The partnership between Vietnamese and European business communities is essential to meeting Viet Nam’s commitments to the UN Climate Change Conference (COP26), said the chairman of the European Chamber of Commerce in Vietnam (EuroCham Vietnam) at a press conference in HCM City yesterday.

Speaking at the press conference, Alain Cany said climate change, circular economy, energy resources and green financing would top the agenda of the Green Economy Forum and Exhibition 2022 to be held in HCM City from November 28 to 30.

Organised by EuroCham Vietnam, the event aims to support Viet Nam in achieving its COP26 commitments through several green European innovations and sustainable solutions.

The event also aims to help the country to achieve the socio-economic development goals specified in its National Green Growth Strategy for 2021-2030, he added.

It will also help improve the cooperation between European and Vietnamese business communities and promote a sustainable green Vietnamese economy through expertise sharing and technology transfer initiatives.

The forum is expected to offer a platform for all stakeholders to discuss green policy frameworks, national energy plans, and climate risks, opening up opportunities for cooperation in low-emission growth, promoting circular economic development and climate change adaption.

An exhibition will host more than 200 companies offering green innovations and sustainable solutions.

EuroCham Vietnam and exhibition organiser Reed Tradex Vietnam yesterday signed a memorandum of intent to collaborate on the organisation of the upcoming event and future iterations of the event.

The event will host experts, academics, innovators, students, and governmental representatives from Europe, Viet Nam and other countries across Southeast Asia.

COP26 commitments

Last November, Prime Minister Pham Minh Chinh announced strong commitments to tackle climate change at the UN Climate Change Conference.

The commitments build on the recent boom in solar and wind power and the need to ensure Viet Nam’s competitiveness in a world where low-carbon energy and environmental sustainability are key to attracting international investment.

The PM emphasised that Viet Nam would also implement strong emissions reduction measures to achieve net-zero emissions by 2050.

Viet Nam has agreed to support several vital statements and initiatives on protecting forests, shifting to clean energy, supporting adaptation for local communities, and methane reduction.

Low-emission development will be the key trend for Viet Nam to continue changing from a fossil energy and resources development model to a low-emission model.

To realise the COP26 commitments, Viet Nam will issue a decree on mitigating greenhouse gas emissions and protecting the ozone layer and develop a project of tasks and breakthrough solutions to implement the results of COP26.

The country will also complete the National Strategy on Climate Change, including the goal of net-zero emissions by 2050, develop an action plan to reduce methane emissions by 2030 and implement the National Strategy on Green Growth and carbon pricing tools.

It will work to enhance international cooperation to implement the Paris Agreement and commitments made by the Prime Minister at COP26.

Viet Nam is considered one of the countries most affected by climate change and has large total annual greenhouse gas emissions, currently ranking 21st in the world and second in ASEAN. — VNS