P4G Summit: Vietnam’s PM outlines 3 initiatives for sustainable green transformation

In his opening speech at the High-Level Discussion, Prime Minister Pham Minh Chinh said that for a sustainable green transformation with people at the center, the discussion would offer countries a chance to exchange ideas and build an action program based on three pillars:

First, create inclusive, fair green institutions, placing the market at the core of regulation and using resource allocation as the foundation; second, create green economic capacity; and third, create a green international cooperation framework with broad, multi-sectoral and multi-actor linkages.

To carry out these “three creations,” the P4G partnership must take the lead, open new paths, and test new policies and ways to connect resources, especially by boosting PPP and channeling support from developed countries to developing ones during the green transition.

PM Chinh also put forward specific proposals to accelerate a sustainable and inclusive green transition. As a platform that drives public-private partnership (PPP) and links governments, businesses, and socio-political organizations, P4G should continue delivering financial and technical support for climate change prevention, developing impact mitigation solutions, and strengthening climate resilience.

The international community must join forces and step up efforts to meet the goals and commitments of sustainable green transformation, putting people at the center, and upholding the spirit of "say it, do it; commit to it, fulfill it; implement it, achieve real, concrete results."

Developed countries need to strengthen their pioneering role by providing greater financial support, transferring technology, and sharing management experience, helping developing and underdeveloped countries move through the green transition, achieve sustainable development goals, and secure people's livelihoods.

Models of cooperation, such as PPP, tripartite cooperation, and South-South and North-South collaborations, need to expand, creating mechanisms and favorable conditions for people and businesses to invest in green transformation and sustainable development projects.

Via a pre-recorded message to the Plenary Discussion, French President Emmanuel Macron highly appreciated P4G’s activities and Vietnam's proactiveness and positivity in sustainable development issues. He thanked Vietnam for its close coordination in implementing JETP and the Paris Agreement initiative for people and the planet.

Emphasizing “no country should have to choose between fighting poverty and saving the planet”, the French President affirmed the goal of mobilizing the necessary financial resources through reforming multilateral mechanisms and mobilizing private finance. He called on countries to support the 1982 United Nations Convention on the Law of the Sea and the Conservation and Sustainable Use of Marine Biodiversity in Areas Beyond National Jurisdiction (BBNJ).

Dutch PM Dick Schoof shared the geographical similarities and appreciated the long-standing cooperative relationship between Vietnam and the Netherlands, including in sustainable development. The Dutch PM affirmed that determination, long-term vision, and PPP are the keys to promoting both economic growth and sustainable development.  

At the discussion session, delegates discussed the advantages and challenges of promoting green transformation, shared development experiences, policy priorities, and solutions to promote green growth and sustainable development, and emphasized that there are only five years left to implement the Sustainable Development Goals, but many goals are behind schedule or even reversed.

In the context of increasingly severe climate change and complex disasters, green transformation and human-centeredness have become inevitable. However, uncertainties in the world situation can create many great challenges, especially for developing countries and vulnerable groups in society.

In that context, delegates all affirmed the importance of international cooperation, acknowledged the contributions of P4G in strengthening cooperation and mobilizing resources for green growth and sustainable development, and especially appreciated Vietnam's organization of the P4G Summit at present.

Many opinions were shared about development experiences, efforts to implement commitments on reducing greenhouse gas emissions, carbon neutrality; and proposed solutions to mobilize resources for green transformation, emission reduction as well as credit guarantee mechanisms, green finance, PPP, support for small and medium enterprises, diversifying the power grid, etc.

During the discussion, several partners also announced support for green transformation, with Korea pledging to continue providing financial support in 2025 for P4G projects.

Concluding the meeting, PM Pham Minh Chinh highly appreciated the delegates' thoughtful and profound sharing, ideas and proposals. The Vietnamese PM emphasized that green transformation and green growth are inevitable trends that cannot be reversed or delayed. The current context requires a "global, all-people, comprehensive" approach and the role of international solidarity and multilateralism.

All efforts for green transformation and sustainable development must be linked to people, for people, and people-centered, without sacrificing social and environmental progress in exchange for mere economic growth. PM Chinh believes that developing science, technology, and innovation must truly be the key to green transformation and digital transformation.

The Prime Minister thanked and appreciated the contributions of the country and partners to the discussion, thereby promoting partnerships and cooperation in exploiting resources to open up a green and sustainable future for all people.

On this occasion, the Prime Minister thanked the leaders of the countries for sending high-level delegations to attend the Conference, showing their support and contribution to the common development of the Earth and demonstrating their affection for Vietnam, for the green transformation process of a country emerging from war.

Through that, the Prime Ministers of friendly countries have helped Vietnam in the cause of defending the Fatherland and Vietnam has identified its responsibility to the international community and its role as a good friend, an important partner and a responsible member of the international community.