Vietnam puts forth initiatives for sustainable and people-centered green transition

Chairing a high-level Plenary Discussion on "Sustainable and people-centered green transition” within the framework of the 4th Partnership for Green Growth and the Global Goals 2030 (P4G) Summit in Hanoi on April 16, Prime Minister Pham Minh Chinh said that the plenary discussion would be an opportunity for countries to exchange and build an action program based on three aspects: (i)building inclusive, fair green institutions, taking the market as the center to regulate and allocate resources as the foundation; (ii) building green economic capacity; and (iii) building a green international cooperation framework and multi-sectoral, multi-subject linkages, according to the Vietnam News Agency.

To this end, P4G cooperation would play a pioneering and leading role, paving the way for the process of testing new policies and methods of connecting resources, especially public-private partnership and support from developed countries to developing countries in the green transition process, the PM said.

He made a number of specific proposals to promote the sustainable and inclusive green transition process. As a platform to promote public-private partnership, connecting governments, businesses and socio-political organizations, P4G needs to continue to provide financial and technical support in the field of climate change prevention, developing solutions to minimize impacts and respond to climate change.

The international community needs to join hands and make stronger efforts to realize the goals and commitments of sustainable and people-centered green transition in the spirit of "what is said is done, what is committed is implemented, what is implemented is achieved with real and concrete results," the PM recommended.

The Vietnamese leader suggested developed countries promote their pioneering role in providing financial support, technology, and management experience to help developing and least developed countries make green transition, realize the Sustainable Development Goals, and ensure livelihoods for people.

Cooperation models and public-private partnerships (PPPs), as well as tripartite, South-South and North-South cooperation need to be promoted to create mechanisms and favorable conditions for people and businesses to invest in green transition and sustainable development projects, he added.

Speaking in a pre-recorded video sent to the discussion, French President Emmanuel Macron highly appreciated the activities of P4G as well as Vietnam's proactive engagement in sustainable development issues. He thanked Vietnam for its close coordination in implementing the Just Energy Transition Partnership (JETP) and the Paris Pact for People and the Planet.

The French President reaffirmed the message that "no country should have to choose between fighting poverty and saving the planet", with the goal of mobilizing necessary financial resources through reforming multilateral mechanisms and mobilizing private finance.

He called on countries to support the 1982 United Nations Convention on the Law of the Sea (UNCLOS) and the Agreement on the Conservation and Sustainable Use of Marine Biodiversity in Areas Beyond National Jurisdiction (BBNJ).

Meanwhile, Dutch Prime Minister Dick Schoof shared the similarities in geographical characteristics and appreciated the long-standing cooperative relationship between Vietnam and the Netherlands, including in the green sector. He affirmed that determination, long-term vision, and public-private partnership are the keys to promoting both economic growth and sustainable development.

At the discussion, delegates discussed the advantages and challenges to promote green transition; and shared development experiences, policy priorities and solutions to promote green growth and sustainable development. Delegates emphasized that there are only five years left to implement the Sustainable Development Goals, but many goals are behind schedule, even reversed. In the context of increasingly serious climate change and complex natural disasters, people-centered green transition has become an essential path.

However, uncertainties in the world situation can create many great challenges, especially for developing countries and vulnerable groups in society. In that context, delegates all affirmed the importance of international cooperation; acknowledged the contribution of P4G in strengthening cooperation and mobilizing resources for green growth and sustainable development. They highly appreciated Vietnam's hosting of the P4G Summit at the present time.

Many delegates shared development experiences and efforts to implement commitments on reducing greenhouse gas emissions, and carbon neutrality; and proposed solutions to mobilize resources for green transition and reduce emissions such as credit guarantee mechanisms, green finance, public-private partnership, support for small and medium enterprises, and diversifying the power grid. At the discussion, a number of partners also announced support for green transition, in which the South Korea committed to continue providing financial support in 2025 for P4G projects.

Concluding the discussion, Prime Minister Pham Minh Chinh highly appreciated the delegates' thoughtful and profound sharing, ideas and proposals.

According to the Prime Minister, green transition and green growth are inevitable trends that cannot be reversed or delayed. The current context requires a "global, all-people, comprehensive" approach and the role of international solidarity and multilateralism. All efforts for green transition and sustainable development need to be associated with people, for people and putting people at the center, and not sacrifice social and environmental progress in exchange for mere economic growth, the PM said.

Believing that science and technology development and innovation must truly be the key to green transition and digital transformation, he thanked and highly appreciated the contributions of countries and partners to the discussion, thereby promoting partnerships and cooperation in exploiting resources to open up a green and sustainable future for all people.

On this occasion, Prime Minister Pham thanked leaders of countries for sending high-level delegations to attend the summit, showing their support and contribution to the common development of the Earth and demonstrating their affection for Vietnam and for the green transition process of a country emerging from war.