On the morning of September 20 (New York time), at the United Nations headquarters, Prime Minister Pham Minh Chinh led the Vietnamese delegation to attend the Climate Ambition Summit.

Speaking at the conference, leaders of countries and international organizations expressed concern about the severe impacts of climate change. Therefore, responding to climate change is a common responsibility, the international community needs to act urgently, strengthen cooperation and solidarity to solve this problem.

The conference was attended by many senior leaders of countries and many international organizations.

Countries call for a gradual reduction in the use of fossil fuels, a just green transition, balancing adaptation finance with mitigation finance, and reform of the global financial system.

UN Secretary-General António Guterres has called on countries to set ambitious greenhouse gas emission reductions in line with the goal of keeping global temperature rise to 1.5oC. Large emitters should take the lead in reducing greenhouse gas emissions, with developed countries aiming to achieve net zero emissions by 2040 at the latest, and major emerging economies by 2050.

The United Nations Secretary-General stressed that developed countries need to support developing countries in accordance with common but differentiated responsibilities.

Comprehensive reform of the global financial system

Speaking at the conference, Prime Minister Pham Minh Chinh emphasized that climate change continues to be the biggest global challenge, directly impacting and causing heavy losses to economic development, social security and directly to the safety of people's lives and health.

The Prime Minister said that solving this problem requires a global and national approach, with breakthrough, comprehensive, innovative and creative solutions.

Prime Minister Pham Minh Chinh. Photo: Duong Giang

The head of the Vietnamese Government called on countries to act more urgently, more strongly and more responsibly to minimize the increase in the Earth's temperature.

In addition, the Prime Minister also proposed establishing a new vision, new thinking, new determination, and drastic actions for green development, net zero emissions; and accelerating the process of fair and equitable green energy transition.

In which people are the center, the subject and no one is left behind. At the same time, it calls on developed countries and international organizations to actively support developing and underdeveloped countries in green technology, green finance, green management and green human resource training; build renewable energy industry and smart power transmission systems...

The Prime Minister also proposed building new-generation partnerships, promoting the mobilization of green finance for climate in the form of public-private partnerships, in which public investment leads private investment.

Developed countries and international partners need to double their financing for climate change adaptation by 2025 and put the Loss and Damage Fund into operation at COP28 as committed, in order to support developing and least developed countries to overcome the consequences of climate change.

At the same time, it is necessary to continue to comprehensively reform the global financial system to increase the ability to provide green finance, helping the world better respond to the major challenges of climate change.

The Prime Minister shared that Vietnam is one of 30 countries submitting their Nationally Determined Contributions (NDCs) and one of the first three developing countries to join the Just Energy Transition Partnership (JETP).

Vietnam is working with international partners to develop a resource mobilization plan to be announced at COP28 with the hope of making this partnership model a model, contributing to promoting the trend of equitable energy transition globally.

On this occasion, the Prime Minister affirmed that Vietnam is determined to fulfill its commitment to achieve net zero emissions by 2050 and, with the full support of the international community, strive to rapidly reduce greenhouse gas emissions by 43.5% by 2030 and achieve a renewable energy ratio of more than 70% by 2050.

vietnamnet.vn