MoNRE holds consultation on draft resource mobilisation plan for JETP Political Declaration

WVR/VNA - on August 11, in Hanoi, the Ministry of Natural Resources and Environment (MoNRE) held a consultation workshop to discuss a draft resource mobilisation plan to implement the Political Declaration on establishing the Just Energy Transition Partnership (JETP).
MoNRE holds consultation on draft resource mobilisation plan for JETP Political Declaration
MoNRE holds consultation on draft resource mobilisation plan for JETP Political Declaration: Resident Representative of the UN Development Programme (UNDP) in Vietnam Ramla Khalidi speaks at the event. (Photo: VNA)

The event attracted representatives of international partners, international organisations, the Glasgow Financial Alliance for Net Zero (GFANZ), businesses, non-governmental organisations (NGOs), ministries, sectors, experts, and scientists.

Delivering the opening remarks, MoNRE Deputy Minister Le Cong Thanh said the Secretariat for the implementation of the Political Declaration hopes to receive suggestions of projects for the JETP plan.

These projects should match the framework criteria to help Vietnam properly carry out the National Power Development Plan VIII and the national energy master plan. They should match the priorities of Vietnam and partners, and be feasible in terms of technology and resources so that they could be implemented immediately. Priority is given to breakthrough projects that can help accelerate energy transition in the country, he noted.

British Ambassador to Vietnam Iain Frew expressed delight from the group of international partners as they enter the next phase of the Political Declaration implementation by preparing for the resource mobilisation plan.

He considered this a chance to map out a path for achieving Vietnam’s ambition of just energy transition to boost growth, aid the realisation of national socioeconomic targets, and enhance energy security and competitiveness.

Thomas Wiersing, Chargé d’Affaires a.i. of the EU Delegation to Vietnam, emphasised the willingness to closely cooperate with all key ministries of Vietnam as well as the society in general, including NGOs, State-owned enterprises, the private sector, and research groups to ensure broad consensus in society.

Meanwhile, Resident Representative of the UN Development Programme (UNDP) in Vietnam Ramla Khalidi held that the country’s success in creating a clear roadmap towards a green, low-carbon, and climate-resilient economy is not only urgent to its prosperity but also a test case for proving the effectiveness of global joint actions. That is the strength of just energy transition.

At the event, participants gave recommendations about the structure and content of the resource mobilisation plan to ensure it accords with the Political Declaration on the JETP establishment, and the building of a roadmap for implementation of programmes and projects. The group also discussed the framework criteria for selecting just energy transition projects and activities to be included in the resource mobilisation plan, and finances for the Political Declaration. Policy actions to increase investment in energy transition were also discussed, together with the implementation and governance of the declaration, and projects to be included in the resource mobilisation plan.

In December 2022, the Political Declaration on the JETP establishment was adopted and announced by Vietnam and the G7 and non-G7 countries within the framework of the summit commemorating the 45th anniversary of the ASEAN - EU dialogue relations in Brussels, Belgium.

The partners pledged to initially mobilise 15.5 billion USD in the next three to five years to meet Vietnam’s just energy transition demand.

To carry out the Political Declaration, the MoNRE has coordinated with other ministries and sectors to draft and submit an implementation plan to the Prime Minister for approval. The Secretariat for the declaration implementation, set up by the Prime Minister on July 14, 2023, was chaired by the MoNRE Minister.

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(Source: WVR/VNA)