Just energy transition inevitable for sustainable development: diplomat

NEW YORK — Energy transition, environmental protection and climate change response are the inevitable paths to achieving sustainable development, affirmed Ambassador Đặng Hoàng Giang, Việt Nam's Permanent Representative to the United Nations (UN). Giang made the statement at an April 19 conference titled ‘Architecting Financing for the Energy Transition in Asia and the Pacific – Lessons from Indonesia’s and Việt Nam's Just Energy Transition Partnerships (JETPs)’ – a side event of the 2023 UN Economic and Social Council (ECOSOC) Forum on Financing for Development. In his remarks, the Vietnamese diplomat said Việt Nam has joined international partners to set up JETP, initially mobilising US$15.5 billion within the next three to five years to serve Việt Nam's energy transition efforts. Việt Nam's JETP implementation process, which faces myriad challenges in terms of ensuring energy security and fairness, has prompted the Southeast Asian nation to amend its laws and policies on socio-economic and technology to meet associated requirements, Giang noted. At the conference, participants said the implementation of the JETPs will create a basis to launch similar supportive relationships helping developing nations mobilise resources for the transition.