On the afternoon of February 20, Deputy Minister of Industry and Trade Nguyen Hoang Long chaired a meeting in Hanoi to discuss the JETP Secretariat’s 2025 Work Plan and exchange views on partner recommendations for implementing JETP projects.
Representatives from various ministries, including the Ministry of Foreign Affairs, Ministry of Transport, Ministry of Natural Resources and Environment, Ministry of Planning and Investment, Ministry of Finance, and State Bank of Vietnam, attended, as well as representatives from corporations and banks, such as Standard Chartered and Mizuho.
In his remarks, Deputy Minister Nguyen Hoang Long stated that the Just Energy Transition Partnership (JETP) is an international commitment and a political declaration by Vietnam announced in December 2022. It is part of Vietnam’s cooperation with the International Partners Group (IPG), which includes G7 nations, Denmark, and Norway. The agreement aims to support Vietnam in mobilizing $15.5 billion in public and private finance over 3 to 5 years for its energy transition journey.
Following the Prime Minister’s directive at the 5th meeting of the National Steering Committee on Vietnam’s COP26 Commitments, the Ministry of Industry and Trade has assumed the role of Permanent Secretariat of JETP and works with international partner focal points (including the EU and the UK) to review and select breakthrough projects to accelerate Vietnam’s energy transition.
Deputy Minister Nguyen Hoang Long emphasized that after Vietnam’s commitment at COP26, the country swiftly outlined tasks and solutions to fulfill its pledges, including amending and issuing legal frameworks and policies to address challenges and accelerate energy transition projects, contributing to the goal of achieving net-zero emissions by 2050.
The meeting was divided into two sessions and chaired by Deputy Minister Nguyen Hoang Long. In the first session, delegates heard a presentation by Ms. Ramla Khalidi, UNDP Resident Representative in Vietnam, on UNDP’s support activities for the JETP Secretariat. Ms. Ramla stated that in 2024, stakeholders reviewed, selected, and proposed eight priority projects under JETP. However, these projects still face certain barriers that need resolution. She further noted that in 2025, the program will continue to review project lists proposed by local and central government agencies to expand the portfolio and enhance financial and investment cooperation for JETP projects.
Following UNDP’s presentation, Ms. Nguyen Thi Lam Giang, Director General of the Department of Energy Efficiency and Sustainable Development (Ministry of Industry and Trade), introduced the Draft 2025 Work Plan of the JETP Secretariat. Ms. Nguyen Thi Lam Giang explained that the draft plan was developed by the Department of Energy Efficiency and Sustainable Development and the Electricity Regulatory Authority to guide the JETP Secretariat’s General and Energy Groups. Other working group activities will be supplemented later as ministries finalize their internal organizational structures.
The General Work Plan includes: Finalizing JETP Secretariat restructuring procedures and issuing operational regulations; Submitting the Evaluation and Monitoring Framework to the Secretariat Chair for approval; Reviewing, assessing, and updating the Resource Mobilization Plan for submission to the Prime Minister; Conducting JETP communication activities, including managing the JETP website, publishing articles, reports, discussions, and distributing brochures.
The Energy Work Plan includes: Developing a Project Screening Criteria Handbook to ensure effective JETP resource mobilization; Holding technical meetings with energy subgroups, including (1) Offshore wind power and renewable energy industrial service hubs; (2) Energy storage and pumped storage hydropower; (3) Renewable energy and new energy; (4) Smart grids; (5) Energy efficiency and conservation; (6) Transitioning coal-fired power plants; (7) Training and capacity building.
The second session included representatives from the EU, UK, and several banks from the Glasgow Financial Alliance for Net Zero (GFANZ), along with international banks such as HSBC, MUFG, Mizuho, Citi, and Standard Chartered. The focus of this session was discussions between banks and IPG partners on the implementation status of JETP.
The Just Energy Transition Partnership (JETP) is a collaboration between developed nations to support Vietnam’s clean energy transition, greenhouse gas reduction, and climate change response, aligning with the net-zero emissions goal by 2050. In December 2022, Vietnam became the third country globally to adopt JETP, partnering with G7, the EU, Denmark, and Norway (IPG).
(Source: Department of Energy Efficiency and Sustainable Development, Ministry of Industry and Trade)
