Vietnam, EU set investment plan for G7-backed energy transition

Hanoi seeks multilateral support for cutting coal reliance

20231201 Vietnam EU JETP event

Vietnamese Prime Minister Pham Minh Chinh, center, poses with European Commission President Ursula von der Leyen, right, and Claire Coutinho, Britain's secretary of state for energy security and net zero, in Dubai on Dec. 1. (Photo by Sayumi Take)

SAYUMI TAKE, Nikkei staff writer

DUBAI -- Vietnam and the European Union finalized on Friday a plan for mobilizing more than $15 billion of climate financing pledged last year by wealthy economies to help the fast-growing Southeast Asian nationĀ move away from coal power.

The EU-led initiative, known as the Just Energy Transition Partnership, was announced last December and is backed by the Group of Seven wealthy nations plus Denmark and Norway.

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