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Video July 14, 2022

Vietnam Country Climate and Development Report: Reconciling Economic Successes with Climate Risks

The World Bank Group’s Country Climate and Development Report proposes ways Vietnam can boost its resilience to climate change and accelerate its transition to a low carbon economy, while achieving its development objective to become a high-income economy by 2045. Building a resilient economy and heading toward net zero will cost Vietnam around $368 billion between 2022 and 2040. The country will need to mobilize 6.8% of its GDP every year. Yet, these financing needs are lower than the the damages from climate change and rising GHG emissions, and can be funded by a combination of domestic and international financial sources.