At the High-level Segment of the 30th United Nations Climate Change Conference (COP30) hosted by Brazil, Vietnamese Deputy Minister of Agriculture and Environment Le Cong Thanh on November 18 proposed that developed countries, with their financial, scientific, and technological capabilities, make stronger commitments to reducing greenhouse gas emissions.
Mr. Thanh, who is head of the Vietnamese delegation at the COP30, also proposed that developed countries need to fully implement financial commitments to lead in mobilizing at least $300 billion annually and aim for a roadmap of $1.3 trillion per year to support developing countries in a common efforts for net zero emissions by 2050.
Additionaly, it is urgent to expand and improve the implementation of the "Early Warning for All" initiative to protect the lives and property of people from increasingly severe climate disasters, he said.
He noted that Vietnam consistently pursues sustainable development, harmoniously balancing economic growth, environmental protection, and climate change response. It has continuously improved its institutions and policies, gradually creating a consistent and synchronized legal framework for adaptation and greenhouse gas emission reduction, fair energy transition with new, breakthrough mechanisms to promote green transition and carbon-neutral development.
Currently, Vietnam is developing and piloting a domestic carbon market along with allocating greenhouse gas emission quotas for major emitting facilities in the thermal power, cement, and steel sectors, according to the Deputy Minister.
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