Vietnam’s GHG Emissions Rise in 2024 Despite Renewable Energy Push

Vietnam recorded a noteworthy spike in greenhouse gas (GHG) emissions in 2024, particularly from its domestic electricity grid, a new research by Hà Nội University of Science and Technology in collaboration with the Ministry of Agriculture and Environment revealed. The study found that the grid released 0.681 tonnes of carbon dioxide equivalent (CO₂e) of emissions per megawatt-hour (MWh) of electricity generated, an increase of 3.2% from 2023. The increase in emissions is mainly due to a 17.7% increase in electricity generated from coal, now accounting for 49.5% of the nation's total power generation.

The findings of the study classify Vietnam's electricity grid as "brown," meaning high fossil fuel reliance, mainly coal. The reliance is a direct contrast to international climate mitigation efforts and is taking a step back in attempting to limit carbon emissions. The step back is particularly important as Vietnam is making a parallel effort to increase renewable sources such as wind and solar. The statistics highlight that, while renewables are on the rise, Vietnam's energy mix is still dominated by high-emission fuels, which collectively translate into an increase in carbon emissions. Power generation from coal remains the main source of Vietnam's power supply.

Even though it is economically viable and easily accessible, coal is also the most carbon-intensive fuel source. The growth in coal's percentage share in the energy mix identifies one of the largest hurdles for Vietnam's transition to cleaner and cleaner energy. This comes as the country is strongly marketing its commitment to reach net zero emissions by 2050 in the Power Development Plan VIII. The report also mentions the environmental effects of renewable technology, calling for the accounting of emissions within the complete lifecycle of technology. 

Solar energy, for example, although in most respects regarded as cleaner, might have various carbon effects on solar panels based on manufacturing route, material, and recycling at end-of-life. In certain instances, solar panel emissions can be practically on par with those of oil-based power plants, especially if not produced and managed sustainably. In response to such intricacies, the research seeks more transparency and accountability in emission reporting in the energy industry. It suggests the publication of national grid emission figures during the first quarter of every year to enable companies and stakeholders to monitor and report emissions in a better way. It further urges individual power plants to introduce periodic monitoring mechanisms and train employees on precise measuring and recording emissions.

This methodology is aligned with more extensive worldwide movement towards data-led climate action and enhances firm environmental, social, and governance (ESG) reporting frameworks. By providing timely and accurate emissions information, Vietnam will better align with global best practice and enable firms to better manage their carbon footprint.

In spite of the recent emission increase, Vietnam's long-term energy plan continues to be clean energy transition-oriented, according to the report. Power Development Plan VIII envisions phased coal reduction and transition to cleaner sources like solar, wind, and even hydrogen in the far future. Such transition, if properly managed, would be the key to bringing the nation to its net zero goal and to meeting its global climate pledges.

Although difficulties continue short-term, particularly with increasing use of coal, Vietnam's acknowledgement of the issue and intended policy action show evidence of a consistent commitment to sustainability. Proper working of emission tracking systems, developing capacity within the energy sector, and effective enactment of environmental legislation will be needed to lower subsequent emissions.

The research provides a critical evaluation of Vietnam's current energy landscape, highlighting the imperative of implementing structural reforms and effective measures to limit GHG emissions. Even while sustaining economic growth with environmental concern remains a salient issue, long-term tracking, technological development, and following long-term objectives can guide the country towards more sustainability.

Source/Credits-KnowESG | Hà Nội University of Science and Technology | Vietnam Ministry of Agriculture and Environment | VNS