission, and Kristalina Georgieva, managing director of the International Monetary Fund.

They provided their views on green recovery, carbon neutrality and public-private partnerships.

“We reaffirm that the fight against Covid-19 leaves important lessons for the global response to the climate crisis and believe that the pandemic should be overcome through green recovery as a progressive strategy,” the Seoul Declaration stated.

“The extent to which the green recovery is implemented may reshape our economy and society and also be a turning point in our journey to achieve the goals of the Paris Agreement as well as the Sustainable Development Goals.”

P4G is a partnership among 12 countries namely Bangladesh, Chile, Colombia, Denmark, Ethiopia, Kenya, Indonesia, Mexico, the Netherlands, the Republic of Korea, South Africa and Vietnam. It represents more than one billion people and 8% of global gross domestic product (GDP). All have committed to the Global Goals and the Paris Agreement and have enacted measures to support sustainable, green growth.

Vietnam is one of the seven founding members and official partners of P4G. In July 2018, Vietnam announced the formation of its National P4G Forum.