Nordic Partnership Initiative in Vietnam launched in Durban
NDF has approved a grant of EUR 1.5 million for the Nordic Partnership Initiative in Vietnam
The main objective of the initiative is to demonstrate how developing countries can prepare and implement Nationally Appropriate Mitigation Actions (NAMAs), which make use of international finance and possible new market mechanisms.
The initiative intends to increase Vietnam’s readiness to benefit from international climate finance by exploring and addressing ways to decrease greenhouse gas emissions in the cement sector. The cement sector has been chosen as the pilot sector since it is the largest emitter of industrial greenhouse gases in Vietnam. There are currently approximately 50 cement plants and 100 production lines in the country. The sectors emission reduction potential has been estimated to be significant.
“The project will support practical preparatory work relating to NAMAs and generate insight into new market mechanisms. Vietnam will thus be a forerunner in the field of bringing added value beyond existing mechanisms,” says Martina Jägerhorn , Country Program Manager at NDF.
The Asian Development Bank is the Partner Agency and the Ministry of Construction is the Implementing Agency. NDF and other stakeholders launched the Nordic Partnership Initiative at COP17 in Durban. Implementation is expected to start during 2012.
