A conference on Vietnam's sustainable energy is held online. (Photo: congthuong.vn)

Dr. Nguyen Duc Hien, Deputy Head of the Party Central Committee's Economic Commission, cited a global climate risk report 2020 which listed Vietnam as one of the six countries hardest hit by climate change. Vietnam has been an active member of the 2030 Agenda for Sustainable Development and the Paris Climate Accord. Developing renewable energy and using energy effectively is Vietnam’s major policy by 2030 with a vision to 2045.

Dr. Hien said, “Saving energy and protecting the environment are Vietnam’s top priority. Every member of the society should bear that responsibility. Vietnam aims to have the energy-saving over the total final energy consumption compared with business-as-usual (BAU) scenario reach 7% by 2030 and up to 20% by 2045.”

According to Dr. Hien, the Government has devised the national energy development strategy and sectoral development strategies, the national energy master plan, and national electricity development master plan. The National Assembly intends to revise the Oil and Gas Law and laws related to energy and electricity saving which serve as the basis for executing the market mechanism, legalizing electricity price management, and calling investment in the energy sector.