Green recovery trend and attracting resources to develop clean energy

Green recovery trend and attracting resources to develop clean energy

In 2020, due to the impact of the Covid-19 pandemic, the 26th Summit of the United Nations Framework Convention on Climate Change (COP 26) had to be moved to 2021. Mission Statement COP 26 affirmed, this further pushes the Conference to unite the world on the road to a carbon-free economy in parallel with a green recovery after the pandemic.

Green recovery opportunity

Seen from the reality in the world, the difficult Covid-19 crisis has “washed away” faster than ever the old and inappropriate models and this is the time when national governments need to accelerate restructuring economy, promoting fundamental reforms of the economy.

Many countries follow a “traditional” route of adjusting fiscal and monetary policies by pumping money into the economy. Others promote economic stimulus in the direction of green recovery, mobilizing budgets for greenhouse, gas emission reduction and environmental protection – which in the absence of the epidemic, it is difficult to meet. Okay. For example, the German government has announced a huge stimulus package, with 40 billion euros for climate change. Meanwhile, the Spanish Government has included the goal of completely decarbonizing the economy by 2050 in the Draft Law on Climate Change and Energy Transition.

The Vietnam Law on Environmental Protection (amended) has just been passed, with the policy of not sacrificing the environment in exchange for economic growth. Environmental protection, response to climate change must be in harmony with economic development and be placed at the center of development decisions;

Vietnam is one of the few countries that still has positive growth during the Covid-19 pandemic, although modest, however, production and business are still facing many difficulties. This is the foundation to seize the opportunity to strengthen the self-recovery of the economy through more investment in green recovery, especially in the context that Vietnam is increasingly affected by climate change.

In particular, from 2021 onwards, Vietnam is responsible to implementing the international commitments.