Hanoi (VNA) – The energy transition will play a key role in the implementation of the United Nations Sustainable Development Goals, contributing to net zero emissions target set for 2050, said Tang The Cuong, director general of the Ministry of Natural Resources and Environment’s Climate Change Department.
In his message at a recent webinar themed “Asia: Renewable Energy Continent”, Cuong suggested seven priority points to fully unlock the potential of renewable energy, as well as accelerate the transition from fossil fuels to renewable energy.
First, renewable energy must become a public good benefits everyone, so that everyone has access to renewable energy. In particular, communities and groups that are negatively affected by the energy transition must be supported.
Second, there is a need to promote cooperation between countries to remove barriers, including those related to intellectual property rights, in order to stimulate knowledge sharing and stimulate collaboration in scientific research, development and transfer of knowledge. technology.
Third, policies play a critical role in propelling the energy transition. Therefore, country-specific policies and frameworks are needed to encourage the business community to increase investment in renewable energy, as well as to promote the energy transition, from the planning phase to licensing. , management and operation of renewable energy development projects.
Fourth, the goals related to the development of renewable energy, achieve net zero emissions, and the reduction of air pollution should be established, which will serve as criteria for making investment decisions and developing energy projects. In particular, there is a need to secure the commitment and responsible participation of the financial system, including multilateral development banks, financial and credit institutions, in aligning their lending portfolios with accelerating the transition to renewable energies.
Fifth, there should be increased investment in power transmission systems to maximize the benefits of wind and solar power generation, and more investment in infrastructure projects that accelerate the application of technologies clean, such as electric vehicles.
Sixth, in addition to efforts to strengthen the energy transition and unlocking the potential of renewable energy, there is a need to synchronously implement other solutions, such as the restoration of climate-resilient natural ecosystems to enhance adaptive capacity and carbon sequestration; promote the circular economy to make the best use of resources while preserving resources for future generations, and deploy carbon capture and storage solutions to help achieve net zero.
Finally, in order to promote the development of renewable energy in Asia to the extent of its potential, there should be an active participation of the media and news agencies in the region. Media agencies will help spread the message of the urgency of the energy transition, as well as help businesses and citizens better understand the economic, environmental and social benefits brought by renewable energies./