Vietnam wants G7 progress on climate finance
UK is expected to help the country earn G7 climate finance soon to realize its low-carbon path, which is estimated to cost US$350-$400 billion by 2050.
UK is expected to help the country earn G7 climate finance soon to realize its low-carbon path, which is estimated to cost US$350-$400 billion by 2050.
The fund will be part of the ASEAN Green Recovery Platform launched at COP26.
The five-day visits of Vietnam’s National Assembly Chairman Vuong Dinh Hue to Hungary and the UK marked a new milestone in bilateral relations, eventually contributing to the Vietnam-EU partnership.
Vietnam’s commitments at the COP26 showcase its strong political will in the fight against climate change and transitioning to a green economy.
Vietnam and the UK would strengthen cooperation in green finance, and digitalization of the financial sector, with the UK's assistance in providing the required resources for Vietnam to realize its commitments at the COP26.
UK trade minister Anne-Marie Trevelyan said the country wants to be a part of Vietnam’s development story in the 21st century, and fostering bilateral trade relations is among its priorities.
Vietnam remains supportive and would serve as the bridge for the UK to expand its partnership with ASEAN, calling for the UK parliament to support ASEAN’s central role in the region, as well as Vietnam’s stance on regional security issues.
The UK is willing to support Vietnam in realizing the latter’s commitments made in COP26.
With UK’s expertise in renewables development and Vietnam’s huge natural resources, experts expect a win-win situation for both sides in promoting green growth.
Vietnam continues to be a key partner of the UK in the region, especially as the UK prioritizes greater cooperation with the India-Pacific region.