Viet Nam to announce new initiatives, commitments at COP28

The conference is of significant importance as climate change remains the biggest global challenge, the Deputy Foreign Minister told reporters ahead of Prime Minister Pham Minh Chinh's tour to the United Arab Emirates (UAE) to attend the event.

The conference brings together 130 leaders from States and Governments, providing a pivotal opportunity to correct course and accelerate action to tackle the climate crisis.

It is where the world will take stock of progress on the Paris Agreement – the landmark climate treaty concluded in 2015 – and chart a course of action to dramatically reduce emissions and protect lives and livelihoods.

The science is clear: to preserve a livable climate, the production of coal, oil, and gas must rapidly decline, and global renewable power capacity – including wind, solar, hydro and geothermal energy – needs to triple by 2030.

At the same time, financing adaptation and investments in climate resilience need a quantum leap.

Viet Nam accounts for 69 percent of Southeast Asia's solar and wind generation in 2022, according to Ember – an independent energy think tank that aims to accelerate the clean energy transition with data and policy.

ASEAN, a group of 10 Southeast Asian nations, has boosted its solar and wind generation with an average annual growth rate of 43 percent since 2015, but slowed to just 15 percent in 2022.

From 2015 to 2022, solar and wind power generation in ASEAN rose from 4.19 TWh to 50.19 TWh, driven by policies implemented by the member States to promote renewables deployment.

At this year's conference, Viet Nam expects countries to take bolder actions to significantly reduce greenhouse gas emissions and accelerate sustainable and just energy transition.

Viet Nam also expects developed countries to realize their commitments, especially those related to financial assistance and technological transfer./.