2023 Volume 26 Issue 1-2 Pages 49-56
Vietnam’s Prime Minister has committed the country to developing and implementing strong greenhouse gas (GHG) emission reduction measures with its own resources, with the cooperation and support of the international community, to achieve net-zero emissions by 2050. This paper introduces three models, Extended Snapshot, AIM/Enduse and AIM/CGE, that were used to assess the emissions, technology options and economic impacts of reducing the GHG emissions in the Net Zero Emissions scenario. The results show that 1) GHG emissions will reach their peak at 511 MtCO2 in 2030, and decrease to zero by 2050; 2) renewable energy and carbon capture and storage (CCS) are fundamental technologies for achieving great GHG emission reductions; and 3) the amount invested will be about 300 to 400 billion USD in the “Net Zero-CCS” (NZ-CCS) and “Net Zero-Renewable” (NZ-REN) scenarios, respectively. These findings imply that the goal of net-zero emissions is realizable in our simulations, but technological progress and diffusion as well as effective implementation of country-relevant climate policies will be indispensable.
