A policy seminar held in Hanoi on 26 October brought together officials, economists, and business leaders to assess the current state of Vietnam’s carbon credit market and propose measures for sustainable development. The event was jointly convened by the Central Economic Commission, the Institute for Training, Consulting and Economic Development (IDE), and the online journal Economics and Development, under the title “Carbon Credit Market: Fundamental Measures for Sustainable Development.”
A central concern raised at the forum was the low level of corporate awareness: a recent survey of 537 Vietnamese enterprises — conducted by an unnamed energy and environment consulting firm — found that over half had only a cursory understanding of emissions trading systems (ETS) and carbon markets, while just 1.27% reported substantive knowledge of ETS and carbon credit mechanisms. Dr. Nguyễn Tú Anh, Director of the Economic Information, Analysis and Forecasting Centre at the Central Economic Commission, noted that approximately 73 carbon pricing mechanisms are currently operating globally — across both voluntary and compliance markets — covering roughly 23% of total global greenhouse gas emissions. He argued that a credible national GHG inventory must be established before emission caps can be assigned, and that a coherent legal framework — defining participant rights, product standards, ownership rules, and pricing principles — is a prerequisite for a functioning market.
Speakers, including former National Assembly Office Deputy Chairman Dr. Nguyễn Sĩ Dũng, called for dedicated financial mechanisms to support enterprises engaged in carbon credit and allowance trading. A draft government scheme on establishing Vietnam’s carbon market envisages a nationwide pilot phase running from 2025 to 2028, followed by full official operations — including expanded participant categories and additional verified credit types — from 2029 onward. The market was framed as a key instrument for achieving Vietnam’s net-zero 2050 commitment and improving the international competitiveness of domestic businesses.
Carbon Market Context
- The research classifies this item under the emissions trading scheme topic query, consistent with the seminar’s focus on compliance-market architecture, including the MRV and cap-setting prerequisites discussed by speakers.
Source
- Đề xuất giải pháp phát triển bền vững thị trường tín chỉ carbon tại Việt NamBáo Nhân Dân — Chủ đề Thị trường carbon, 26 October 2024