<
https://thediplomat.com/2023/01/vietnams-15-5-billion-just-energy-transition-partnership-explained/>
"In December, Vietnam and a coalition of international partners including the
United Kingdom, the United States, the European Union, and Japan announced a
$15.5 billion Just Energy Transition Partnership designed to accelerate the
reduction of carbon emissions and increase the uptake of renewable energy. The
plan calls for Vietnam to reach peak emissions in 2030 and net zero emissions
by 2050. According to the official policy statement released by the U.K.
government, the transition will be implemented “with the cooperation and
support of the international community, including developed countries, both in
terms of finance and technology transfer.”
This follows closely on the heels of a Just Energy Transition plan announced at
the G-20 between Indonesia and a similar international coalition led by Europe,
the United States and Japan. It’s still early days but the basic structure of
Vietnam’s plan hews closely to the Indonesian version. $7.75 billion, or half
of the total package, will come from public sector finance. The document
specifies that this public sector finance “should be on more attractive terms
than Viet Nam could secure in the capital markets.” I don’t believe similar
language was included in Indonesia’s plan.
As in the Indonesian plan, Vietnam’s Just Energy Transition Partnership
envisions the remaining half of the package coming from a group of commercial
banks which will “work to mobilize and facilitate at least $7.75 billion in
private finance, subject to mobilization of the catalytic public sector
finance.” This means the basic structure between the two plans is largely the
same: public sector finance – such as grants and concessional loans from
governments, state-owned banks and multilateral development banks – will serve
to jump-start investment in green energy projects, and for early retirement of
existing coal-fired plants."
Via
Future Crunch:
<
https://futurecrunch.com/goodnews-global-democracy-cancer-usa-rhinos-india/>
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
