On September 17, 2024, in Hanoi, 80 delegates from projects under the International Climate Initiative (IKI) framework, along with German and Vietnamese partners, exchanged knowledge and experiences at the annual IKI Vietnam Workshop.
As countries prepare to update their Nationally Determined Contributions (NDCs) next year, the workshop, themed “Economic Instruments in NDC 3.0,” discussed the opportunities and impacts of economic tools in promoting climate protection and biodiversity.
Ms. Carolin Voigt, Policy Advisor at the Division for International Biodiversity Cooperation of the Federal Ministry for the Environment, Nature Conservation, Nuclear Safety and Consumer Protection (BMUV), highlighted that the International Climate Initiative (IKI) is a crucial part of the German government’s international commitment to providing financial support for climate change. Since 2022, IKI has been jointly implemented by the Ministry for Economic Affairs and Climate Action, BMUV, and the Federal Foreign Office (AA).
For Vietnam, Germany recognizes the country’s vulnerability to climate change due to its extensive coastline. Hence, Germany pledges to support Vietnam in achieving its climate goals, ensuring a just energy transition, developing the carbon market, and conserving biodiversity.
Since the launch of its first project in 2008, the IKI Fund, with financial backing from the German Federal Government, has made significant contributions by promoting programs and projects in various fields to assist Vietnam in implementing the Paris Agreement and working towards sustainable development goals by 2030.
Currently, IKI is providing over 500 million Euros in funding for bilateral projects with Vietnam and activities within the framework of regional projects. The IKI portfolio in Vietnam now comprises 35 bilateral, regional, and global projects across four funding areas: greenhouse gas emissions mitigation, adaptation to climate change impacts, conservation and restoration of natural carbon sinks, and biodiversity conservation.
“The IKI strategy until 2030 will prioritize themes within three sectors: Energy Transition, Decarbonization of Industries, and Mobility Transformation. These sectors account for nearly 70% of global emissions.”
Dr. Philipp Behrens, Head of Division, International Climate Initiative (IKI) Fund
Dr. Philipp Behrens, Head of the International Climate Initiative (IKI) Fund at the Federal Ministry for Economic Affairs and Climate Action (BMWK), expressed his hope that the NDC Vietnam would serve as a foundation for developing additional investment mechanisms in the upcoming NDCs. He affirmed that IKI is ready to support Vietnam in this regard.
Dr. Nguyen Thi Dieu Trinh, Deputy Director of the Foreign Economic Relations Department, Ministry of Planning and Investment, appreciated the support of international partners, including IKI, in helping Vietnam access international climate and green finance.
“We appreciate the connectivity of the projects within the IKI framework. The network of IKI projects is not only able to share experiences and maintain close collaboration but is also facilitated to establish effective cooperation and dialogue with partner ministries and the German government as the donor,” said Ms. Trinh.
Mr. Daniel Herrmann, Principal Advisor of the IKI Focal Project at the German International Cooperation (GIZ), emphasized the need for global IKI implementation to address gender equality or just gender transition. Notably, the IKI projects are committed to establishing a Community of Practice for Promoting Gender Equality (CoP) in Vietnam to enhance learning, enable cooperation, broaden horizons, and foster coordination among projects in transformative gender-just approaches.
“We believe that the establishment of CoP lays the foundation for promoting future knowledge updates and sharing lessons learned on gender equality practices among IKI projects in Vietnam,” said Mr. Daniel Herrmann.
During the workshop, representatives from 27 IKI projects in Vietnam shared their perspectives on the opportunities presented by economic instruments for climate and biodiversity. Presentations from government agencies and group discussions underscored the importance of economic tools not only in the country’s decarbonization pathway but also in various aspects of IKI project operations.
The 2024 IKI Workshop concluded with valuable lessons and enhanced potential for collaboration among projects, thereby strengthening the IKI community in Vietnam and contributing to the country’s efforts in meeting its climate goals.
A Nature-Based Solution for a Greener and Happier Future
The 2019 United Nations Climate Action Summit shone a spotlight on Nature-based Solutions as a potent method to combat climate change.
