Viet Nam’s increased attention to climate change and the environment reflects the growing economic costs of resource depletion and climate impacts, which have already started to harm trade and investment — two key drivers of the nation’s robust growth and job creation in recent decades.
The country now faces critical questions about how to respond to climate change: How intensively should it work to adapt to previous and predicted damages caused by climate change, given the uncertainty of global mitigation efforts? How much will it cost to reduce GHG emissions? How can the private sector be mobilized to help achieve Vietnam’s climate goals? Are there trade-offs between adaptation and mitigation investments? Are there trade-offs between economic growth, poverty reduction, and climate action, and how can they be managed?
This report investigates these questions. It pays special attention to policy trade-offs and provides recommendations to help policymakers prioritize among a range of options, recognizing uncertainties about future climate change impacts and the availability of technology and financing.
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