Vietnam has participated in the 11th International Energy Agency (IEA) Annual Global Conference on Energy Efficiency in Montreal, Canada in late June, reaffirming alongside the international community the principle that energy efficiency should be the first priority and supporting the goal of doubling the global rate of energy efficiency improvement by 2030.
The June 29-30 event brought together more than 600 delegates, including ministers and senior officials from over 40 governments, together with more than 70 leaders from major global energy, finance and technology companies. The conference took place against the backdrop of continued volatility in global energy markets, driven by conflict in the Middle East and disruptions to shipping through the Strait of Hormuz, a vital route for oil, liquefied natural gas and other essential energy commodities.
Participants agreed that improving energy efficiency is one of the fastest and most cost-effective ways to reduce energy bills for households and businesses while strengthening national energy security.
The message that "energy efficiency comes first" was reinforced in the Montreal Declaration on energy efficiency, also known as the Montreal Action Plan, adopted at the close of the conference. The declaration reaffirmed the goal of doubling the global average annual rate of energy efficiency improvement by 2030, a target first endorsed at the 28th United Nations Climate Change Conference (COP28) in 2023.
Ministerial discussions focused on two key priorities: protecting vulnerable groups, including low-income households and small and medium-sized enterprises, from energy price shocks, and strengthening long-term resilience through building retrofits, higher appliance efficiency standards, electrification, grid modernisation and greater private investment in energy-saving projects. Participants also shared a variety of policy experience.
Observers said Vietnam's participation is particularly significant as domestic electricity demand continues to rise alongside industrialisation, urbanisation and digital transformation. Many of the conference's key themes, including higher appliance efficiency standards, building retrofits, support for small and medium-sized enterprises, demand-side management, energy data systems and preparations for growing electricity demand from data centres, closely align with Vietnam's efforts to strengthen energy security and advance its green transition.
Participation in the Montreal Declaration also provides a foundation for Vietnam to explore deeper engagement with the IEA's multilateral energy efficiency initiatives, offering opportunities to access data, policy experience, technical tools and public-private partnership models in energy conservation./.
