He made the revelation at yesterday’s seminar. According to him, Vietnam is working quickly to establish the carbon market, which should be finished by 2029. Ministries, agencies, and local administrations will concentrate on creating the infrastructure, legislative framework, and technical requirements for the carbon market’s operation between now and 2028.
According to the representative of the Ministry of Industry and Trade, Vietnam's newly established carbon market would provide enterprises with significant chances to cut their greenhouse gas emissions and engage in the green economy. Creating legislation pertaining to the reduction of greenhouse gas emissions and the creation of premium carbon credits is one of the main objectives.
In order to help businesses participate in the carbon market, the Ministry of Industry and Trade is working to increase their capacity. They are also assisting with the preparation of goods for the market, such as carbon emission quotas and carbon credits, which are the two main product types that can be traded.
The Ministry of Industry and Trade said that many enterprises have implemented programs and projects to create carbon credits and exchange carbon credits with the world in the voluntary market, especially carbon credits from programs and projects under the clean development mechanism.
According to the draft project on developing the carbon market in Vietnam from 2025 to 2028, the carbon market will be piloted nationwide.
From 2029 onwards, the carbon market will be officially operated nationwide and prepared for connecting the domestic carbon market with the region and the world.
