The Department of Climate Change under the Ministry of Agriculture and Environment yesterday collaborated with the International Finance Corporation to convene the ‘Vietnam Carbon Market Forum 2025’ in Hanoi. During the forum, they announced the findings of a survey report evaluating the private sector's preparedness for carbon market participation across four key industries such as rice production, food and beverage, livestock, and waste management.
Director Tang The Cuong of the Department of Climate Change said that this is an opportunity for Vietnam to restructure its economy towards green and sustainable, improve competitiveness and expand international cooperation on investment and climate finance.
Vietnam's carbon market will undergo a three-phase development, according to Decision No. 232/QD-TTg issued on January 24, 2025. Before June 2025, the legal framework and technical infrastructure will be completed. From June 2025 to the end of 2028, the market will be established. It will then begin official nationwide operation starting in 2029.
Carbon markets will help control greenhouse gas emissions, creating a mechanism that allows businesses and organizations to buy and sell emission quotas and carbon credits. This mechanism also encourages businesses to switch to clean technology and use renewable energy, thereby increasing competitiveness in the international market.
