According to the Viet Nam Energy Outlook Report – Road to Net Zero (EOR-NZ), recently released in collaboration with the Ministry of Industry and Trade of Viet Nam, the Danish Embassy in Viet Nam, and the Danish Energy Agency, achieving carbon neutrality by 2050 is technically feasible and the most cost-effective scenario.
The report also highlights that Viet Nam needs to peak its carbon emissions by 2030 to achieve this goal.
The Vietnamese Electricity and Renewable Energy Authority, the Danish Energy Agency (DEA), and the Danish Embassy compiled the report.
The EOR-NZ report provides specific recommendations on how Viet Nam can achieve its climate neutrality goal by 2050, including making significant investments in renewable energy, adopting energy-saving technologies, decoupling economic growth from energy consumption, and building a greener and more sustainable energy system. The report also recommends that Viet Nam immediately start identifying offshore wind power development sites, preparing port infrastructure, and strengthening the power transmission grid. These are necessary steps to ensure the carbon neutrality goal by 2050, contributing to sustainable development and global environmental protection.
Danish Ambassador to Viet Nam Nicolai Prytz hopes this report will serve as a valuable reference for Vietnam in decision-making and shaping its green energy transition.
"Viet Nam has great potential for solar and wind power, both onshore and offshore. This creates favorable conditions to shift from fossil fuels to renewable energy, utilizing national resources. The report emphasizes that delays in the transition will incur unnecessary costs due to the increased impacts of climate change," emphasized the Danish Ambassador.