Stockwell emphasised that Vietnam’s approval of the coal elimination agreement is a development step that deserves to be welcomed.
She said that in order to limit the increase in the Earth’s temperature at 1.5 degrees Celsius under the Paris Agreement on Climate Change, coal must be phased out of the power sector in member countries of the Organisation for Economic Cooperation and Development (OECD) by 2030, and in all nations in the world by 2040.
According to the expert, the statement shows that Vietnam and a number of countries are committed to rapidly scaling up technology and policies in this decade to realise the transition from coal-fuelled power generation by the 2030s or as soon as possible for major economies, and in the 2040s or as soon as possible globally.
Climate Analytics is in the process of assessing Vietnam’s net-zero emission target by 2050, Stockwell said.
COP26 wrapped up on November 13 after adopting the Glasgow Climate Pact, which reaffirms the Paris Agreement temperature goal of holding the increase in the global average temperature to well below 2°C as compared to the pre-industrial level, and calls for the phaseout of unabated coal power and inefficient fossil fuel.
In his speech at the event, Prime Minister Pham Minh Chinh affirmed Vietnam’s strong commitment to achieve net-zero emissions by 2050.
The conference witnessed commitments of global leaders to combat climate change and protect the environment. Up to 105 countries, including Vietnam, joined an event to announce the Global Methane Pledge.