Vietnam revealed its Just Energy transition Partnership agreement on Friday at COP28, with the bulk of the funding to be provided in the form of loans for hydropower projects, Climate Home News is reporting. The agreement is mostly made up of loans as opposed to the grants that Vietnam wanted, which was reported earlier this year.
Of note, this article quotes Leo Roberts, a coal transition expert at E3G as saying:
“The investment plan is no longer the pathway to replacing coal power with clean alternatives the JETP originally promised. Instead, it focuses on expensive or unproven technologies… Those directly undermine the pace and scale of the energy transition.”