At the event, organizers highlighted that Vietnam is now facing a "golden opportunity" to develop its carbon credit market. This favorable context is shaped by the Government’s commitment to achieve net-zero emissions by 2050, the upcoming pilot implementation of a domestic carbon credit exchange, and growing international pressure to comply with mechanisms like the Carbon Border Adjustment Mechanism (CBAM).
Vietnam is also widely recognized for its strong potential to generate carbon credits across multiple sectors, including forestry, agriculture, and transportation. For instance, the Vietnam Association of the Elderly’s initiative to plant 16 million trees could yield between 150,000 and 250,000 credits annually.
The Can Gio mangrove forest (HCMC) could produce 1 to 5 million credits per year. Additionally, 86,780 hectares of rubber plantations may generate 800,000 to 1.5 million credits, while 105,000 hectares of sustainably cultivated coffee could produce between 105,000 and 525,000 credits annually. Large-scale solar and wind power projects could add 2.7 million credits per year, and a proposed program to convert 400,000 gasoline-powered motorbikes to electric in HCMC is expected to generate more than 400,000 credits annually.
A representative from the Department of Climate Change under the Ministry of Agriculture and Environment explained that Vietnam’s carbon market will consist of two components: a compliance market—also known as the greenhouse gas emission quota trading system—and a voluntary market for trading carbon credits. Between 2025 and 2026, facilities in thermal power generation, steel, and cement production will be assigned emission quotas and permitted to participate in the compliance market. All carbon credit-generating projects within Vietnam must be registered and reported through the national registry for greenhouse gas emission quotas and carbon credits.
The Department of Climate Change pledged to continue offering technical, legal, and professional support to ensure that innovative initiatives and projects can move swiftly from planning to implementation, making tangible contributions to Vietnam’s emission reduction goals and low-carbon economic development.
During the event, CCTPA signed a series of strategic cooperation agreements with key partners:
Global Carbon Council (GCC): This partnership designates GCC as CCTPA’s strategic ally in carbon credit validation and verification, ensuring quality and transparency in carbon trading.
Tan Thuan Industrial Promotion Company (IPC Tan Thuan): The two sides will jointly pioneer rooftop solar power initiatives and a sustainable green industrial zone model.
Ho Chi Minh City Institute for Development Studies (HIDS): HIDS will play a critical role in CCTPA’s ambitious plan to convert 400,000 gasoline motorbikes to electric. Both entities also plan to pilot a carbon credit project in HCMC to help kick-start the voluntary carbon market.
Vietnam Association of the Elderly: CCTPA is proud to support the association’s impactful “16 Million Trees for Vietnam” campaign. The project not only focuses on reforestation and sustainable livelihoods but also empowers the elderly to become agents of green transformation.
Bach Khoa Solar Energy Development Investment Joint Stock Company: The partnership will accelerate the adoption of clean energy while generating high-quality carbon credits to support emission reduction targets.
Vietnam Green Innovations Joint Stock Company (Green In): Green In will play a key role in expanding the carbon market in Northern Vietnam, distributing the ESG management platform Sustain.Life, and executing green energy and emission reduction projects in the region.
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