With its diversity, ranging from livestock, crop cultivation, and forestry, Vietnam’s agriculture sector has great potential to shift towards low-carbon emission production.
Petrovietnam Renewable Energy Corporation (PV Power REC) have signed a cooperation agreement with PVA Energy Solutions and the Republic of Korea’s tech firm 60Hertz to enhance Vietnam’s renewable energy sector using advanced information technology (IT) and artificial intelligence (AI).
The Singapore Carbon Market Alliance (SCMA) was launched recently, serving as a national platform that will help connect developers of carbon credit projects with potential buyers.
SK Ecoplant Co, an energy and environmental solutions provider from the Republic of Korea (RoK), said on June 11 that it has completed the installation of rooftop solar panels at Samil Vina plant in the southern province of Dong Nai.
Vietnam will promote the transition to technologies that utilise substances with low or zero global warming potential, and roll out sustainable cooling solutions to cut emissions by 11.2 million tonnes of CO2 equivalent by 2045 under a national plan on the management and elimination of ozone-depleting substances signed by Deputy Prime Minister Tran Hong Ha on June 11.
Prime Minister Pham Minh Chinh emphasised the urgent need to develop a carbon market and carbon credit management mechanisms in his recently-issued directive.
Prime Minister Pham Minh Chinh underscored the urgency of developing and implementing plans to mitigate greenhouse gas emissions, develop carbon markets, and establish mechanisms for managing carbon credits.
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
Vietnam has received a 51.5 million USD payment from the World Bank for verified emissions reductions - commonly referred to as carbon credits - for reducing 10.3 million tonnes of CO2 in the 2018-2024 period, said Director of the Department of Forestry under the Ministry of Agriculture and Rural Development (MARD) Tran Quang Bao at the ministry’s quarterly press conference on April 1.
FPT Information System Company Limited (FPT IS) and Carbon EX have just signed a Memorandum of Understanding on cooperation in providing services and solutions to promote carbon credit projects.
Vietnam’s carbon market is expected to thrive in the near future, given that the country has large forest reserves and many corporations stand ready to pour billions of US dollar to purchase forest carbon credits from Vietnam.
A carbon market will be one of the means for Vietnam to achieve the committed greenhouse gas (GHG) emission reduction targets, according to Nguyen Van Tue – Director of the Department of Meteorology, Hydrology and Climate Change.
