The U.S. will continue supporting Vietnam in coping with climate change as the latter is moving to cut emissions to zero by 2050, U.S. special presidential envoy for climate John Kerry has stated.
The U.S. will enhance cooperation with Vietnam in the development of clean energy and sustainable infrastructure, and the smart management of water resources and other resources in the ecosystem, Kerry said during a meeting with Vietnam’s Prime Minister Pham Minh Chinh in Hanoi Saturday.
Kerry made the commitment in response to a call from PM Chinh, who asked for U.S. assistance in developing renewable energy, accelerating energy transition, and preventing subsidence in the Mekong Delta, among other issues.
The special envoy, who is joining President Joe Biden in a visit to Hanoi, highly valued Vietnam’s commitment to achieving net zero emissions by 2050 and pledged to help Vietnam fulfill commitments made at the 26th United Nations Climate Change Conference (COP26) in November 2021.
The U.S. and other international partners late last year announced a Just Energy Transition Partnership (JETP) for Vietnam, under which they would arrange $15.5 billion in financing for the Southeast Asian country over the next three to five years in an effort to help it shift from fossil fuels to renewable energy and reduce net emissions to zero by 2050.
Having a long coast and two low delta regions, Vietnam is one of the five countries most vulnerable to climate change. According to a World Bank report, Vietnam lost some $10 billion in 2020, or 3.2% of its GDP, due to its adverse effects. The cost is estimated to rise to 12-14.5% per year by 2050 if the country mishandles the mitigation of this phenomenon.