At the Franconomics 2024 Forum, Mr. Arnaud Dubrac, a renewable energy expert from Expertise France, delivered a keynote speech titled “Global Development of Renewable Energy and Promoting International Cooperation in Sustainable Development.” He emphasized the critical importance of energy transition and the role of international collaboration in achieving sustainable development goals.

Mr. Dubrac noted that energy production accounts for around 60% of global greenhouse gas emissions, making the reduction of emissions from electricity and heating sectors essential in combating climate change. He highlighted the strong commitments made at COP21 (2015) and COP26 to achieve net-zero emissions by 2050, with Vietnam committed to significantly reducing its reliance on coal and increasing the use of renewable energy. 

He also discussed the massive financial resources required for this transition. According to the International Energy Agency (IEA), trillions of dollars in investment are needed annually to reach the net-zero target. For Vietnam, it is estimated that $12 to $24.2 billion per year will be required from 2021 to 2030 for clean energy production, along with additional investments in grid infrastructure. The Just Energy Transition Partnership (JETP) is a key initiative aimed at accelerating carbon emission reductions in the electricity sector, with Vietnam committed to limiting coal power capacity to 30.2 GW and achieving 47% renewable electricity production by 2030. JETP could provide Vietnam with $15.5 billion in financial support, with half from public and half from private sources. 

France plays a significant role as a bilateral partner in Vietnam’s energy transition. Through the French Development Agency (AFD), France has committed €500 million over the next five years to support Vietnam’s electricity infrastructure and renewable energy development. AFD’s technical assistance, combined with Expertise France’s expertise, is helping Vietnam implement sustainable projects and build capacity in the energy sector. 

Mr. Dubrac concluded by emphasizing that while energy transition is a challenging task, it presents a unique opportunity for Vietnam to meet its sustainable development goals, mitigate climate change, and promote sustainable economic growth through international cooperation and substantial investment.