At the 11th Annual Global Conference on Energy Efficiency of the International Energy Agency (IEA) that concluded in late June in Montreal, Canada, Vietnam was among the participating nations that joined the consensus to endorse the Montreal Declaration on Energy Efficiency.

Under the declaration, Vietnam and the international community reaffirmed the principle of "energy efficiency as the top priority" and expressed support for the goal of doubling the global rate of energy efficiency improvements by 2030.

Vietnam’s participation in the Montreal Declaration establishes a foundation for the country to further monitor and explore deeper involvement in the IEA’s multilateral cooperation mechanisms. This serves as a vital channel for Vietnam to access high-quality data, policy expertise, technical tools, and public-private partnership (PPP) models in the field of energy conservation.

According to experts, Vietnam’s endorsement of the joint declaration is of strategic importance as domestic electricity demand continues to surge driven by industrialization, urbanization, and digital transformation.

This event marked the first time the IEA's annual energy efficiency conference was held in North America. It attracted over 600 delegates, including dozens of ministers and high-ranking officials from more than 40 governments, alongside 70 CEOs from the world’s leading energy, finance, and technology corporations.

The conference took place amidst significant volatility in global energy markets caused by conflicts in the Middle East and shipping disruptions in the Strait of Hormuz—a critical artery for oil, liquefied natural gas (LNG), and other essential energy commodities.

In this challenging context, participating countries reached a consensus that energy efficiency is one of the fastest and most cost-effective solutions available. It not only helps reduce energy bills for households and businesses but also bolsters national energy security.

The core message of “energy efficiency as the top priority” is the centerpiece of the Montreal Declaration on Energy Efficiency—also known as the Montreal Action Plan—which was released at the close of the conference that took place from June 29-30. The declaration reaffirms the target of doubling the average global rate of energy efficiency improvements by 2030, a goal previously agreed upon by nations at the 28th UN Climate Change Conference (COP28) in 2023.