Vietnam has released a new updated Nationally Determined Contribution (NDC) under the Paris Agreement, in which the country increases its unconditional greenhouse gas (GHG) emissions reduction target to 15.8% by 2030 relative to a business-as-usual scenario from the reference year 2010 and including land use, land-use change and forestry (LULUCF). Conditionally to international support and financing, through bilateral and multilateral cooperation, Vietnam has set an emissions reduction target of 43.5% by 2030. Under its previous NDC, released in 2020, Vietnam set GHG emissions reduction targets of 9% (unconditional) and 27% (conditional).
In its new NDC, Vietnam reiterates its intention to reach carbon neutrality by 2050, which was first enshrined in the country’s National Climate Change Strategy to 2050, unveiled in July 2022. In addition, Vietnam will reduce its methane emissions by 30% in 2030 (compared to 2020 levels), in line with the Global Methane Pledge. The country also announced it will work on identifying measures to enhance carbon sequestration in the LULUCF sector.
Interested in Global Energy Research?
Enerdata's premium online information service provides up-to-date market reports on 110+ countries. The reports include valuable market data and analysis as well as a daily newsfeed, curated by our energy analysts, on the oil, gas, coal and power markets.
This user-friendly tool gives you the essentials about the domestic markets of your concern, including market structure, organisation, actors, projects and business perspectives.