A government partner in a $15.5 billion deal to help Vietnam move away from coal has referred to the package as a “black box”.
According to Sunita Dubey, Vietnam’s national director for the Global Energy Alliance for People and Planet (Geapp), which supports the country’s plans for energy transition, details of the agreement to hasten Vietnam’s energy transition are still unknown, even to the Southeast Asian country.
Lamenting a lack of transparency over the financing arrangements offered by wealthy nations, Dubey said: “The terms and conditions for… the funding are not currently clear to the broader development community, including the [Vietnamese] government. We have been asking G7 [countries]. I believe even Vietnam has been asking G7.”
Read Also: UNCC boss says new mechanism provides key tool for countries to meet climate goals
She added that the specifics should be disclosed in an investment strategy that is anticipated later this year.
Vietnam signed the Just Energy Transition Partnership (JETP) in December 2022, making it the third nation to do so. The JETP calls for a transition away from coal, which now provides the majority of Vietnam’s electricity, and involves a group of affluent nations and development banks.
Concerns about the deal’s lack of openness come after complaints about the secrecy of energy transition agreements with South Africa and Indonesia.
Story was adapted from Climate Home News
