Why G7 aims to crack Vietnam’s coal fix with RM68bil deal

Major polluter: People riding a motorbike past a power plant in Hai Duong province. Between 2017 and 2021, Vietnam’s power sector emissions from burning fossil fuels jumped by 65.3% to more than 121 million tonnes of CO2 or equivalent gases, data shows. — AFP

THE Group of Seven (G7) industrialised nations have pledged US$15.5bil (RM68.2bil) to help Vietnam transition away from coal, as part of a Just Transition Energy Partnership (JTEP) effort aimed at luring influential economies onto greener energy road maps.

There are several reasons why the G7 targeted Vietnam for special treatment, including that it was the ninth largest coal consumer and relied on coal to produce roughly half of its electricity in 2021, according to the BP Statistical Review of World Energy.