G7 will provide Vietnam with $15.5 billion to help it move away from coal. Britain has announced the mix of loans and grants, which will help Vietnam's greenhouse gas emissions peak by 2030 (Source: Reuters) and reach 47% renewable electricity production by the same date.
Vietnam is among the top 20 largest users of coal in the world. Similar agreements have already been announced with Indonesia and South Africa, two other carbon-intensive developing nations, after the COP27 climate summit, as richer nations face pressure to achieve "climate justice" and help poorer ones develop sustainably.
