By harnessing opportunities across sectors—particularly in power—Vietnam could potentially accelerate decarbonization to achieve net-zero emissions by 2050.
Vietnam is more exposed to climate risk than nearly any other country in the world. By some estimates, it is one of the top five countries likely to be most affected by climate change.1 Barring adaptation and mitigation measures, the country could face severe social and economic consequences.
Stakeholders across the country understand this reality and have begun making pledges and announcing policies aimed at reducing greenhouse-gas (GHG) emissions. At the UN Climate Change Conference in Glasgow (COP26) in 2021, Prime Minister Pham Minh Chinh announced the country’s commitment to phase out coal power generation by the 2040s and achieve net-zero carbon emissions by 2050. Most recently, in its National Strategy on Climate Change, Vietnam announced a 43.5 percent emissions-reduction target by 2030, sector-specific emissions targets for 2030 and 2050, and qualitative suggestions for achieving these goals.2
While these are praiseworthy goals, they are unlikely to propel Vietnam to net-zero emissions by 2050 on their own. Carrying out that mission will require more detailed and specific actions. To sketch out one possible scenario for Vietnam to achieve its climate ambitions, we conducted a bottom-up analysis of the country’s key economic sectors and the required emissions trajectory. Carefully focused and aggressive actions to reduce emissions across sectors of the economy, especially in power, could put Vietnam on a path to potentially achieve net-zero emissions by 2050.
This transition won’t be easy. Vietnam faces structural challenges, and the transition will require considerable investment—as well as significant mindset and operational changes. Nonetheless, by building on existing efforts and engaging across sectors, Vietnam could realize its commitments and help keep global warming below key thresholds.
Such actions would also improve health outcomes, provide access to new sustainable value pools, and grow GDP.
The net-zero imperative and progress to date
Tiếp tục đọc “Charting a path for Vietnam to achieve its net-zero goals”
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