In November 2021, during the COP26 summit, Vietnam committed to achieving net-zero emissions (NZE) by 2050. Large investments and deep transformation of all sectors of the economy will be needed to achieve the net-zero emission target. Finding the optimal investments and combinations of resources to decarbonize the economy of Vietnam while ensuring energy security and a fair and just energy transition requires a dedicated analytical process.
The purpose of the assignment was to deliver a model-based scenario assessment of Vietnam energy system transition towards net-zero emissions by 2050 supporting the implementation of the National Energy Master Plan and the Just Energy Transition Partnership (JETP) program. The study was funded by the Southeast Asia Energy Transition Partnership (ETP).
The diagnostic was based on the analysis of seven sensitivity scenarios, carried out with the TIMES-Vietnam energy system model, complemented with stakeholder consultations. Recommendations on cost-effective low carbon development pathways highlighted the likely technological developments and the total costs and financing needs to achieve the low carbon targets. A portfolio of sectoral policies was suggested, including short-term measures.
Eneris was responsible for the overall project coordination and led results analysis and reporting.
