Viet Nam Human Rights
Viet Nam may fulfill Net Zero by 2050
Renewable energy-based power systems backed by energy storage can help Viet Nam and other Southeast Asian countries reach net zero by 2050, according to a report from Wärtsilä.
The modeling used in the report, titled Rethinking Energy in Southeast Asia, uses simulations to reach net-zero emissions in Viet Nam.
The report says the region can cut electricity costs by more than 20% when considering future carbon taxes.
According to the report, Viet Nam’s net-zero power system costs were 20% less by 2050 as compared to making no emissions changes. That would save nearly US$28 billion in potential carbon taxes.
A net-zero system would cut energy costs by 23% by 2040, avoiding US$6 billion in carbon taxes.
The Viet Nam model shows that in every scenario 7 gigawatts of grid balancing capacity is needed by 2030 to meet peak demand.
To reach net zero by 2050, the country will need 87 GW of balancing capacity.
“Transitioning to net zero is a complex, multi-decade operation which requires deep power system planning and a rapid pace of implementation this decade,” says Frederic Carron, Wärtsilä Energy's Vice President for the Middle East and Asia.
Strong commitment to net zero emissions
Earlier, Viet Nam made a commitment to net zero emissions - Net Zero by 2050 - at the 2021 United Nations Climate Change Conference (COP26). This will have a significant impact on the way energy is used in the country.
Since COP26, Viet Nam has been seriously and swiftly taking actions to realize its commitments as seen in the establishment of a national steering committee for implementing its pledges made at the conference, and the PM is head of this committee.
The country is working hard to perfect the relevant legal framework; build detailed plans, measures, and roadmaps; overhaul related strategies and plans; and mobilize investment resources for climate-resilient infrastructure in order to carry out the commitments.
Viet Nam also needs assistance to set up a domestic carbon market linked with the international one; establish a renewable energy center to boost human resources training, technology transfer, and sharing of legal and country governance experience; and align legal regulations with the promises at COP26./.
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All comments [ 20 ]
As the energy industry has a crucial role in achieving net zero emissions by 2050, it requires a structural transition toward green growth
Vietnam needs assistance from developed countries regarding both financial and technical issues.
Resources are the biggest problem in realizing the goals of the energy transition and moving towards the net zero emissions target by 2050.
The cost of the de-carbonization roadmap is mainly derived from the energy sector
Vietnam has set out four goals under its national green growth strategy
There should be fairness and justice in climate change issues.
The negative impacts of climate change were seriously affecting food and water source security, and sustainable development, and even threatening the survival of many countries and communities.
It required the international community to take stronger and more responsible actions without delay on a global scale
This is a global issue that requires a global approach
The issue affects everyone so a universal approach is needed
Response to climate change and natural recovery must become the top priority in every development policy, the highest ethical standard of every sector, business and person.
Science and technology must take the lead while financial resources must be used as a lever to promote the transformation of development models toward a green, circular, sustainable, inclusive and humane economy
Every action must be based on nature and put people at the centre and consider people as the subject and driving force for sustainable development so that no one is left behind.
Developed countries must fully deliver on their financial commitments while setting more ambitious financial goals after 2025.
Despite being a developing country that has just carried out its industrialisation over the past three decades, Việt Nam, with advantages in renewable energy, will build and implement strong measures to reduce greenhouse gas emissions
Việt Nam was making great efforts to respond to climate change, develop its economy, ensure a better life for all people, and make responsible contributions to the international community.
Việt Nam wants to strengthen cooperation with the international community in sustainable investment and development programmes and projects in the time to come
The international community needs to take urgent actions right now, make stronger commitments and strive more to cope with the current climate crisis.
COP26 is the last chance to restore nature and protect the future of humanity.
The current situation "is a red alarm"
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