Vietnam joined four other Asia-Pacific nations in achieving its 2022 Nationally Determined Contributions (NDC) target, according to Pricewaterhouse Coopers (PwC).

While Asia-Pacific successfully reduced its carbon intensity rate by 2.8 percent in 2022, more than double the 1.2-percent rate recorded in 2021, only five countries - Vietnam, New Zealand, Pakistan, South Korea, and Singapore - in the region achieved their NDC targets, the audit and consulting major said in its Net Zero Economy Index for 2023, which was released last month.

Vietnam ranked fourth with a 6.5-percent decarbonization rate, trailing Singapore at 10.8 percent and New Zealand at 8.5 percent, and surpassing South Korea at 4.4 percent. 

Although Pakistan secured the first position at 15.2 percent, it faces a severe energy crisis.

The Net Zero Economy Index monitors the global decarbonization of energy-related carbon dioxide emissions by assessing the correlation between energy consumption, GDP, and the carbon content of that energy.

PwC’s 2023 Index highlighted that no economy in Asia-Pacific achieved a decarbonization rate in 2022 close to the 17.2-percent level necessary to meet the Paris Climate Agreement’s target of limiting global warming to 1.5 degrees Celsius.

Meanwhile, the region contributed to 48 percent of global emissions in 2022. 

Vietnam is positioned among economies with a slow or negative progress in reducing carbon intensity, heavily reliant on fossil fuels for economic growth. 

However, this group’s overall carbon intensity is lower than the G7 average, suggesting that reducing fossil fuel dependency could significantly impact carbon intensity.

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