This Policy Brief is prepared by NHQuang&Associates and reviewed by Perspectives Climate Group (PCG) under the finance support of ETP to meet the request of the Department of Climate Change of Vietnam (DCC) to provide for the background in the early stage of preparing the Outline of the Just Energy Transition Partnership Resource Mobilization Plan (JETP RMP). The opinions expressed in this publication are those of the authors solely. They do not purport to reflect the opinions or views of the ETP or DCC.
Number of pages: 37 pages
Authors: Lawyer Nguyen Hung Quang, Lawyer Nguyen Anh Minh – NHQuang&Associates
Year Published: 2023
Under the Just Energy Transition Partnership (V-JETP), Viet Nam will receive financial support of at least USD 15.5 billion over the next 3-5 years. The members of the International Partners Group (IPG) will mobilize USD 7.75 billion in public sector finance on favorable terms, while the Glasgow Financial Alliance for Net Zero (GFANZ) Working Group members will mobilize at least USD 7.75 billion in private finance. The aim is to accelerate the just transition and decarbonization of the electricity system in Viet Nam and create new economic opportunities that will support the shift to a net-zero future.
Viet Nam will continue its efforts to enhance its regulatory frameworks to attract public and private investments forfor renewable energy devlopment and the just transition, including measures to enhance energy efficiency and strengthen the electricity grid in the country. This will contribute to achieving the goals outlined in the National Strategy on Climate Change to 2050 and Viet Nam’s Nationally Determined Contribution (NDC).
The focal authorities for relevant policy and regulations should conduct further study and assessment in compliance with the Law on Promulgation Normative Documents of Viet Nam. These in-depth studies would involve a review and retirement of some existing mechanisms, policies, and laws to create new ones that would facilitate the just energy transition.
Suggested Citation: Nguyen Hung Quang, Nguyen Anh Minh (NHQuang&Associates), Policy Brief for Preparation of Just Energy Transition Partnership Implementation in Viet Nam, 2023, access link: https://www.energytransitionpartnership.org/uploads/2023/05/Policy-brief-on-Review-of-the-background-and-legal-concerns-for-JETP-development-and-implementation-in-Vietnam.pdf
NHQuang Support Team:
Tran Thi Thanh Huyen, Dinh Thi Thu Trang, Nguyen Thi Thanh Mai, Nguyen Thi Kieu Trinh, Khuc Thi Phuong Anh, Tang My Ngan, Tran Phuong Nam