Vietnam Signs Multi-Party Accords to Formalise Domestic Carbon Exchange Operations

Key regulators and market-infrastructure bodies convened in Hanoi on 22 June to sign a set of coordination memoranda that establish the operational and governance framework for Vietnam’s forthcoming domestic carbon exchange. The ceremony was organised by the Department of Climate Change under the Ministry of Agriculture and Environment, with representatives from the State Securities Commission, the Ministry of Finance’s Legal Affairs Department, and the technical teams involved in exchange preparation also in attendance.

Four bilateral and multilateral accords were concluded: between the Ministry of Agriculture and Environment and the Vietnam Exchange, the Vietnam Securities Depository and Clearing Corporation (VSDC), and the Hanoi Stock Exchange (HNX); between VNX and VSDC; between VSDC and HNX; and between VSDC and state-owned lender BIDV. The agreements formalise the division of responsibilities for data-sharing, trade reporting, public disclosure, and end-to-end processing of the registration, custody, trading, and settlement of greenhouse gas emission allowances and carbon credits, including incident response protocols. Under Government Decree No. 29/2026/NĐ-CP of January 2026, allowances and eligible credits are to be registered on a national registry managed by the Ministry, held in custody at VSDC, and traded through the HNX-operated trading system.

Speaking at the ceremony, Nguyen Tuan Quangcharacterised the signing as confirmation of organisational, technical, and operational readiness, and as a demonstration of collective commitment to deploying market-based instruments for emissions reduction and green transition. Hoang Van Thu, Vice Chairman of the State Securities Commission, described the accords as affirming coordination between regulators and exchange operators. The source also notes the government has separately issued a decision approving a total greenhouse gas allowance quota for pilot distribution to facilities in key emitting sectors, creating an initial pool of instruments for the exchange, and reaffirms Vietnam’s national target of net-zero emissions by 2050.