Climate change brings about damage worth 2-6 percent of Vietnam’s GDP per year and the country needs roughly US$30 billion to cope with it in the next five years, a Vietnamese official has said. Dr. Pham Hoang Mai, head of the Department of Science, Education, Natural Resources, and Environment under the Ministry of Planning and Investment, released the figures at a ceremony in Hanoi on Thursday. The event was jointly held by the ministry, the World Bank, and the United Nations Development Program to announce the Climate Public Expenditure and Investment Review (CPEIR) for Vietnam. Over the past decade, climate-related disasters, particularly storms and floods, have cost Vietnam an annual average of $3-9 billion, or 2-6 percent of the country’s GDP, Dr. Mai told the ceremony, citing the figures of the Asian Development Bank. Dr. Mai also said official development assistance given by the international community to projects in Vietnam to deal with climate change and promote green development has increased in recent years, reflecting the importance of the world’s efforts to adapt to climatic changes. About 88 percent of the total budget of VND14.9 trillion ($683.3 million) spent by Vietnam on climate-change response during 2010-13 was intended for direct activities, such as building infrastructure, building dykes to protect coasts, and afforestation, the Vietnam News Agency cited the CPEIR as saying. Nine percent was directed toward science and technology development and three percent toward making policies and management activities related to climate-change response, the report said. The report proposes adding short- and long-term initiatives to further mainstream climate change into Vietnam’s policy, planning and budget cycle, and better identifying priority investments and activities to strengthen the country’s climate change response, according to the World Bank. In particular, the report said immediate actions to boost Vietnam’s climate change response should be part of the next 5-year socio-economic development plan and beyond, the World Bank said. “Mainstreaming climate change into the budget will strengthen Vietnam’s resilience against the impacts of a warming world, make communities less vulnerable, and tackle the emissions challenge as Vietnam continues its journey toward a greener, resilient and prosperous future,” said Victoria Kwakwa, the World Bank country director for Vietnam. “The options proposed by the report, if implemented, will help Vietnam achieve this goal by further embedding the climate change agenda into the government’s planning and budgeting systems,” she said. As a result of the economic expansion, Vietnam's greenhouse gas emissions and overall carbon intensity have significantly increased recently, according to experts. Between 1994 and 2010, greenhouse gas emissions in Vietnam rose from 103.8 million tons of carbon dioxide to 246.8 million tons, the Ministry of Natural Resources and Environment reported. Therefore, the CPEIR helped accelerate the country's transition to a low-carbon economy, Louise Chamberlain, country director for the United Nations Development Program, said. Dr. Mai suggested many solutions for enhancing the efficiency of climate change response, including formulating action plans and priority projects for climate change and green growth strategies; developing market-based mechanisms to generate financing for green growth; improving existing capacity; and consolidating the set-up and strengthening of fiduciary procedures for resource mobilization. He also suggested putting together climate finance task forces and options, and formulating adaptation prioritization frameworks and green investment guidelines for public investment.
The ministry still needs to resolve several issues before submitting a complete plan to the government for a final decision
She introduced herself as a wealthy Viet Kieu to earn trust from her victims1 day ago
Individuals and organizations are asked to have appropriate dressing and behaviors at the Hoan Kiem promenade1 day ago
The Southeast Asian nation has gone 25 days without any community transmission22 hours ago
Upon their swoop on the illegal production base, all the used condoms were found unpackaged and unlabeled6 days ago
Good morning from Vietnam!13 hours ago
The plant is expected to be put into operation by late 2021
Residents in the northern Vietnamese provinces of Lai Chau and Ha Giang are trying their best to help one another rebuild their lives after floods took a heavy toll on the two localities last month.
Many sewers along the streets in Ho Chi Minh City have their entrances blocked by garbage on a regular basis, negatively impacting urban esthetics and the environment while helping cause serious flooding.
A young Vietnamese has constantly kept his pencil busy during the ongoing 2018 FIFA World Cup, drawing more than a dozen charismatic portraits of his favorite stars at football’s biggest competition.
Locals who pick up sau, a typical fruit of Hanoi, for sale to earn a living will not start their daily ‘harvest’ until the sun goes down.
Despite the sweltering weather in Hanoi these days, many young people still flock to lotus ponds surrounding the capital city’s iconic Ho Tay (West Lake) to pose for Instgram-ready photos with a sea of blooming flowers.
Sand-boarding, a popular activity amongst local children in the coastal tourism town of Mui Ne in south-central Vietnam, is attracting hundreds of tourists to the Red Sand Dunes
The trees are currently growing well, with green leaves and healthy branches.
Skink meat is known to be soft, tasty, and highly nutritious.
Nguyen Thi Duyen, a young engineer in Hanoi, developed the app and its related services to help busy people create their own veggie gardens.
Four Chinese were reportedly injured, with one having a broken arm.
The plant is expected to be put into operation by late 2021
Rainfall in southern Vietnam during the coming months is expected to be higher compared to previous years
Plans for a travel ‘bubble’ between Australia and New Zealand has been in discussions for months
The bodies of seven men and four women were found in the bar in the early hours of Sunday morning in the city of Jaral del Progreso
This is the first time in ten years Ha Hoa District in Phu Tho Province has been battered by such heavy rains
At least 16 military members and several civilians were killed on Sunday in the heaviest clashes between Armenia and Azerbaijan since 2016
On Sunday 2230 GMT the disease had claimed 1,000,009 victims
He became completely blind at the age of nine
Good morning from Vietnam!
Vietnamese corporation, UN sign MoU on strategic partnership to support Sustainable Development Goals
They want to make Hanoi a ‘Creative Capital’