Establishing a carbon market is a difficult and complex problem.

DNVN - Vietnam currently has about 150 programs and projects that have been granted 40.2 million carbon credits. According to the Government 's roadmap, the domestic carbon market will be piloted in 2025 and officially operated from 2028.

At the 26th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP26), Vietnam committed for the first time to achieving net zero emissions by 2050. This goal has also been included in the National Strategy on Climate Change for the period up to 2050, according to Decision 896/QD-TTg dated July 26, 2022 of the Prime Minister .

Along with implementing activities and measures to reduce greenhouse gas emissions and increase greenhouse gas absorption, carbon markets are one of the effective tools to achieve the Net Zero target.

Speaking at the opening ceremony of the seminar “Carbon credit market – the road to Net Zero” on the morning of August 23, Deputy Editor-in-Chief of the People’s Representative Newspaper Le Thanh Kim said that the world is moving very quickly in the green development process. Green growth is no longer an option, but an urgent need for every country today.

Delegates attending the discussion emphasized that carbon markets are effective tools to achieve the Net Zero target.

In Vietnam, the Party and State have paid great attention to green growth. The Resolution of the 13th National Party Congress clearly stated “building a green economy, a circular economy, and an environmentally friendly economy”. The Government has also issued the National Green Growth Strategy for the period 2021 - 2030, with a vision to 2050.

Statistics show that to date, 48 countries have implemented mandatory carbon markets. In addition, there are voluntary carbon markets established by businesses and international organizations. Although there is no global consensus on the exchange of emission quotas and cross-border carbon credits, 82 countries and territories have signed agreements on the exchange of carbon quotas and credits.

“In Vietnam, there are currently about 150 programs and projects that have been granted 40.2 million carbon credits and are implemented according to international carbon credit exchange and offset mechanisms for exchange on the world carbon market.

According to the Government's roadmap in Decree 06/2022/ND-CP regulating greenhouse gas emission reduction, the domestic carbon market will be piloted in 2025 and officially operated from 2028. Establishing a carbon market is a difficult and complicated issue," said Ms. Kim.

Pursuant to the Prime Minister’s direction, the Ministry of Finance has developed a project to establish a carbon market, aiming to develop a compliant carbon market in Vietnam. Thereby contributing to the goal of reducing greenhouse gas emissions, promoting the development of low-emission technologies; contributing to improving the competitiveness of enterprises.

Ha Anh

Source: https://doanhnghiepvn.vn/kinh-te/thanh-lap-thi-truong-carbon-la-van-de-kho-phuc-tap/20240823124152683