Prime Minister Pham Minh Chinh speaks at the second session of the expanded Summit of the Group of Seven (G7) in Hiroshima, Japan. (Photo:VNA)Hiroshima (VNA) – Prime Minister Pham Minh Chinh onMay 20 emphasised the importance of a global approach, multilateralism, self-reliance of every country, and extensive internationalcooperation to realise sustainable development, climate change responses,emission reduction, and energy transition.
Attending the secondsession of the expanded Summit of the Group of Seven (G7) in Hiroshima, Japan, he raised Vietnam’s point of view onensuring fairness and reasonableness, taking into account the differentconditions and levels between countries; ensuring a strategic balance betweenclean energy transition and global energy security; and developing fair,diversified, highly practical energy transition roadmaps in line with marketrules.
Chinh emphasised that human resources, science, technology,and innovation are the central driving force for the sustainable development ofall countries, the key to solving the issue of ensuring both rapid and sustainablegrowth.
He proposed G7 countries and international organisations tostrengthen support for developing countries in technology transfer, capacitybuilding in institutions, infrastructure, human resources, governance methods,and building an ecosystem for clean energy development.
PM Chinh said that the effective mobilisation and use ofresources is the key factor for sustainable development. G7 countries should prioritise the timely and effective implementation of financial commitments fordevelopment, meeting the urgent requirements of debt relief, relaxation, andrestructuring for poor countries.
The Vietnamese PM suggested that it is necessary to take acreative approach to mobilising diverse financial sources, focusing onpublic-private partnership (PPP), mixed-finance associated with theparticipation of the private sector, and foreign investment.
As for Vietnam, he affirmed the country’s determination toachieve the goal of bringing net emissions to zero by 2050 even though Vietnamis still a developing country in transition and experiencing difficulties due to wars.
PM Chinh emphasised his support for Japan's initiative - Asia Zero Emission Community (AZEC) and suggested that G7 countries and partnerscontinue to accompany Vietnam in implementing the agreement on Just EnergyTransition Partnership (JETP); and contribute to help Vietnam promote its potentialand advantages, become a regional renewable energy centre, deeply participatein supporting industrial production chains in clean energy and circulareconomy.
He also announced Vietnam’s National Power Development Planfor the period 2021-2030 with a vision to 2050, withpriority to renewable energy development.
Chinh said he hopes Vietnam will continue to receive support and effective cooperation inthe management and sustainable use of water resources, improving capacity torespond to climate change and sea level rise, especially in its Mekong Delta,as well as supporting the sustainable development of the Mekong Sub-region.
At the meeting, many leaders agreed with Vietnam on theimportance of international solidarity and cooperation in responding to globalchallenges, emphasising the need to quickly make up the shortfall in financefor climate change adaptation. They also supported Vietnam's view onbalancing the implementation of the net zero emissions target with ensuringenergy security.
Many countries emphasise that the energy transition can becarried out with many different routes, suitable to the circumstances andconditions of each country. G7 countries affirmed their determination toimplement new initiatives such as JETP, Green Climate Fund, and Global Infrastructure and InvestmentPartnership (PGII).
Developing countries proposed to promote cooperation intechnology transfer, concessional financing, technical assistance, andimplementation of the commitment of 100 billion USD for climate finance ofdeveloped countries.
Many countries also suggested promoting diversification ofthe supply chain, ensuring the supply of essentials for clean energydevelopment.
Within the framework of the session, PM Chinh attended the event on the PGII Initiative – an important initiative of the G7group in promoting high-quality infrastructure investment in developingcountries through the public finance mobilisation and the public-private partnership./.
