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Feb 18, 2022 / 11:43

Vietnam seen as inspiring model in sustainable development: EC Vice Chairman

The EU stands ready to support Vietnam’s realization of its commitments at the COP26, including the formation of the carbon market.

The EU is impressed with Vietnam’s strong commitments at COP26 and also of its stands at the 15th UN Biodiversity Conference (COP15), for which the country remains an inspiring model for developing countries in sustainable development.

 Minister of Natural Resources and Environment Tran Hong Ha and EC Vice President Frans Timmermans. Source: MARD

Vice President of the European Commission Frans Timmermans gave the remarks during a meeting with Vietnam’s Minister of Natural Resources and Environment Tran Hong Ha on February 17.

According to Timmermans, the EU stands ready to support Vietnam’s realization of its commitments at the COP26 and also the path towards the formation of a carbon market.

In this regard, Minister Ha noted right after COP26, Prime Minister Pham Minh Chinh has set up a national steering committee on the implementation of Vietnam’s commitments at COP26 with the participation of senior government officials.

Ha added that Vietnam has also transposed climate change responses into the Law on Environment Protection in 2020, along with other Government decrees in the reduction of greenhouse emission and protection of the ozone.

 Delegates at the meeting. 

“The Government is determined to further push for realizing progress achieved at the COP26, including the perfection of regulations and laws on climate change response, promoting a green economy and greater climate-resilience,” Ha added.

In terms of Vietnam’s commitments for net-zero carbon emission by 2050, Ha expected Vietnam to phase out coal power and push for the development of offshore wind and solar powers; adjust objectives under Vietnam’s green strategy to be in line with the 2050 target.

He also mentioned the development of the carbon market in Vietnam, to operate a carbon credit exchange by 2028 which is connected with that of the region and the world.

Ha noted Vietnam fully supports the post-2020 Global Biodiversity Framework (GBF) while calling for the EU to share experience in the biological preservation for the sustainable development of each country and the efforts against climate change.

In addition, Ha expected the EU to provide technical assistance for Vietnam in transposing commitments at COP26 into laws, especially the net-zero carbon emission target by 2050.

Ha called for greater cooperation between the two sides in the implementation of energy transition projects; the development of the carbon market in Vietnam; forest preservation and methane emission reduction.