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Asian Development Bank supports Vietnam in achieving climate goals

Báo Tài nguyên Môi trườngBáo Tài nguyên Môi trường23/01/2024


Welcoming Mr. Windfried Wicklein, Director General of the Southeast Asia Department of the Asian Development Bank (ADB) and his delegation to work at the Ministry of Natural Resources and Environment, Deputy Minister Le Cong Thanh said: 2023 marks 30 years of ADB cooperation with Vietnam. Accordingly, ADB is a long-standing traditional partner and one of the partners coordinating with the Ministry of Natural Resources and Environment to implement many projects in the environmental field.

Regarding ADB lending in Vietnam and climate finance, ADB's Vietnam Country Partnership Strategy 2023–2026 focuses on two main pillars: green transformation and private sector development. Deputy Minister Le Cong Thanh hopes that ADB will support the Government of Vietnam in reducing greenhouse gas emissions to achieve the net-zero emissions target. At the same time, consider supporting the implementation of the Just Energy Transition Partnership (JETP) and the JETP Resource Mobilization Plan (RMP) announced by Prime Minister Pham Minh Chinh at the COP28 Conference on Climate Change in December 2023; as well as supporting Vietnam in developing carbon markets and cooperation mechanisms under Article 6 of the Paris Agreement.

Following Deputy Minister Le Cong Thanh, Mr. Windfried Wicklein sent his congratulations to Vietnam after the successful activities at the recent COP28. Accordingly, Mr. Windfried Wicklein shared some of ADB's climate focuses in the coming time for the Southeast Asia region in general and Vietnam in particular. He noted that recently, ADB has been shaping itself to become a climate bank, aiming to support the Asia-Pacific region.

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Mr. Windfried Wicklein, Director General of Southeast Asia Department of Asian Development Bank (ADB) and Deputy Minister of Natural Resources and Environment Le Cong Thanh

Accordingly, ADB will continue to support Vietnam in completing its Nationally Determined Contribution (NDC), including sharing financial knowledge with ministries, sectors, the government or the private sector to prepare supplementary plans, implementation plans and investments, helping to ensure the achievement of the targets set out in the NDC.

In addition, the bank also plans to increase investment in energy transition in Southeast Asia and Vietnam.

“We have been working with countries in the region. In fact, we have also received requests from ASEAN countries for energy transition support in groups and on a country-by-country basis,” said ADB Director General of the Southeast Asia Department.

Mr. Windfried Wicklein said that ADB is working with Vietnam Electricity (EVN) to discuss the Battery Energy Storage System (BESS) project. The process is progressing well and it is expected that the project will send a strong signal to the private sector, the international community and investors to attract attention and help Vietnam advance in this field.

ADB is also supporting countries participating in the Partnership for Just Energy Transition (JEPT), including Vietnam and Indonesia. In Indonesia, the bank has supported and worked closely with the Secretariat, the Ministry of Finance, and the Ministry of Energy and Environment to realize energy goals.

ADB has also launched an Energy Transition Mechanism (ETM) initiative, which has established a large energy transition fund, and received contributions from Japan, Germany, New Zealand, etc., to support energy transition and affordable energy for its developing member countries.

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Delegates from the Asian Development Bank (ADB) and the Ministry of Natural Resources and Environment

Acknowledging the sharing from ADB, Deputy Minister Le Cong Thanh highly appreciated ADB's cooperation and support for agencies of the Ministry of Natural Resources and Environment, especially in the fields of climate change, biodiversity and environment, ocean plastic waste management and circular economy.

At the same time, Deputy Minister Le Cong Thanh proposed that ADB further strengthen its partnership in implementing the ongoing project effectively, including supporting the development of Technical Assistance in important policy areas such as climate change; water resources management; circular economy; considering and continuing to support the Project component proposed by the General Department of Hydrometeorology (ADB-10) so that the project can be implemented after approval.



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