ENVIRONMENTAL SUSTAINABILITY IN VIETNAM: THE ROLE OF ALTERNATIVE ENERGY, GDP GROWTH, NATURAL RESOURCES

Abstract

Vietnam, significantly impacted by climate change, aims for net zero
emissions by 2050, supported by the National Climate Change Strategy and
the Just Energy Transition Partnership (JETP). Despite these efforts, Vietnam’s
Power Development Plan 8 (PDP8) indicates continued fossil fuel reliance
until at least 2030. This study examines the impact of alternative energy
resources, natural resources, and government spending on Vietnam's
ecological sustainability from 1990 to 2021, using the Environmental Kuznets
Curve (EKC) framework. The findings reveal an inverse relationship between
CO2 emissions and renewable energy use and natural resources, while CO2
emissions positively correlate with economic growth, contradicting the EKC
hypothesis. Effective policies require equitable distribution and adherence to
regulations. Vietnam should enhance renewable energy adoption, enforce
stricter regulations on natural resource exploitation, integrate environmental
impact assessments into economic planning, and foster public awareness and
education on sustainable practices. These strategies will support Vietnam’s
transition to a sustainable economy, aligning economic growth with
environmental preservation.