The forum, organized by the Ministry of Agriculture and Environment under the theme "From Policy to Action," brought together policymakers and market participants to discuss the development of the country's emerging carbon market.
Mr. Tran Trong Kien, Deputy Head of the Derivatives Market Department at the Hanoi Stock Exchange (HNX), said the carbon trading system had remained stable since its pilot launch.
The platform is integrated with the ministry's National Registration System, allowing emissions allowances to be tracked and updated throughout the process, from allocation to trading.
The national registry currently manages about 510 million tons of carbon dioxide equivalent (tCO2e) in emissions allowances for 2025-26. Ninety-two organizations have registered to participate in the market, primarily from three major emitting sectors: steel, cement, and thermal power.
In the first trading session on June 29, the VN2025 allowance recorded a trading volume of 1,210 tCO2e. The allowance closed at VND130,000 per tCO2e, after reaching an intraday high of VND136,000, with total trading value at VND161.66 million.
Mr. Tran Trong Kien stressed that HNX provides only the trading infrastructure. All information relating to the underlying assets, including emissions allowances, carbon credits, quantities, trading schedules and ownership, is managed by the national registration system.
Allowances and carbon credits must first be registered in the national system and transferred to the custody system of the Vietnam Securities Depository and Clearing Corporation (VSDC) before companies can trade them on the exchange.
The market also operates on a real-time T+0 settlement mechanism. Once buyers have sufficient funds and sellers have adequate allowances or carbon credits in their custody accounts, transactions are completed immediately after confirmation, reducing settlement risks and strengthening market security.
Mr. Le Cong Thanh, Deputy Minister of Agriculture and Environment, said the carbon market would enable businesses to identify cost-effective emissions-reduction solutions and improve their ability to meet increasingly stringent green standards in international markets. It could also attract additional international finance, technology, and expertise to support Vietnam's green transition.
The ministry will continue refining the legal framework, technical infrastructure, and systems for measuring, reporting, and verifying emissions, while strengthening dialogue with businesses to improve market operations.
The ultimate goal is to establish a transparent and efficient carbon market, gradually integrate it with regional and global markets, and support Vietnam's commitment to achieving net-zero emissions by 2050.
