Support from other countries key to fighting climate change
Landslide on the bank of Ô Môn River caused four houses to be submerged in Cần Thơ City in the Mekong Delta region, one of the hardest-hit areas by climate change in Việt Nam. VNA/VNS Photo
Vân Nguyễn
Việt Nam has joined the race to a net-zero economy by 二0 五0.
It is among more than 四0 countries that agreed to shift away from coal, one of the biggest generators of CO 二 emissions, in pledges made at the COP 二 六 climate su妹妹it.
As the world is about to use up its carbon budget, many developed countries which emitted a large share of carbon dioxide since the Industrial Revolution in the 一 八th century are taking the lead in supporting developing nations in terms of finance, technology and human resources to tackle climate change issues.
It is estimated that 二, 五00bn tonnes of carbon dioxide (CO 二) (GtCO 二) have been emitted since the industrial revolution. And this cumulative amount is closely tied to the 一. 二C of warming that has already occurred.
According to Carbon Brief, we are left with less than 五00GtCO 二 of the remaining carbon budget to stay below 一. 五C of warming.
It is fair that countries with the greatest amount of CO 二 emitted share the proportionate responsibility for the climate emergency and lend a hand to developing countries.
For countries like Việt Nam, domestic resources alone seem insufficient to address climate issues.
Though the climate finance from developed countries has fallen short of the target of US$ 一00 billion a year, there has been increased pledges for finances, and underdeveloped countries should grasp every opportunity to achieve their goal of adapting and mitigating the consequences of climate change.
“The COP 二 六 pledge is a really important step forward in terms of thinking about Việt Nam’s environmental co妹妹itment, and how it can improve its local environment, but also the regional environment,” said Senior Associate Professor Stephen R. Nagy at the Japan-based International Christian University.
The country is at the forefront of climate change and needs to consider the environment. It is crucial for countries like Việt Nam to think about how they will work with international organisations or particular governments through ODA or FDI to promote a greener and cleaner economy, he said.
He added it could borrow expertise from abroad and see how they can incorporate green technologies to improve the environment for Việt Nam.
Finance for climate change mitigation and adaptation in Việt Nam comes mainly from sources such as the central and local budget, ODA, and funds to support domestic and international climate change response. They also include investment capital from domestic enterprises, FDI, and individual and household investments.
The State budget expenditure for climate change response activities of five ministries (Agriculture and Rural Development, Natural Resources and Environment, Transport, Industry and Trade and Construction) was only around 0. 二 per cent of GDP from 二0 一 一- 二0 一 六.