The Vietnam Energy Outlook Report - Road to net zero emissions is the 4th publication in a series of Vietnam Energy Outlook Reports developed within the framework of the Vietnam - Denmark Energy Partnership Program. Circuit. This is a long-term partnership cooperation program between Vietnam and Denmark in the field of green energy conversion.

The report presented development scenarios of Vietnam's energy system to 2050, focusing on analyzing realistic pathways for Vietnam to achieve its net zero emissions commitment by 2050.

One of the report's key findings shows that achieving Vietnam's carbon neutrality target by 2050 is not only technically feasible but also the most cost-effective scenario. However, to achieve this goal, Vietnam's carbon emissions need to peak in 2030 and the green energy transition needs to be implemented urgently and at a faster pace than before.

The report's message points to the best and most cost-effective option to support Vietnam's sustainable growth: scaling up solar and wind power, as well as electrifying the transportation and industry. It is important to accelerate the green energy transition process in Vietnam soon to avoid unnecessary large costs.

The report also provides specific recommendations on how Vietnam can achieve climate neutrality by 2050 and ensure carbon emissions peak by 2030.

Speaking at the announcement ceremony, Mr. Doan Ngoc Duong - Deputy Director of the Department of Electricity and Renewable Energy said: Vietnam is a country with a rapidly growing economy with an annual economic growth rate of 6-7% in recent decades. In the period of 2020-2030, although the world economic and political situation has many complex fluctuations, Vietnam's economy has recovered and developed positively compared to many economies in the world. Vietnam is making strong efforts towards the goal of becoming a high-income country by 2045. In that context, Vietnam's energy and electricity demand in the coming years is forecast to continue to increase quickly to meet the needs of the economy and people's livelihood.