Roundtable discusses governance, finance for equitable energy transition in Vietnam. (Photo: vir.com.vn/via VNA)

Hosted by the Vietnam Investment Review (VIR) in collaboration with the United Nations Development Programme (UNDP) in Vietnam, it delved into the broader context of development funding, the role of local and international finance, lessons learned from international experience, and domestic policy ideas that promote a fair energy transition.

VIR Editor-in-Chief Le Trong Minh said he hoped the roundtable will act as an important catalyst for domestic and international delegates to exchange, share, and contribute ideas to promote the search for an optimal resource mobilisation model for Vietnam and developing countries serving just energy transition and the overarching goal of green growth and climate change response.

UNDP Resident Representative in Vietnam Caitlin Wiesen said this is the first event in a series of seminars and roundtables that UNDP is expected to hold in collaboration with the Vietnamese Government, relevant agencies and organisations in a bid to clarify the appropriate policy options that the country needs to implement to attract financial resources for the transition to a net zero emission future.

UN Assistant Secretary-General and UNDP Regional Director for Asia-Pacific Kanni Wignaraja delivered a presentation on financing Vietnam's transition to renewables.

She suggested the Government of Vietnam build the necessary infrastructure, create a favourable legal environment, and fund the building of smart electricity grids.

Vietnam needs to build a carbon tax system, and issue investment bonds for renewable energy and a carbon emissions credit trading mechanism, the official noted.