At the High-Level Segment of the COP30 in Belém, Brazil, the Socialist Republic of Viet Nam’s delegation, led by Deputy Minister Le Cong Thanh, recalled the principle of Common but Differentiated Responsibility and Respective Capabilities (CBRD-RC), demanding stronger action and financial commitment from the developed world.

Mr. Le Cong Thanh, Viet Nam’s Deputy Minister of Agriculture and Environment and Head of their COP30 delegation, Viet Nam urged developed countries to fully honor their responsibilities by adopting stronger commitments to reduce greenhouse gas emissions and to “deliver on their financial pledges by leading the mobilization of at least USD 300 billion annually and working toward a total of US$1.3 trillion per year by 2035 to support developing nations.”

“Urgent action is needed to rebalance financial resources for adaptation and mitigation, and to increase grant-based support and concessional loans substantially,” he also said, stressing that funding for adaptation must account for at least 50% of the total climate finance provided to developing countries.

At home, Viet Nam is taking concrete steps to fulfill its Paris Agreement commitments.

Earlier this year, the Prime Minister approved a three-phase roadmap for establishing a national carbon market. The plan begins with a Pilot Emissions Trading System (ETS) from 2025 until 2028, focusing on allocating initial allowances to high-emitting facilities in sectors such as thermal power, cement, and steel to test market infrastructure. Full nationwide implementation is scheduled for 2029, with expanded sectoral coverage and the introduction of allowance auctions. The roadmap highlights the critical role of the private sector in building and sustaining the carbon market, ensuring bankable programs and new financial flows for climate action.

In November 2024, Viet Nam updated its National Adaptation Plan (NAP) 2021–2030, the country’s central framework for strengthening climate resilience. The updated NAP lays out more detailed strategies to enhance adaptive capacity, improve disaster risk reduction, and mobilize the USD 55–92 billion needed for adaptation finance by 2030.