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Vietnam needs to invest in green energy

Released at: 15:43, 11/01/2018

Vietnam needs to invest in green energy

Mr. Nguyen Van Binh was speaking at the forum on Jan. 11 (Photo from enternews.vn)

Former US Secretary of State John Kerry addresses Vietnam Economic Forum in Hanoi on January 11.

by Minh Do

Vietnam needs to use electricity from solar, wind, gas, and thermal power instead of coal power as present, former US Secretary of State John Kerry told the second holding of the Vietnam Economic Forum in Hanoi on January 11.

Held by the Central Economic Commission, participants included Mr. Nguyen Van Binh, Member of the Politburo, Secretary of the Party Central Committee, and Head of the Central Economic Commission, Mr. Kerry, former US Secretary of State and Honorary President of the Carnegie Endowment for International Peace, and leaders from local, national, and international committees, ministries, and businesses.

The forum began with two parallel workshops, “Green Energy and Sustainable Economic Development” and “Improving Productivity in the Context of Industrialization”.

The research and use of alternative energy and renewable sources such as wind, solar, and bio energy is a necessity, according to Mr. Binh. Green energy development is a new trend and rapidly changing the structure of the energy sector. Many countries have urgently developed and implemented green energy development strategies and policies with a long-term vision, focusing on human resources, science and technology, and finance and credit towards the development of a low carbon, sustainable, and environmentally-friendly economy.

Mr. Kerry was speaking at the forum (Photo from cafef.vn)

Mr. Kerry said that using fossil fuels such as coal and oil for the next 20 years is putting people’s lives at risk.

Climate change is taking place all over the world, causing many people to leave their homelands when they do not have enough food and no way of earning a living.

The former Secretary of State has ventured to the Arctic Ocean, where scientists told him that large, 2-3 km deep ice sheets are melting into the ocean.

Major storms and abnormal natural phenomena are occurring once every five years or even more frequently, because people are not using energy smartly or effectively. Coal is the biggest contributor to greenhouse gases and “dirty” energy.

In light of ongoing climate change and growing greenhouse gases, Mr. Kerry said that many financial institutions are ending their investments in the production of electricity from coal.

The solution to climate change is to use smart energy by making the right decisions in investing for the future. The Vietnamese Government is looking to different energy platforms while maintaining economic growth, moving smart grids to provide enough energy for development, and “that is a great place to make choices,” said Mr. Kerry. Vietnam should also have open policies that create a solar route in the overall approach.

Deputy Minister of Industry and Trade Hoang Quoc Vuong acknowledged that Vietnam is building more coal power plants and that this is not in line with Mr. John Kerry’s view.

However, with an open mind, Vietnam can also make necessary adjustments to the development trend of renewable technologies and energy development science in order to jointly protect the environment and combat climate change, as it is particularly sensitive to climate change and has a keen interest in the issue.

However, this must also be linked to annual electricity demand for socioeconomic development (10 per cent growth in electricity demand per year) and gain acceptance from the population.

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