Vietnam’s energy transition deal is a ‘black box’, partner warns

(Climate Home News, 13 Mar 2023) A government partner in a $15.5 billion deal to help Vietnam move away from coal has described the package as a “black box”.

Details of the agreement to accelerate Vietnam’s energy transition remain unclear even to the southeast Asian nation, according to Sunita Dubey, Vietnam’s country lead for the Global Energy Alliance for People and Planet (Geapp), which supports the government’s transition plans.

“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,” Dubey told Climate Home in an interview, lamenting a lack of transparency over the financing arrangements offered by wealthy nations.

She added that the details should be revealed in an investment plan expected later this year.

In December 2022, Vietnam became the third country to agree a Just Energy Transition Partnership (JETP) with a group of wealthy countries and development banks to wean itself off coal, which currently generates most of its electricity.

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Climate Home News, 13 Mar 2023: Vietnam’s energy transition deal is a ‘black box’, partner warns