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VIETNAM'S COMMITMENT
To The Paris Agreement And Net Zero 2050
Vietnam has committed to reducing its greenhouse gas (GHG) emissions by 9% by 2030 compared to business-as-usual levels, with the potential to increase this reduction to 27% with international support, in alignment with the Paris Agreement. A key component of Vietnam’s climate strategy involves enhancing energy efficiency across its government and commercial buildings, which are significant contributors to the nation’s energy consumption and carbon emissions.
However, Vietnam faces challenges such as outdated infrastructure and financial constraints that limit the adoption of energy-efficient technologies. ESCO Financial helps Vietnam overcome these challenges through its Energy Efficiency-as-a-Service (EEaaS) model, which provides the capital necessary to upgrade critical energy systems. This includes modernizing HVAC units, boilers, chillers, smart controls, motors, compressors, air handling units, and lighting systems, leading to substantial reductions in energy consumption and GHG emissions.
The International Performance Measurement and Verification Protocol (IPMVP) is essential in ensuring that Vietnam’s energy efficiency measures deliver measurable carbon reductions. By applying IPMVP, Vietnam can demonstrate the effectiveness of its initiatives, supporting its Paris Agreement commitments and attracting further international investment.
Vietnam also faces challenges in managing waste, particularly in reducing methane emissions from landfills. ESCO Financial’s Waste-to-Energy-as-a-Service (WtEaaS) model provides a sustainable solution by converting waste into energy, reducing landfill reliance, and aligning with Vietnam’s Paris Agreement goals. This approach accelerates Vietnam’s progress toward achieving Net Zero by 2050, contributing to both environmental sustainability and energy generation.
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