Evidence from China and Vietnam as Key Emerging Economies
Leuven Global Governance series
Edited by Hans Bruyninckx, Qi Ye, Nguyen Quang Thuan and David Belis
Chapter 7: The role and dynamics of the Clean Development Mechanism in EU–Vietnam climate relations
The study of EU–Vietnam climate relations in this book primarily focuses on the functioning of the Clean Development Mechanism (CDM). Empirical evidence shows that the mechanism is currently the only main channel of bilateral climate action (interviews 2010). This introductory chapter of Part II of the book therefore offers a detailed study of the role and dynamics of the mechanism in the relationship between Vietnam, the European Union (EU) and the different governmental and business actors involved. It also sets the stage for the analysis of Vietnam’s experiences with the CDM from a bilateral, regulatory, environmental, socio-economic and business perspective in the ensuing chapters. Vietnam is an interesting case given its rapid process of industrialization – and hence increasing carbon dioxide (CO2) emissions; its integration in the global economy (Adams and Tran 2011; Beresford 2008; Chapponière et al. 2008; Fforde 2009; Grinter 2006); and its increasing ambition to be a key partner in the architecture and dynamics of the global climate change regime (Asian Development Bank 2009; interviews 2010; Mol and Van Buuren 2003; Sonnenfeld and Mol 2010). Whereas China is attracting large amounts of financial and technological support from industrialized countries, smaller developing countries in Southeast Asia are often disproportionately overlooked (see Nguyen and Tran, Chapter 8 in this volume). However there is strong potential and an increasingly urgent need for emissions mitigation in Vietnam (EIA 2012).
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