Fourth P4G Summit warps up successfully

The closing ceremony was attended by Prime Minister Pham Minh Chinh, Prime Minister of Ethiopia Abiy Ahmed Ali, Deputy Prime Minister and Foreign Minister Bui Thanh Son, along with domestic and international delegates.

Ha Noi Declaration on Sustainable and People-centered Green Transition, and the Declaration on Strengthening Multilateral and Institutional Partnerships to Promote Green Transition and Sustainable Development was adopted at the summit.

As part of the summit, a signing ceremony took place for three loan agreements between Viet Nam and the Asian Development Bank (ADB) as well as the International Bank for Reconstruction and Development (IBRD) to provide financing for projects on climate change-adaptive infrastructure, serving for sustainable development, with a total value of nearly US$400 million.

Robyn McGuckin, Executive Director for P4G, expressed her gratitude to the Vietnamese Government for successfully organizing the P4G and for inspiring the leaders to take action against climate change, promoting multilateral cooperation, and coordinating policies towards sustainable and inclusive development.

She announced an additional US$4.7 million in support for 17 startups and reaffirmed the commitment of the Government of South Korea to contribute US$1.8 million to P4G.

The Vietnamese and Ethiopian Prime Ministers jointly conducted the handover ceremony for the role of host for the fifth P4G Global Summit by 2027.

Addressing the event, the Vietnamese Prime Minister affirmed the five key agreements reached by the conference, including:

(1) agreement on mobilizing finance to promote green transition and sustainable development, public-private partnership models, and innovative financial policies;

(2) agreement on encouraging research and development of green technology solutions;

(3) agreement on transformation of sustainable agriculture and food systems;

(4) agreement on the development and training of a high-quality workforce, especially in the fields of science, technology, and innovation;

(5) agreement on effective and sustainable energy transition that is environmentally friendly.

He called on countries, organizations, and businesses to strengthen cooperation with P4G members, contribute responsibly to green future of the world, turn commitments into actions, ideas into concrete projects, and consensus into strong determination for implementation, towards a sustainable and prosperous future for all nations, and peoples.

Viet Nam vows to continuing to work with member countries and international partners in realizing the commitments and initiatives put forth at the conference, contributing to promoting a greener and more sustainable future, emphasized the Vietnamese leader.

The success of the conference reaffirmed Viet Nam's pioneering role in addressing global challenges, making contribution to the collective efforts of the international community and leveraging valuable international resources for the country's socioeconomic development.

At the summit, countries and international organizations made numerous commitments to supporting and contributing to the goals of green transition and sustainable development.

Specifically, South Korea is committed to providing financial support for P4G in the upcoming period while the UAE will provide US$50 billion for renewable energy projects in 70 countries.

Besides, Japan will support multiple projects in 25 countries through a credit-sharing mechanism, contributing to the global carbon reduction target.

Countries also set targets for reducing greenhouse gas emissions and achieving carbon neutrality through their nationally determined contributions (NDCs)./.