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.

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How developing countries can prosper in a rapidly decarbonising world - Pathways to Prosperity [PDF 2.92 MB]

'Pathways to Prosperity - Achieving lowest emissions development and the Sustainable Development Goals (SDGs)’, is a new work program to share learnings and build capacity across our regional neighbours, building on the proven ‘Pathways to Deep Decarbonisation in 2050 ’ approach. The program seeks to support capacity building in up to 10 developing countries across the Southeast Asia and Pacific Islands region, delivered through a partnership approach. The program challenges the current development paradigm by demonstrating that rapid development can be achieved without significantly increasing emissions, and that this decoupling gives developing countries the best chance to achieve prosperity in a rapidly decarbonising world.