G7 agrees $15.5B energy deal with Vietnam to cut emissions

BERLIN (AP) — A group of nine rich industrialized nations has approved a deal to provide Vietnam with $15.5 billion to help the Southeast Asian nation cut its greenhouse gas emissions by shifting away from coal to renewable energy. The Group of Seven major economies, along with Norway and Denmark, said Wednesday that the aim is to help Vietnam reduce its emissions to “net zero” by 2050. The Just Energy Transition Partnership with Vietnam is among a series of agreements that developing and rich nations are negotiating. The first such deal was signed with South Africa last yera, and a similar agreement was reached with Indonesia last month.