Vietnam to receive loans from Norway and G7 for net-zero carbon emission goal

Photo by the U.K. Embassy in Hanoi.

Norway and G7 nations include Canada, France, Germany, Italy, Japan, the U.K., as well as the European Union signed the “Just Energy Transition Partnership” to provide Vietnam with $15.5 billion loans in the next three to five years for its net- zero carbon emission goal.

The signatory was made during the recent 45th ASEAN – EU Summit in Brussels, Belgium from 12-15 December 2022.

As Vietnam aimed to accomplish the net-zero emission target in 2050, the partnership will bring forward Vietnam’s peak greenhouse gas emissions by five years to 2030, cut emission in its power industry by 30%, or from 240 million tons of CO2 to 170 million tons, by 2030, reported VN Express. Net.

The financial resource plan will soon be discussed between Vietnam and the partners in 2023.


About Kanlayakorn Pengrattana

Kanlayakorn 'Princess' Pengrattana is a freelance writer at ScandAsia.

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