Việt Nam eyes $92 billion boost to tackle climate change costs

September 18, 2025 - 08:13
For many years, despite limited resources, Việt Nam has remained determined to respond to climate change.

 

A landslide caused by flash flood in Tuyên Quang Province. Climate change is one of main reasons of extreme weather. VNA/VNS Photo

HÀ NỘI – Việt Nam will need around US$55-92 billion to fully implement climate change adaptation tasks in the period 2021-2030, according to the National Adaptation Plan for Climate Change for the period 2021-2030, with a vision to 2050.

This figure is equivalent to 3-5 per cent of the country’s 2020 GDP.

Given that the State Budget can only cover a small portion, Việt Nam is expected to mobilise an additional $2.7-6 billion each year from extra-budgetary sources.

This poses a major challenge, underlining the necessity of international co-operation in finance, technology and capacity building.

For many years, despite limited resources, Việt Nam has remained determined to respond to climate change.

These efforts are demonstrated in improving the policy system, strengthening communication and education, promoting international co-operation and strictly implementing commitments under the Paris Agreement.

In November 2024, the Prime Minister approved the updated National Adaptation Plan for Climate Change for the period 2021-2030, with a vision to 2050, under Decision No 1422/QĐ-TTg.

The Ministry of Agriculture and Environment has completed the updated National Adaptation Plan (NAP) report and recently submitted it to the United Nations Framework Convention on Climate Change (UNFCCC) Secretariat.

This is an obligation of all UNFCCC member states.

To date, Việt Nam is among 65 countries that have submitted their reports to the Secretariat.

The updated 2025 NAP report reflects Việt Nam’s efforts to enhance climate resilience while promoting international co-operation and mobilising resources for adaptation solutions, contributing to the implementation of the country’s Nationally Determined Contribution (NDC).

The report highlights Việt Nam’s vulnerability to climate change due to its unique geography, with a long coastline, thousands of offshore islands and a mainland largely consisting of mountainous areas alongside fertile alluvial plains.

Two major deltas with high population densities are particularly exposed to the impacts of climate change and sea-level rise.

Climate change has already negatively affected various sectors, regions and localities across Việt Nam, posing tangible threats to sustainable development and poverty reduction goals.

This requires timely action to mitigate losses and strengthen climate risk management and disaster prevention.

Monitoring data shows that average temperatures are rising faster than the global average, rainfall patterns are increasingly erratic and extreme weather events are becoming more frequent and unpredictable.

The report’s key highlight is the assessment of achievements and limitations in climate change adaptation. Việt Nam has made remarkable progress in policy development, widespread disaster response programmes, expanded international co-operation and improved public awareness.

However, it also points out limitations such as the legal framework still requiring updates to match new contexts; limited financial resources; inadequate science and technology, especially in forecasting and early warning; and insufficient community and private sector engagement.

The report also presents the updated plan with the overarching goal of reducing risks and damages caused by climate change while enhancing the resilience of natural, economic and social systems.

This goal is accompanied by a vision that climate change adaptation must become an integral part of all national development strategies and plans.

The submission of the updated NAP report is not merely a procedural step but a demonstration of national responsibility, long-term vision and aspiration for green and sustainable development.

It also sends a message that in the global fight against climate change, Việt Nam will not stand aside but is ready to contribute and hopes to join hands in sharing resources and knowledge with the international community. VNS

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