The virtual meeting came after both countries pledged to achieve net-zero emissions by 2050 at the 26th U.N. Climate Change Conference of the Parties (COP26) in 2021.

At the meeting (Photo:

Thanh highlighted Vietnam’s National Climate Change Strategy (2021-2030) with a vision to 2050, which outlines measures for adaptation and mitigation. He pointed to numerous international agreements, including the Framework Agreement 2021 with the RoK as crucial steps in tackling climate change.

Vietnam’s updated Nationally Determined Contribution (NDC) submitted to the U.N. Framework Convention on Climate Change in 2022 commits to a 15.8% reduction in greenhouse gas emissions by 2030, he said, adding that the country is planning a pilot domestic carbon market in 2025, with full operation targeted for 2028.

Looking ahead to COP29, Vietnam hopes for clearer guidelines on climate finance goals and the establishment of rules for bilateral cooperation on carbon credit exchanges under the Paris Agreement’s Article 6, he said.

He expressed Vietnam’s desire to learn from the RoK's experience in developing its domestic carbon market and facilitating international carbon credit exchange, particularly for bilateral agreements.

Kim, for her part, highlighted the active participation of both sides in implementing the Framework Agreement, with the potential for further collaboration, especially on carbon markets.

Representatives from Vietnamese ministries presented proposals to strengthen bilateral cooperation in the field.

The Korean side also proposed projects on greenhouse gas reduction, including initiatives in non-fired brick production, rooftop solar power, biomass fuel use in industrial boilers, among others.

Source: VNA