[{"bbox": [96, 151, 1135, 261], "category": "Text", "text": "In December 2022, the government signed a political declaration with the International Partners Group⁷ led by the EU and the United Kingdom of Great Britain and Northern Ireland (UK) to establish the Energy Just Transition Partnership, which will mobilise at least $15.5 billion through a combination of appropriate financial instruments to support the needs of Viet Nam's just energy transition."}, {"bbox": [96, 269, 1135, 510], "category": "Text", "text": "While the ambitions of the above Vietnamese vision are high, implementation progress is slow. The business sector in the country is facing increasing challenges in demonstrating their compliance with environmental standards set by its major export markets, including the European's. The government of Viet Nam has expressed its strong interest in learning from the EU experiences and receiving EU's technical assistance to materialize its strategy objectives, particularly the development of a responsible, smart and circular economy. By leveraging circular and responsible economy practices alongside digital transition, Viet Nam can sustain its economic growth while reducing its environmental footprint. Team Europe has extensive knowledge and experience to share in this field and can build on its existing strong international cooperation to assist Viet Nam in key policy areas of the EU's Green Deal, the EU Circular Action Plan and the Global Gateway."}, {"bbox": [96, 520, 1135, 708], "category": "Text", "text": "This action will contribute to two priorities of the MIP 2021-2027, namely (i) climate-responsive digital circular economy and (ii) responsible entrepreneurship and enhanced skills for decent employment. It complements other on-going and upcoming supports to Viet Nam, notably the Action Promoting Circular Economy in the Agriculture Sector, the Action Promoting Inclusivity and Partnership in Circular Economy, Budget Support programme on Sustainable Energy Transition, the Decent Work Programme, the Technical and Vocational Training Programme, the SWITCH-Asia Programme and the Project Enhancing Transparency and Traceability in the Garment and Footwear Industry."}, {"bbox": [96, 718, 1135, 880], "category": "Text", "text": "It will contribute to the Commission objectives and priorities, notably to the European Green Deal, the Global Gateway strategy, the EU Circular Economy Action Plan, and their related policies and strategies. The European Green Deal demands a transformational change to make the Europe the first climate neutral continent in the world by 2050. Most recently, the 'Fit for 55' legislation sets legally binding climate targets covering all key sectors of the economy. To ensure a level playing field for European companies, the Carbon Border Adjustment Mechanism requires that imported goods pay an equivalent carbon price on targeted sectors."}, {"bbox": [96, 890, 1135, 1025], "category": "Text", "text": "The Global Gateway strategy is the EU's contribution to narrowing the global investment gap, supporting global economic recovery, and accompanying the twin green and digital transitions beyond European borders. Global Gateway covers both hard connectivity and the enabling environment, regulatory frameworks and norms and standards. It aims at boosting smart, clean and secure links in the digital, climate, energy and transport sectors, and to strengthen education, research and health systems across the world."}, {"bbox": [96, 1035, 1135, 1145], "category": "Text", "text": "The Green Deal Industrial Plan puts the Europe's net-zero industry in the lead in the transition to climate neutrality. One of the four pillars of the Industrial Plan facilitates open and fair trade, strengthening global cooperation and making trade work for the green transition. It is built on the engagement with the EU partners, including through the network of Free Trade Agreements and other forms of cooperation to build supply chain resilience."}, {"bbox": [96, 1155, 1135, 1340], "category": "Text", "text": "The EU's Circular Economy Action Plan 2020 puts the EU in the leading position to drive the global transition to a just, climate-neutral, resource efficiency and circular economy. Innovative models powered by digital technologies will not only accelerate circularity but also make us less dependent on primary materials. Scaling up the circular economy throughout the value chains, from front-runners to the mainstream economic players, will make a decisive contribution to achieving climate neutrality by 2050. Key product value chains requiring urgent actions are electronic and ICT, batteries and vehicles, packaging, plastics, textile, construction and buildings, food, water and nutrients."}, {"bbox": [96, 1352, 1135, 1541], "category": "Text", "text": "The **EU Corporate Sustainability Due Diligence Directive** aims to foster sustainable and responsible corporate behaviour by requiring companies to identify and address adverse human rights and environmental impacts in their operations and value chains. This directive will promote the green and circular transition by ensuring businesses minimise negative impacts and adopt sustainable practices, thus reducing environmental degradation and enhancing resilience to climate change. The directive mandates large companies to develop climate change mitigation plans aligned with the Paris Agreement, promoting transparency, legal certainty, and innovation, and setting a potential global standard for mandatory due diligence."}, {"bbox": [85, 1627, 1144, 1678], "category": "Footnote", "text": "⁷ The International Partners Group consists of the EU, the UK, the United States of America, Japan, the Federal Republic of Germany, the Republic of France, the Italian Republic, Canada, the Kingdom of Denmark and the Kingdom of Norway"}, {"bbox": [1034, 1678, 1144, 1704], "category": "Page-footer", "text": "Page 6 of 24"}]