Vietnam needs $35 bln for climate change adaptation: PM

At the summit, Phuc said Vietnam has restructured its economy toward a low-carbon model and reduced greenhouse gas emissions, while pledging to strengthen the resilience and adaptation of communities, economic stakeholders and the ecosystem in response to climate change.

The country would also step up disaster risk reduction, mitigate climate-related damage, invest in human resources, scientific research and the development of advanced technologies in the fight against climate change. Climate adaptation would also be further mainstreamed into national strategies and planning, it was added.

"Despite such efforts, our economy may only meet around 30 percent of our climate adaptation demands, and Vietnam needs an additional $35 billion between 2021 and 2030," Phuc said.

Increasing resilience among communities, industries and sectors against climate change, bolstering sustainable development, gender equality and poverty eradication, providing financial and technological support to developing countries and promoting multi-stakeholder partnerships for climate change adaptation would be key to tackle challenges posed by the climate crisis, he noted.

The CAS 2021, hosted online by the Netherlands on Jan. 25-26, would see the launch of a comprehensive Adaptation Action Agenda that sets out clear commitments to deliver new concrete endeavors and partnerships to make the world more resilient to the effects of climate change.

The online summit was attended by over 30 world leaders, including French President Emmanuel Macron, German Chancellor Angela Merkel and British Prime Minister Boris Johnson.

Former U.S. Secretary of State and Joe Biden's newly-appointed climate envoy John Kerry and Deputy Chinese Vice Premier Han Zheng also spoke at the summit.

Vietnam is one of six economies most affected by climate change between 1999 and 2018, according to the Global Climate Risk Index published by the German environmental think tank Germanwatch.

Within the period, the country suffered 226 extreme events, a death toll of 285 and losses of more than $2 billion per year.

Rising temperatures and sea levels, along with the increased frequency and intensity of extreme weather events combined with population growth and urbanization, are increasing the risk of coastal erosion, urban flooding and drought.