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Such target is provided in Decision 232/QD-TTg issued by the Prime Minister to approve a project on the establishment and development of Vietnam’s carbon market.
The initiative aims to create new financial flows for GHG reduction efforts, support the transition to green technologies, and enhance the competitiveness of Vietnamese businesses in both domestic and international markets.
The project is also designed to accelerate the development of a low-carbon economy and address climate change, working toward the goal of achieving net-zero emissions by 2050.
Additionally, the project aims to boost the management capacity of relevant Government agencies and raise awareness among businesses, organizations and individuals about the carbon market.
The project introduces two primary market commodities: Greenhouse Gas Emission Quotas and Certified Carbon Credits, which will be tradable.
It also outlines a detailed roadmap for the carbon market, with a pilot phase running from 2025 to 2028 and the market officially launching nationwide in 2029.
Under this project, key tasks include developing the carbon market’s commodities, registering participants, creating a national registry and carbon trading platform, organizing market operations, and enhancing awareness and capacity building.
By: VLLF
