According to the Ministry of Planning and Investment, resources are the biggest problem in realizing the goals of the energy transition and moving towards the net zero emissions target by 2050.
Under the World Bank’s calculation, to achieve net zero emissions, Vietnam needs an additional 368 billion USD during 2022-2040, approximately 6.8% of GDP each year.
Of which, the building resilience process alone will account for about two-thirds of this amount because a significant amount of capital needs to be mobilized to protect assets and infrastructure as well as vulnerable populations.
The cost of the de-carbonization roadmap is mainly derived from the energy sector, including the expense of investing in renewable energy and managing the transition away from coal, which could cost about 64 billion USD during the 2022-2040 period.
Vietnam has set out four goals under its national green growth strategy, which are to reduce greenhouse gas emissions per GDP, to green economic sectors, to green lifestyles and promote sustainable consumption, and to green the transition on the principles of equality, inclusion, and resilience./.
