A review of AZEC and JETP in Vietnam towards net zero emission goal by 2050

Abstract

Vietnam has committed to reach the target of net zero emission by 2050 by applying both Just Energy Transition Partnership (JETP) and Asia Zero Emission Community (AZEC).  JETP has aimed at calling on international partners to cooperate with and help the country realize climate change response commitments and invest in energy transition projects to secure green transition and a circular and low-carbon economy. AZEC pursues energy transitions tailored to each country’s circumstances, together with Asian countries that are actively endeavoring toward carbon neutrality.  

In the Worlds, only Vietnam and Indonesia have implemented both AZEC and JETP, though with different approaches. The research will analyze the implementing AZEC and JETP in Vietnam, identify challenges and opportunities by reviewing lessons from countries around the world, collectable statistics and survey results through the combined use of research methods such as interpretative method, meta-analytical method, comparative analysis method, etc. From there, the research wants to answer these following questions of:

1. The differences between AZEAC and JETP mechanisms and what are the lessons from implementing them in Vietnam and other countries;

2, How to implement the AZEC and JETP in Vietnam? How Vietnam Government can support the implementation of these two incentives?