Promoting the operation of carbon exchanges.

Developing a carbon market is a crucial tool contributing to environmental protection and green economic development. Therefore, delegates suggested that the operation of a national carbon exchange should be promoted soon, creating a transparent platform, increasing control over the value of carbon credits, and distributing benefits directly to the community.

Lack of transparent carbon pricing and market mechanisms.

Discussing the report on the results of the thematic monitoring of "the implementation of policies and laws on environmental protection since the Environmental Protection Law of 2020 came into effect," delegates stated that the Environmental Protection Law and its guiding decrees and circulars have laid a clear legal foundation for the formation and operation of a domestic carbon market, including a carbon credit exchange, expected to be operational from 2029.

National Assembly Deputy Ha Hong Hanh (Khanh Hoa) stated that Vietnam has great potential for absorbing and reducing emissions, especially in areas such as renewable energy, agriculture , forestry, waste management, and processing industries. It is estimated that the natural and planted forest sector alone can provide tens of millions of carbon credits annually, equivalent to hundreds of millions of USD in legally valued and traded assets.

Delegate Ha Hong Hanh (Khanh Hoa) delivered a speech.

Delegates noted that many large enterprises have proactively participated in this mechanism, conducting greenhouse gas inventories, registering emission reduction projects according to international standards, and preparing their capacity to participate in the exchange. This demonstrates the increasing awareness and proactiveness of the private sector.

However, the implementation of carbon credit trading mechanisms in our country still faces many difficulties. These include an incomplete institutional framework and detailed guidelines; regulations on emission quota allocation, measurement methods, assessment reporting, and mechanisms for connecting with international markets are still under development. This leaves many businesses unsure where to begin and unclear about the process for creating and certifying carbon credits domestically.

Notably, technical capacity and data are limited. Currently, only about 2-3 centers in the country have the capacity to conduct greenhouse gas inventories that meet international standards. Emission data in many sectors is incomplete and inconsistent, making it difficult to determine quotas and monitor emission reduction results.

"We also lack transparent pricing and market mechanisms. The domestic carbon exchange is not yet officially operational, while connecting to the international market requires meeting many complex standards. Therefore, businesses wanting to sell carbon credits have to go through international intermediaries, incurring high costs and reducing actual benefits," delegate Ha Hong Hanh pointed out.

Tax incentives for pioneering businesses that reduce emissions.

To promote the effective development of the carbon credit market, delegate Ha Hong Hanh proposed that the legal framework should be finalized as soon as possible, especially the decrees on the operation of the carbon exchange. Regarding the allocation, purchase, and sale of emission quotas, the responsibilities of each ministry, sector, and locality in inventorying and verifying emission reductions need to be clearly defined.

Simultaneously, establish a national database system on greenhouse gas emissions, unified from the central government to enterprises. Invest heavily in measurement, verification, and monitoring technologies to ensure transparency and reliability.

Representative Ha Hong Hanh noted that attention and support must be given to businesses undergoing transformation. The State should have policies to train, advise on green credit, and provide tax incentives for pioneering businesses in reducing emissions, support costs and audits, and assist with credit registration for small and medium-sized enterprises…

National Assembly Deputy Nguyen Thi Lan Anh ( Lao Cai ) also proposed that the Forestry Law and the Environmental Protection Law be amended soon to include regulations and conditions for carbon credit investors. This includes regulations on the percentage of greenhouse gas emission quotas allocated free of charge through auction; regulations on the responsibilities of inspection and monitoring; and the addition of fees and charges related to the carbon credit clearing and settlement mechanism.

National Assembly Deputy Nguyen Thi Lan Anh (Lao Cai) delivered a speech.

Implement several international exchange regulations on greenhouse gas emission reduction and carbon credits; regulations on carbon sequestration and storage services by forests; tax incentives, financial support, and investment incentives for projects such as renewable energy, sustainable agriculture, and forest protection.

Representative Nguyen Thi Lan Anh proposed that it is necessary to promote and expedite the operation of the national carbon exchange, creating a transparent platform, increasing control over the value of carbon credits, and distributing benefits directly to the community. Attention should be paid to localities with high forest cover rates to enable their early participation in the carbon market. Technical and financial support should be provided to help businesses, especially small and medium-sized enterprises, participate in this market.

" Invest in technology and infrastructure, apply artificial intelligence (AI), Zepp, satellites, blockchain, and store forest data to ensure transparency in carbon credit provision. Prioritize native multi-layered forests, both for disaster prevention and mitigation, and for building key carbon-based ecological zones," the delegate proposed.

In parallel, delegates suggested that bilateral agreements should be established with developed countries to export carbon credits, generating foreign exchange and enhancing Vietnam's standing.

National Assembly Deputy Trinh Minh Binh ( Vinh Long ) delivered a speech.

Emphasizing that developing a carbon market is an important tool contributing to emission reduction, environmental protection, and green economic development, National Assembly Deputy Trinh Minh Binh (Vinh Long) suggested prioritizing resources and high-quality human resources for the allocation of emission quotas and the operation of the carbon market; and promoting the training and development of experts capable of managing, trading, and operating the domestic market at a level comparable to the region and internationally…

Delegates emphasized that the carbon credit market is not only a tool for fulfilling environmental commitments but also an opportunity for Vietnam to build a green, sustainable, and competitive economy, contributing to the Net Zero goal by 2050.

Source: https://daibieunhandan.vn/thuc-day-van-hanh-san-giao-dich-carbon-10394594.html