On the afternoon of May 20, within the framework of the expanded G7 Summit, Prime Minister Pham Minh Chinh attended and delivered a speech at the Session “Joint Efforts for a Sustainable Planet”. This session focused on important topics including climate change adaptation, sustainable energy transition and environmental protection.

G7 countries need to increase support for developing countries

As one of the first leaders to speak at the meeting, Prime Minister Pham Minh Chinh emphasized the message that sustainable development, climate change response, emission reduction and energy transition can only be successful through a global, all-people approach, promoting multilateralism, self-reliance and self-reliance of each country and extensive international cooperation.

The Prime Minister expressed his views on ensuring fairness and rationality, taking into account different conditions and levels among countries; ensuring strategic balance between clean energy transition and global energy security; building fair, diverse, highly practical energy transition roadmaps that are consistent with market rules.

In which, human resources, science, technology and innovation are the central driving force for sustainable development of every country, the solution to the problem of both fast and sustainable growth.

The Prime Minister proposed that G7 countries and international organizations increase support for developing countries in technology transfer, improving institutional capacity, infrastructure, human resources, governance methods, and building a clean energy development ecosystem.

The Prime Minister said that the mobilization and effective use of resources is a key factor for sustainable development. G7 countries need to prioritize the timely and effective implementation of financial commitments for development, meeting the urgent need to cancel, extend and restructure debt for poor countries.

The head of the Vietnamese Government proposed the need for a creative approach in mobilizing diverse financial resources, focusing on public-private partnership (PPP), mixed finance associated with the participation of the private sector and foreign investment.

The Prime Minister affirmed that Vietnam is determined to achieve the goal of bringing net emissions to zero by 2050, despite being a developing country, in transition, and a country that has experienced many wars.

This is a huge challenge but it is the path Vietnam has chosen based on the fact that promoting internal strength is decisive, fundamental, and long-term, and external strength is important and breakthrough.

The Prime Minister expressed his support for Japan's "Asian Net Zero Emissions Community" (AZEC) initiative and proposed that G7 countries and partners continue to accompany Vietnam in implementing the Just Energy Transition Partnership (JETP) in a practical and effective manner.

The Prime Minister hopes that this will help Vietnam promote its potential and advantages, become a regional renewable energy center, and deeply participate in supporting industrial production chains for clean energy and circular economy.

Affirming that wind and solar are energy sources that no one can take away, the Prime Minister shared that Vietnam has just announced the National Power Development Plan for the 2021-2030 period, with a vision to 2050, which includes promoting the development of renewable energy.

The Prime Minister hopes to continue receiving effective support and cooperation in managing and sustainably using water resources, improving the capacity to respond to climate change and rising sea levels, especially in the Mekong Delta of Vietnam, as well as supporting the sustainable development of the Mekong Sub-region.

G7 pledges $100 billion for climate finance

At the meeting, many leaders shared the contents of Prime Minister Pham Minh Chinh's speech on the importance of solidarity and international cooperation in responding to global challenges.

Stressing the need to quickly fill the financial gap in climate change adaptation, the leaders supported Vietnam's stance on balancing the implementation of the net zero emissions target with ensuring energy security.

Many countries emphasize that the energy transition can be implemented with many different roadmaps, suitable to the circumstances and conditions of each country.

G7 countries affirmed their determination to implement new initiatives such as JETP, Green Climate Fund, Global Partnership for Infrastructure and Investment (PGII), Asian Net Zero Emission Community (AZEC)...

Developing countries proposed promoting cooperation in technology transfer, providing preferential capital, technical assistance, and implementing the US$100 billion commitment for climate finance from developed countries. Many opinions also proposed promoting diversification of supply chains, ensuring the supply of essential minerals for clean energy development.

Also within the framework of the conference, Prime Minister Pham Minh Chinh attended the event on the PGII Initiative. This is an important initiative of the G7 group in promoting high-quality infrastructure investment in developing countries through public finance mobilization and public-private partnership.

On May 21, the G7 leaders will continue to attend the 3rd Session on the theme "Towards a peaceful, stable and prosperous world".

Thu Hang (from Hiroshima, Japan)