Vietnam's climate change response could cost up to US$92 billions by 2030
Climate change has affected sectors and localities across Vietnam and posed a direct threat to sustainable development and poverty reduction.
THE HANOI TIMES — Vietnam will need between US$55 billion and $92 billion to fully adapt to climate change by 2030, as calculated in the country's updated National Adaptation Plan (NAP).
With the state budget covering only a fraction of costs, Vietnam expects to mobilize an additional $6 billion annually from non-budget sources.
Armed forces help residents in Vietnam's northern province of Dien Bien to deal with flash flood and landslide consequences. Photo: VNA
Vietnam is among the 65 countries that have submitted their updated NAPs to the Secretariat of the United Nations Framework Convention on Climate Change (UNFCCC), a step that fulfills the country’s international obligations and demonstrate its determination to strengthen resilience against increasingly severe climate impacts.
On November 19, 2024, the Vietnamese Government approved the updated NAP for the 2021-2030 period with a vision toward 2050. The Ministry of Agriculture and Environment finalized the updated NAP report and submitted it to the UNFCCC Secretariat.
The updated version highlights Vietnam’s efforts to strengthen climate resilience, promote international cooperation and mobilize resources for adaptation measures, contributing to the delivery of the country’s Nationally Determined Contributions.
The report outlines Vietnam’s overarching goal of reducing risks and losses from climate change while enhancing the resilience of its natural, economic, and social systems. It also sets a long-term vision in which climate adaptation becomes an integral part of all national development strategies and plans.
The report conveyed a message that Vietnam stands ready to join the international community in tackling climate change through shared resources and knowledge.
