The high-level event seeks to strengthen international coordination, particularly emphasising South-South collaboration in the just energy transition. (Photo: VNA)

Hanoi (VNA) – The Ministry ofForeign Affairs and the United Nations DevelopmentProgramme (UNDP) on May 26hosted an internationalworkshop to enhance cooperation, encourage knowledge transfer, and promoteexperience sharing in the just energy transition.

Theworkshop convened senior government representativesfrom the three countries with Just Energy Transition Partnerships (JETPs) –South Africa, Indonesia, and Vietnam – as well as representatives from otherseven developing countries with a strong interest in the energy transition, tocreate a forum for them to learn from one another.

Theworkshop also brought together representatives from the International PartnersGroup (IPG), the Glasgow Financial Alliance for Net Zero (GFANZ), developmentpartners, key Vietnamese ministries and representatives from 63 provinces, and otherstakeholders.

Thishigh-level event seeks to strengthen international coordination, particularlyemphasising South-South collaboration in the just energy transition.Furthermore, it aims to promote mutual understanding on finance among diversestakeholders.

Addressingthe imperative of limiting the global average temperature increase to 1.5 degrees Celsius above pre-industrial levels as the Paris Agreement mandates, the workshopemphasises the need for innovative, equitable, and sustainable approaches todecarbonise economies and achieve climate and development objectives. Theconcept of a just energy transition is recognised as a catalyst for achieving the Sustainable Development Goals (SDGs),fostering job creation, enhancing access to clean energy, and buildingresilience.

To realise thejust energy transition, developing countries require multi-facetedinternational support in the form of finance, technology, knowledge, andcapacity building to effectively decarbonise their economies and establish low-carbondevelopment pathways.

Speaking at theevent,  Do Hung Viet, Deputy Minister of Foreign Affairs, said that Vietnam is one of the countries most affected byclimate change, often hit by floods, droughts, sea level rise, and extreme weather events.

The country’s central development policy hasalways been to consistently build a green, circular, and eco-friendly economy. Althoughjust energy transition will bring many benefits, it will also pose manydifficulties and challenges for developing countries, including Vietnam in ensuringsocioeconomic development and ensuring the interests of the state, people, and businesses.

He emphasised the need for a just energy transition. Accordingly, each country needs togive full attention to the rights of all people and leave no one behind. Countries that have emitted a lot of greenhouse gases in the past need tofulfil their historical responsibility, supporting developing countries infinance, technology, and capacity building.

Energy transformation in developingcountries should have an appropriate roadmap, taking into account theconditions and circumstances of each country.

RamlaKhalidi, UNDP Resident Representative in Vietnam said that climate and innovative finance – both domestic and foreign, and bothprivate and public - is of paramount importance in the energy transition.

Governmentscan create favourable conditions for private investment by putting in placeforward-looking and transparent regulatory and pricing regimes, and throughstrategic public investments in essential infrastructure, she said.

ܫ The energytransition needs to be fair and equity-driven for developing countries totransition sustainably to low-carbon economies and establish climate-resilienttrajectories while realising their sustainable development objectives. Theenergy transition must be just and inclusive for workers, local communities,and affected people through the creation of new economic opportunities, jobcreation, reskilling, capacity-building, and enhancing social safetynets, she said./.