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| Prime Minister Pham Minh Chinh co-chaired the event 'Mobilizing finance to implement Vietnam's commitments on climate change' at COP 28. (Source: VNA) |
Also attending the event were Minister of Natural Resources and Environment Dang Quoc Khanh, Minister and Head of the Government Office Tran Van Son, leaders of central ministries and branches, Mr. Bill Winters - Global CEO of Standard Chartered Bank and senior representatives of multinational corporations, domestic and international enterprises.
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| Mr. Bill Winters, Global CEO of Standard Chartered Bank, speaks. (Source: VNA) |
Speaking at the event, Prime Minister Pham Minh Chinh stated that two years ago, at the COP26 Conference, the countries attending the Conference jointly committed to achieving net zero emissions, energy transition, reducing methane emissions, protecting forests and enhancing adaptive capacity to protect communities and the natural environment.
Speaking at COP26, Prime Minister Pham Minh Chinh pointed out that the world is facing enormous challenges such as resource depletion, climate change, and population aging. These are global, all-people issues, so there must be a global approach, promoting international solidarity and multilateralism; at the same time, there must be a people-centered approach, with people as the center, goals, subjects, resources, and motivations.
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| Prime Minister Pham Minh Chinh speaks at the event. (Source: VNA) |
Sharing with delegates attending the fundraising event, the Prime Minister said that Vietnam is a developing country with a transitional economy, modest economic scale, high openness, and limited resilience. However, Vietnam still fulfills its international commitment to achieve zero net emissions by 2050 to help cool the Earth and develop sustainably, stably, and long-term with the world. To achieve that goal, Vietnam needs support in finance, infrastructure, technology, governance, and human resources.
Vietnam has made continuous efforts to improve its policies with many actions to implement its commitment to bring net emissions to "0" by 2050, such as updating the Nationally Determined Contribution (NDC) in 2022; issuing the National Strategy on Climate Change for the period up to 2050; approving the Power Plan VIII, the National Energy Master Plan, etc.
Vietnam has been implementing many important projects such as green transport transition, low emissions; developing offshore wind power projects, developing energy storage technology, developing renewable energy ecosystems... Vietnam has identified the goal of developing a suitable ecosystem to build a renewable industry with fast and sustainable growth.
Notably, Vietnam is one of the first three developing countries (along with Indonesia and South Africa) to join the Just Energy Transition Partnership (JETP). At COP28, Vietnam announced its Resource Mobilization Plan for a Just Energy Transition, the first country to do so.
Along with that, Vietnam is implementing the 1 million hectare high-quality, low-emission rice project in the Mekong Delta. According to the Prime Minister, this may be the only green food development program in the world to date.
The Prime Minister affirmed that the above works show Vietnam's efforts in recent years to both prevent and fight the pandemic, recover and develop the socio-economy, and fulfill commitments on emission reduction and climate change response. Currently, Vietnam has a very good macroeconomic foundation to create room for development in the coming years, while promoting green transformation, digital transformation, developing a circular economy, and sharing economy.
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| Prime Minister Pham Minh Chinh and Mr. Bill Winters, Global CEO of Standard Chartered Bank witnessed the exchange of cooperation documents. (Source: VNA) |
On this occasion, the Prime Minister requested that organizations and businesses establish a new vision, new thinking, new determination and take more drastic actions, with breakthrough, comprehensive, comprehensive, innovative and creative solutions, accompanying the Government in implementing climate change response goals in a practical and effective manner.
The Prime Minister proposed developing partnerships, mobilizing public-private partnerships, using public investment to lead private investment; innovating climate finance mechanisms; paying attention to human resource training, innovating governance and developing digital and green infrastructure. The general spirit is that mechanisms and policies must be open, infrastructure must be transparent and governance must be smart.
The Prime Minister called on financial institutions, development funds, and countries to join the Vietnamese Government in implementing green transformation goals, contributing to helping Vietnam successfully transform its energy system, fulfill its commitment to achieving net zero emissions by 2050, and join hands with the world to protect the Earth, cool the Earth, and develop sustainably, leaving no one behind.
The Global CEO of Standard Chartered Group said that the Group is very proud to contribute to Vietnam's development process, especially in Vietnam's emerging and priority areas such as digital economy and green economy; highly appreciates Vietnam's innovative approach in responding to the common challenge of climate change.
He assessed that the commitments and efforts made have shown that Vietnam is an attractive and trustworthy partner to continue investing in. He was very pleased with the Prime Minister's sharing and wished to continue working with all parties to achieve the goal of net zero emissions, develop and grow together, and help people's lives become better and better.
Prime Minister Pham Minh Chinh witnessed the signing of cooperation agreements between Vietnamese agencies and international partners on green development, including: Memorandum of Understanding between the Ministry of Natural Resources and Environment of Vietnam and the World Economic Forum; Memorandum of Understanding between BIDV and the Asian Development Bank (ADB); Memorandum of Understanding between Standard Chartered Bank and SOVICO Group on ESG implementation consulting and arranging capital for green projects; Memorandum of Understanding between Standard Chartered Bank and Green Solutions; Memorandum of Understanding between Standard Chartered Bank and GuarantCo; Memorandum of Understanding between Standard Chartered Bank and BIDV; Memorandum of Understanding between Vietinbank and Japanese bank MUFG; Memorandum of Understanding between Standard Chartered Bank and PAN; Memorandum of Understanding between Honeywell Group and The Green Solutions Vietnam.
* On this occasion, the Prime Minister received Mr. Bill Winters - Global CEO of Standard Chartered Group. The Prime Minister highly appreciated and thanked the Group for its practical and effective contributions to Vietnam's economic development; and Standard Chartered's efforts and actions in investment activities, supporting the realization of sustainable development goals and climate change response in Vietnam. The Prime Minister said that Vietnam is a very potential market with an increasingly favorable investment and business environment, helping to reduce input costs and compliance costs for businesses; the legitimate rights and interests of investors are guaranteed. Investors, including Standard Chartered, can rest assured to do long-term business in Vietnam. To achieve the goal of net zero emissions, Vietnam needs huge resources. The Prime Minister asked Standard Charter Group to continue to accompany and support Vietnam in implementing its commitments to respond to climate change, especially in the equitable energy transition. |
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