Today, the International Partners Group, comprised of the United Kingdom (UK), the European Union (EU), Canada, Denmark, France, Germany, Italy, Japan, Norway and the United States of America, and co-led by the EU and the UK, welcomes and endorses Viet Nam's Just Energy Transition Partnership Resource Mobilisation Plan (RMP). The RMP is part of the Just Energy Transition Partnership, which was agreed between Viet Nam and the International Partners Group in December 2022 and will help the country deliver on its climate targets.
During the World Leaders Summit at COP28 on 1st December 2023, Vietnamese Prime Minister Phạm Minh Chính launched the Resource Mobilisation Plan (RMP). The launch of the RMP represents a key milestone towards the implementation of the Just Energy Transition Partnership (JETP), which was agreed between Viet Nam and the International Partners Group (IPG) in December 2022 at the EU-ASEAN summit in Brussels and outlined in the JETP Political Declaration.
The Partnership supports Viet Nam to deliver on its net zero 2050 goal and 2030 targets to accelerate and reduce the peaking of its greenhouse gas emissions and transition away from fossil fuels to clean energy.
The RMP is an important first step towards the implementation of the JETP and will by nature be a living document, updated regularly as implementation progresses. It includes an assessment of priority investments, which will help Viet Nam deliver on its pathway to net-zero emissions and identify a set of priority policy actions and regulatory reforms to develop an enabling environment for investment, to boost renewables and reduce reliance on fossil fuels. The plan also identifies priority investment projects in JETP-related areas, and includes building blocks for a framework to analyse and monitor the just aspect of the energy transition with the ultimate objective to leave no one behind in the green transition.
Moving forwards, strong partnership will be required to implement the policy actions outlined in the RMP, particularly on improving the regulatory framework in order to facilitate the flows of necessary public and private investments.
The RMP provides
