Vietnam is set to finalise the legal framework for its carbon market by June, paving the way for the exchange of greenhouse gas (GHG) emission quotas and carbon credits. This is reported by
Vietnam News Agency, a partner of TV BRICS.
The initiative, outlined in Decision 232/QD-TTg issued by the Prime Minister, aims to support GHG reduction targets while fostering sustainable economic growth.
The project is a key step toward achieving net-zero emissions by 2050, in line with Vietnam’s Nationally Determined Contributions (NDCs). It will introduce mechanisms for carbon credit trading and offsetting, establish necessary market infrastructure, and create financial incentives for businesses to invest in green technologies.
Vietnam’s carbon market will feature two main trading instruments: Greenhouse Gas Emission Quotas and Certified Carbon Credits, which will be tradable assets within the system. A pilot phase will run from 2025 to 2028, with full nationwide implementation set for 2029.
The initiative also focuses on enhancing regulatory capacity and raising awareness among businesses, organisations, and individuals about carbon market operations. Key tasks include registering participants, establishing a national carbon trading platform, and strengthening governance structures to ensure efficient market functioning.
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iStock
