Vietnam leads Global Dialogue on Green Growth
Vietnam’s decision to host the Partnering for Green Growth and the Global Goals 2030 (P4G) from April 14-17, 2025, is a timely and significant strategic move.
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| Vietnamese Prime Minister Pham Minh Chinh hosted an official welcome and group photo session with heads of delegations attending the 4th P4G summit. (Photo: Quang Hoa) |
At a moment when global climate commitments are faltering, Vietnam is taking a proactive role in promoting sustainable development. This summit is more than a diplomatic meeting; it is a platform for action, resource mobilisation, and strengthening global partnerships at a critical time.
A timely platform amid weakening commitments
Hosting the P4G Summit is a meaningful initiative for both Vietnam and the international community. At its core, P4G focuses on accelerating market-based solutions for sustainable development goals, particularly in climate action, food systems, water, energy, and circular economy. For Vietnam, this is an opportunity not only to attract vital resources - finance, technology and expertise - needed to push its own ambitious green transition, but also to deepen bilateral and multilateral relationships with P4G member countries (like Denmark, South Korea, Colombia, Ethiopia, Kenya, Indonesia, Mexico, Netherlands, South Africa, Bangladesh) as well as its extensive network of organisational partners.
Besides, the timing of this event elevates its own significance. We are witnessing a troubling trend where climate finance commitments from developed nations are stagnating, being redefined, or shrinking in real values. This shortfall creates a significant credibility gap, exposing a dissonance between the rhetoric of climate leadership often espoused by the developed world and the tangible support provided to developing nations on the front lines of climate change. Developing countries, including India and Vietnam, face the dual challenge of pursuing economic growth while adapting to and mitigating climate impacts, often with limited domestic resources. In this context, P4G, with its emphasis on public-private partnerships, offers a complementary, perhaps even essential, avenue to mobilise the necessary capital and innovation that traditional ODA and climate finance channels are currently failing to deliver at scale.
New Delhi to Hanoi
India and Vietnam, as two dynamic economies in Asia, share a strong foundation for green cooperation. Their strategic partnership, rooted in mutual trust and shared development goals, offers vast potential to advance climate action and sustainable growth. From renewable energy development and smart agriculture to sustainable urban planning and digital innovation, both countries can benefit from knowledge exchange, joint research, and public-private partnerships. By deepening bilateral collaboration, India and Vietnam can not only strengthen their own resilience but also contribute meaningfully to a greener, more equitable future for the region and the world.
A people-centered green transition
The theme of this year’s summit, “Sustainable and People-Centered Green Transition”, resonates deeply with Vietnam’s own development philosophy. This theme rightly emphasises that the shift towards a green economy is not an abstract practice dictated solely by market forces or technological imperatives. It must be fundamentally equitable, inclusive, and improve people’s lives. It acknowledges that transitions - whether in energy, agriculture or industry - have real-world impacts on jobs, livelihoods, and communities. By placing people at the center of the green transition, Vietnam pushes forward an approach that prioritises a just transition, ensuring that the benefits of sustainability are widely shared and that vulnerable populations are not left behind.
Potential of Hanoi declaration
This year’s summit has an opportunity to call for deeper, more equitable partnerships. Key partners like the European Union, Japan, and India, with their technological prowess and investment capacity, are crucial allies in Vietnam’s green journey. The P4G Summit is the ideal platform to articulate the compelling case for increased investment in Vietnam’s burgeoning green economy – from renewable energy infrastructure and sustainable agriculture to electric mobility and circular economy solutions.
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Furthermore, the outcomes of the summit, encapsulated in a “Hanoi Declaration,” could set a new standard for international climate cooperation. Vietnam promotes a model where collaboration is built on mutual respect, shared responsibility, and genuine commitment, rather than being solely dictated by a nation’s GDP. In such a framework, the value of a partner’s contribution is measured by the strength of its climate actions and its willingness to engage constructively, regardless of economic size. This vision for a more inclusive and equitable climate multilateralism, championed from Hanoi, could offer a refreshing and much-needed alternative to existing power dynamics.
Global South rising
As the Global South takes on a greater role in shaping the climate agenda, initiatives like P4G offer practical solutions - mobilising $90 million in investment, supporting over 75 partnerships, cutting 10 million metric tons of CO₂, and improving 1.6 million lives.
In that situation, India stands out as a driving force within this South-South cooperation landscape. With ambitious climate goals - such as achieving net-zero emissions by 2070 and sourcing half of its electricity from renewables by 2030- India’s agenda is closely aligned with P4G’s priorities. As a founding member of the International Solar Alliance, the country actively advocates for clean energy solutions among fellow developing nations. Supported by a robust economy, a dynamic and skilled workforce, and an increasingly favorable policy environment, India is not only attracting significant green investment but also helping to scale innovative climate partnerships. These strengths make India a central actor in advancing a South-led, inclusive response to the global climate crisis.
Conclusion
Vietnam’s hosting the P4G Summit is a testament to its vision and its commitment to shaping a sustainable future, both domestically and globally. It is a strategic move that leverages international cooperation to achieve national development goals while simultaneously contributing to global efforts against climate change. By emphasising a people-centered approach and calling for more equitable partnerships, Vietnam is doing more than just organising a conference - it is initiating a vital dialogue on the future of green growth, sustainability, and international cooperation. It’s a dialogue grounded in multilaterism, ambition, and a firm belief in collaborative action - a dialogue the world cannot ignore.
* Author, Prof. Reena Marwah of University of Delhi is Secretary General, Association of Asia Scholars; Author of India-Vietnam Relations: Development Dynamics and Strategic Alignment (2022); Palgrave Macmillan. This article was first published on The Times of India.
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