Domestic carbon exchange makes debut

Deputy Prime Minister Tran Hong Ha has signed Decree 29 on the domestic carbon exchange, establishing a comprehensive legal framework for the organisation and operation of Vietnam’s carbon market.

Taking effect on January 19, the new Decree specifies that greenhouse gas (GHG) emission allowances and carbon credits traded on the carbon exchange are those permitted for exchange under Decree 06 of 2022 on greenhouse gas emission mitigation and ozone layer protection, as amended and supplemented under Decree 119 of 2025.

Under Decree 29, GHG emission allowances and carbon credits must be centrally registered on the national registration system on GHG emission allowances, carbon credits of the Ministry of Agriculture and Environment before being deposited and traded on the domestic carbon exchange.

The decree states that the Ministry of Agriculture and Environment records information about GHG emission allowances, carbon credits and the emitting agencies and organisations on the national registration system.

As soon as the registration is completed, the Ministry of Agriculture and Environment will send the Vietnam Securities Depository and Clearing Corporation (VSDC) the list of organisations owning the GHG emission allowances and carbon credits registered on the system.

The Ministry of Agriculture and Environment will issue domestic codes for GHG emission allowances and carbon credits on the national registration system. These codes will be sent to the VSDC and the Hanoi Stock Exchange on the same day. Domestic codes are to be used uniformly for all professional operations specified in this Decree.

The domestic carbon exchange will be developed and operated according to the road map specified in Decrees 06 and 119.

Notably, during the pilot operation phase of the domestic carbon exchange that will last until December 31, 2028, the Vietnam Stock Exchange, Hanoi Stock Exchange and VSDC will not collect service fees. 

- (VLLF)