A ceremony is held to launch the Vietnam Energy Outlook Report – Pathways to Net-Zero in Hanoi on June 19th, 2024. (Photo: Danish Embassy in Vietnam)

But the report, launched on Wednesday, also pointed out that to achieve its net-zero commitments, Vietnam’s CO2 emissions need to peak in 2030. The country’s transition to green energy also needs to be carried out at a faster pace than before.

Danish Ambassador to Vietnam Nikolai Prytz speaks at the launch ceremony. (Photo: Danish Embassy in Vietnam)
Danish Ambassador to Vietnam Nikolai Prytz, told the report’s launch ceremony in Hanoi: "The release of the Vietnam Outlook Report marks a pivotal moment in our energy partnership, a crucial part of the Vietnam-Denmark green strategic partnership. It provides us with a realistic pathway to achieve the net-zero target. First and foremost, the green transition is the best investment for Vietnam. Even without carbon targets, the cheapest way to supply electricity to Vietnam’s continuous growth is through green energy."

The report, a joint product of the Electricity and Renewable Energy Authority, the Danish Energy Agency (DEA), and the Danish Embassy in Vietnam, is the fourth edition of the Vietnam Energy Outlook Reports series, developed under the Danish-Vietnamese Energy Partnership Program.