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Vietnam lays out USD15.5B energy transition plan

AFP – Vietnam has laid out a USD15.5- billion blueprint to transition away from coal power, but environmentalists warned the plan fell far short of what was needed.

The nation has committed to reaching net-zero carbon emissions by 2050, supported by the Just Energy Transition Partnership programme, under which wealthier nations would help developing countries switch to clean energy faster.

Vietnamese Prime Minister Pham Minh Chinh announced the multi-billion dollar Resource Mobilisation Plan (RMP) on the sidelines of the 2023 United Nations Climate Change Conference (COP28) climate talks in Dubai.

“We commit to an open mechanism, good infrastructure, and smart management,” he told delegates.

However, environmentalists told AFP that Vietnam’s intention to use coal-fired plants until the end of their life operations, as well as shrinking civil society space, prompted concerns.

Vietnam’s plan contained some worrying elements, chiefly the intention to use coal-fired plants flexibly rather than closing them early, said Leo Roberts of environmental strategists E3G.

Vietnam’s Prime Minister Pham Minh Chinh speaks during the high-level segment for heads of state and government session at the United Nations climate summit in Dubai, United Arabic Emirates. PHOTO: AFP

“What that means in practice is unclear, and is a slippery slope to using them extensively.”

He added it sent a clear message the country was not transitioning as fast or at the scale it should, “and that discourages investment in renewables”.

Speaking on the phone from the sidelines of COP28, Roberts told AFP that successful energy transitions required input from all sections of society. “The lack of a clear, inclusive consultation process has limited the scale of ambition of the RMP,” said Roberts. Five environmentalists have been jailed for tax evasion in Vietnam since last year, with an independent United Nations expert accusing Hanoi last month of targeting rights defenders.

“The crackdown on civil society doesn’t just undermine the content of the RMP, but also how easy it will be to actually deliver it,” said Roberts.

Researcher Andri Prasetiyo at the Senik Centre Asia in Indonesia, agreed with Roberts’ concerns.

“The resource mobilisation plan is not realistic, it’s not really progressive enough,” he told AFP.

“The country is going to be giving a mixed signal towards renewable energy, which is definitely going to be dangerous.”

After China and India, Vietnam has the world’s third-largest pipeline of new coal power projects, remaining reliant on fossil fuel to power its fast-growing economy.

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