Canada is willing to share experiences and prepared to deploy Canadian technologies to assist Việt Nam in addressing the “real climate change challenges” facing the country, Canadian Minister of International Development Ahmed Hussen told media during his visit to Việt Nam.
The official said that Việt Nam and Canada shared the same goals when it comes to climate change and the environment, especially with the two countries both committed to achieving net zero emissions by 2050.
The two countries are also committed to a transition to renewable energy and a green economy that benefits everyone.
In the past, Canada has already collaborated with Việt Nam to tackle the issue of industrial pollution, he noted, and in future, Canada’s international development assistance will work with Việt Nam to achieve net zero by 2050, a just energy transition and help deal with the adverse impacts of climate change particularly to coastal communities in this country.
Minister Hussen said: “A significant portion of the CAD$40 million that’s in the pipeline in a new period of international development assistance from Canada will address Việt Nam’s climate change challenges.
“In that regard, Canada will continue to be a partner not just in addressing threats, but also in how we take advantage of these new opportunities that are presented by green technology, by renewable energy.
“Our development dollars should lead to Việt Nam being in a better position to benefit from those opportunities. So that includes capacity building, there’s a potential project that will partner with the World Bank and the Government of Việt Nam, hopefully, will be concluded soon, that will enable us to do that.
“There are other bilateral projects that enable us to tackle specific challenges concerning climate change and different impacts of it. But the point is, Canada is very much seized with the importance of working with Việt Nam, to enable Việt Nam to deal with the challenges.
“With regards to energy, Việt Nam has a growing population and a growing economy, so there’s a higher and higher demand every year for more energy,” the official said, adding that Canada is prepared to work with Việt Nam to address the challenge of distribution of the grid, and renewable energy generation and storage.
Global Carbon Pricing Challenge
With regards to the Canada-led Global Carbon Pricing Challenge, Vietnamese Minister of Natural Resources and Environment Đặng Quốc Khánh during a working session with the Canadian official has informed that the ministry has submitted for the Government to review and approve the policy of Việt Nam participating in the initiative, which Khánh has discussed with his Canadian counterpart Steven Guilbeault while the two met in Dubai for COP28.
Minister Khánh said that this initiative is important in promoting the reduction of greenhouse gas emissions globally, and participation in the initiative will open up opportunities to access and develop the domestic carbon market, take advantage of financial and technical support sources, and share experiences to improve capacity, which will contribute to achieving the Việt Nam’s development goals and international commitments on climate change.
Minister Hussen told Minister Khánh that Canada is ready to support Việt Nam in addressing climate change and going forward with energy transition efforts, but the implementation will require engagements from many stakeholders, nations, organisations and the public and private sectors so he hoped the environment ministry of Việt Nam would advise to the Government on how to best create conditions for all interested parties to join and contribute to this common cause.
Minister Hussen said Canada encouraged and will continue to encourage Việt Nam to join this initiative.
In terms of support for the initiative, Canada has an ongoing project which is about adopting high quality carbon markets in Việt Nam in the agro-forestry sector.
“This is a CAD$7 million project and it’s about improving climate governance through high-quality, inclusive and gender-responsive forestry, carbon market development, developing the market for carbon so that Việt Nam is able to join many countries that have put a price on pollution, that have enabled the disincentivising of pollution so that you can incentivise the investment in renewable energy,” Minister Hussen said.
When a market is set up, it provides predictability to the private sector and stability needed for them to participate, which means a market will enable private sector actors to fund and implement carbon projects, according to the official.
With regards to questions over Canada’s response to Prime Minister Phạm Minh Chính’s proposal for Canada to involve/invest in developing large-scale, significant transport projects, especially climate-sensitive ones, Minister Hussen said Canada will always consider whatever requests come from the Government of Việt Nam, in line with its own targets.
(VNS)
