A draft decree has revealed plans to establish a carbon credit
exchange and a green finance products exchange as part of Vietnam’s upcoming
International Financial Center (IFC) to be established in Ho Chi Minh City and Da Nang city. These platforms will operate alongside
exchanges for commodities, cultural products, and precious metals.
This proposal is a key component of the draft decree which is currently
undergoing consultation before it is submitted to the Government. The decree
aims to establish the regulatory framework for import-export activities,
service and goods distribution, and the operation of various trading platforms
within the projected IFC.
The IFC is envisioned as a comprehensive hub designed to host a
diverse range of exchanges, covering both traditional commodity markets and
emerging financial and commercial products.
According to the draft decree, members of the IFC will be
permitted to establish and operate exchanges and trading platforms in several
key areas, including: commodities and commodity derivatives, carbon credits, cultural
and artistic products, precious metals, green finance products, and other
specialized exchanges and new trade platforms as development demands.
The draft
stipulates that only products that meet environmental standards and
criteria—defined by the Ministry of Finance and the Ministry of Agriculture and
Environment in line with international practices—can be listed and traded. The
exchange will be responsible for transparently publishing independent audit
reports on the products’ “green” credentials, appraisal processes,
and investment capital flows.
The
carbon credit exchange will facilitate the trading of emission reduction
credits that conform to international standards. It will require a transparent
Measurement, Reporting, and Verification (MRV) mechanism, valid certification
from competent authorities, and strict compliance with regulations on data
storage, information disclosure, and fraud prevention in carbon trading.
