{"id":126932,"date":"2022-12-16T12:25:06","date_gmt":"2022-12-16T06:55:06","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=126932"},"modified":"2022-12-16T12:25:07","modified_gmt":"2022-12-16T06:55:07","slug":"g-7-agrees-15-5b-energy-deal-with-vietnam-to-cut-emissions","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/g-7-agrees-15-5b-energy-deal-with-vietnam-to-cut-emissions\/","title":{"rendered":"G-7 Agrees $15.5B Energy Deal with Vietnam to Cut Emissions"},"content":{"rendered":"\n<p><strong>G-7 Agrees $15.5B Energy Deal with Vietnam to Cut Emissions: <\/strong>A pact to give Vietnam $15.5 billion to help the Southeast Asian country move faster from coal power to renewable energy and reduce its climate-damaging pollution was approved by a group of nine rich industrialised nations.<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.gkseries.com\/blog\/category\/daily-quiz\/daily-quiz-december-2022\/\" target=\"_blank\" rel=\"noreferrer noopener\">December 2022 Current Affairs Quiz<\/a><\/strong><\/p>\n\n\n\n<p><strong>More About This Development:<\/strong><\/p>\n\n\n\n<p>The&nbsp;Group of Seven major economies, along with&nbsp;Norway and Denmark, said in a statement that the aim is to help Vietnam reduce its emissions to&nbsp;\u201cnet zero\u201d by 2050, a goal which expert say needs to be met globally to cap global warming at 1.5 degrees Celsius.<\/p>\n\n\n\n<p><strong>About This Initiative:<\/strong><\/p>\n\n\n\n<p>Developing and developed countries are negotiating a series of agreements, including the Just Energy Transition Partnership with Vietnam. The first such deal was signed with&nbsp;South Africa&nbsp;last year, and a similar agreement was reached with&nbsp;Indonesia&nbsp;last month.<\/p>\n\n\n\n<p><strong>Significance Of This Move:<\/strong><\/p>\n\n\n\n<p>Vietnam is a&nbsp;dynamic, emerging economy&nbsp;at the heart of Southeast Asia,\u201d&nbsp;British Prime Minister Rishi Sunak said. \u201cThe investment we are making today means the country can cut its emissions while simultaneously creating new jobs and growth.<\/p>\n\n\n\n<p><strong>About The Transition:<\/strong><\/p>\n\n\n\n<p>The $15.5 billion of funding will come from&nbsp;public and private sources&nbsp;over the coming three to five years, much of it in the form of loans, according to the agreement.<\/p>\n\n\n\n<p>By using the money to expand its electricity grid and increase renewable energy production, Vietnam will be able to bring forward its target for&nbsp;peaking emissions from 2035 to 2030. Additionally, the country will increase its forecast 36% share of renewable energy in power by 2030 to 47%.<\/p>\n\n\n\n<p><strong>About G7:<\/strong><\/p>\n\n\n\n<p>The G7 or the&nbsp;Group of Seven&nbsp;is a group of the seven most advanced economies. The seven nations are France, Germany, Japan, the United States, Canada, and the United Kingdom.<\/p>\n\n\n\n<p>It started out in 1975. Annual G7 summits are held to discuss issues like international security, energy policy, and global economic control. All the G7 countries and India are also the&nbsp;part of G20. The G7 does not have a fixed headquarters. The&nbsp;UK currently chairs&nbsp;the G7 and has invited India along with Australia, the Republic of Korea and South Africa as guest countries for the G7 summit.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>G-7 Agrees $15.5B Energy Deal with Vietnam to Cut Emissions: A pact to give Vietnam $15.5 billion to help the Southeast Asian country move faster from coal power to renewable energy and reduce its climate-damaging pollution was approved by a group of nine rich industrialised nations. December 2022 Current Affairs Quiz More About This Development: [&hellip;]<\/p>\n","protected":false},"author":894,"featured_media":126933,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[4992],"tags":[4916],"class_list":["post-126932","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-december-2022","tag-national-current-affairs"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/126932","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/894"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=126932"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/126932\/revisions"}],"predecessor-version":[{"id":126934,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/126932\/revisions\/126934"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/126933"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=126932"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=126932"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=126932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}