Vietnam should place importance on the panorama of investment in climate change in the country while building a plan on the implementation of the Paris Agreement on Climate Change.

This was among the solutions proposed at a meeting of a working group of the Ministry of Natural Resources and Environment’s Department of Meteorology, Hydrology and Climate Change, in Hanoi, on August 8.

It is necessary to set forth an investment strategy for the Intended Nationally Determined Contributions (INDCs), said Prof. , Dr. Tran Thuc, Vice President of the advisory council under the National Committee on Climate Change.

The INDCs is a term used under the UN Framework Convention on Climate Change (UNFCC) for reductions in greenhouse gas emissions that all countries that signed the UNFCC were asked to publish in the lead up to the UN Climate Change Conference in France last year.

Pham Van Tan, deputy head of the department, said the solutions should focus on climate change mitigation and adaptation, and resource development, stressing the need to ensure transparency and complete relevant policies and institutions.

Ministries, agencies and localities were assigned to roll out specific solutions to materialise the plan, which is set to be achieved by 2030, to mobilise and manage resources for climate change response.

Participants at the event also discussed the challenges and opportunities afforded by the Paris Agreement facing Vietnam and gave a preliminary assessment of the pact’s impact on the country.

The Paris Agreement was reached at the 21st Conference of the Parties to the United Nations Framework Convention on Climate Change (COP21) last December.

The Paris accord sets a target of limiting the planet’s warming to below 2 degrees Celsius compared with temperatures at the beginning of the Industrial Revolution, while aiming for an even more ambitious goal of 1.5 degrees Celsius.

VNA