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Australia-Vietnam Green Economy Summit boosts cooperation on decarbonisation

The Australia-Vietnam Green Economy Summit commenced in Ho Chi Minh City, with esteemed delegates gathered to discuss the pivotal role of collaboration in advancing sustainable development. Vice Chairman Hoan extended a warm welcome to attendees, emphasizing the significance of collective action in addressing pressing environmental challenges.

The summit, organized by Asialink and the Climateworks Centre, serves as a platform for government officials, industry leaders, financiers, and researchers to explore opportunities for cooperation between Australia and Vietnam on the path to net zero emissions. Notably, Ambassador for Climate Change Kristin Tilley and Charge d’Affaires and Ho Chi Minh City Consul General Sarah Hooper were acknowledged for their instrumental roles in fostering bilateral relations.

Addressing the audience, keynote speaker Amit Gupta, Co-founder & CEO of Yulu, underscored the urgency of combatting climate change and underscored the imperative for joint efforts in achieving ambitious emission reduction targets. Gupta highlighted the lived experiences of climate change impacts, citing recent extreme weather events in both Australia and Vietnam as compelling evidence of the urgent need for action.

Acknowledging the shared commitment to decarbonisation, Gupta outlined Australia’s and Vietnam’s respective pledges towards achieving net zero emissions by 2050.

Australia’s commitment includes reducing emissions by 43% below 2005 levels by 2030 and significantly increasing the share of renewable energy in its electricity grid. Similarly, Vietnam aims to enhance its renewable energy capacity to 47% by 2030, with support from international partners.

Reflecting on Vietnam’s promising trajectory in renewable energy adoption, Gupta commended the nation’s strides in solar and wind energy generation, positioning it as a key player in the global clean energy transition. He emphasized the importance of leveraging technological advancements and fostering innovation to accelerate the shift towards sustainable energy systems.

Furthermore, Gupta highlighted Australia’s domestic initiatives aimed at decarbonising its economy, including investments in grid modernization, hydrogen production, and solar PV manufacturing. These efforts align with Australia’s vision of becoming a renewable energy superpower, driving economic growth while mitigating climate risks.

The summit also marked a significant milestone in bilateral relations, with the announcement of the Comprehensive Strategic Partnership (CSP) between Australia and Vietnam. The CSP includes a dedicated pillar on Strengthening Climate, Environment, and Energy Cooperation, underscoring the commitment to collaborative action on climate change.

As the summit concluded, delegates expressed optimism about the prospects of deepening cooperation between Australia and Vietnam in advancing the green economy agenda. With shared aspirations for a sustainable future, the two nations reaffirmed their commitment to working together towards a net zero emissions future.

The Australia-Vietnam Green Economy Summit serves as a testament to the power of partnership in driving meaningful progress towards a greener, more resilient future for generations to come.


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