Horizon to horizon: A Pacific Island country guide to creating long term climate resilience, net zero emissions development, and a sustainable future was developed in close consultation with stakeholders from across the Pacific. This tailored guide outlines a step by step process, specifically for Pacific island countries, to assist in the design of their own long term economy-wide strategies, identifying and solving roadblocks to implementation, and determining financing needs and sources.
Vietnam stands at an inflection point, primed to take advantage of strong policies and human and natural capital to build its competitive advantage in a low-carbon economy. Our analysis with Vivid Economics highlights how Vietnam is already a specialist in components required for smart grids and energy storage with promising opportunities in other technologies such as solar PV and wind power. A low-carbon industrial strategy can help realign Vietnam’s economy towards these increasingly profitable sectors and help maintain its high economic growth. If implemented, Vietnam stands to gain substantially from this strategy, with some estimates indicating savings of over US$23 billion to 2030. These savings are predicted to come from a renewables-led pathway where renewable energy generation capacity will quadruple in the same period.