With its diversity, ranging from livestock, crop cultivation, and forestry, Vietnam’s agriculture sector has great potential to shift towards low-carbon emission production.
The project is designed to accelerate the development of a low-carbon economy and address climate change, working toward the goal of achieving net-zero emissions by 2050.
Carbon is an intangible commodity, but it is a product with significant value and potential for investment and business opportunities. However, it also presents many challenges for Vietnamese businesses that are not yet fully prepared, said experts at a seminar in Hanoi on December 25.
Prime Minister Pham Minh Chinh on December 9 issued a directive to push ahead with the implementation of the national green growth strategy for 2021 - 2030 with a vision to 2050, a bold step to deliver on the carbon neutraility target.
Vietnam needs to establish a specific roadmap for the transition to green energy as well as design and manage the emissions trading system toward the official operation of the carbon market in 2028, according to experts.
Vietnam will operate its carbon credit market on a trial basis during 2025-2028 without any sales to foreigners as well as regulations on credit exchanges with regional and global markets, heard a meeting in Hanoi on October 7.
The development of a carbon market is a crucial tool contributing to the national greenhouse gas emission reduction process. Establishing and operating this market will provide an opportunity to mobilize social capital for greenhouse gas mitigation activities.
Indonesia's Investment Minister Rosan Roeslani, who is also head of the Investment Coordinating Board (BKPM), is currently on a visit to Singapore with a view to attracting more investment to the archipelago nation.
With its tremendous potential in renewable energy and the carbon market, Vietnam will be highly attractive to investors, Deputy Prime Minister Tran Hong Ha stressed, while addressing a meeting in Hanoi on August 22 on seeking ideas towards completing a draft plan on carbon market development in Vietnam.
Prime Minister Pham Minh Chinh emphasised the urgent need to develop a carbon market and carbon credit management mechanisms in his recently-issued directive.
Vietnam's wood industry has opportunities to engage in the carbon market as the whole world is pushing ahead for a greener economy, heard a recent dialogue in Ho Chi Minh City.
An ongoing training course on the emission trading system (ETS) and carbon market has gathered 145 participants from relevant state agencies, organisations, and enterprises, making the first capacity-building activity in Vietnam with participation from both public and private sectors.
As an emission trading system (ETS) will be piloted next year and officially operated in 2028, a training course has been held starting on February 26 in Hanoi to promote understanding of the carbon market and ETS for Vietnamese public and private stakeholders.
Low-carbon economic development towards a circular economy is becoming an inevitable tendency in the framework of the green transition with the creation and development of carbon markets seen as an increasingly crucial tool.
Experts have shared international experience and gave recommendations for Vietnam in developing the domestic carbon market, including completing relevant institutions and policies, enhancing the quality of human resources and infrastructure systems, and promoting international cooperation mechanisms.
In the context that about 70 countries and territories have applied carbon pricing instruments, experts held that Vietnam should also apply such tools, especially by developing the domestic carbon market, in order to support the realisation of the country’s greenhouse gas (GHG) emissions reduction target.
National Assembly Chairman Vuong Dinh Hue met with visiting Singaporean Prime Minister Lee Hsien Loong in Hanoi on August 28, during which he underlined the necessity for the two countries to effectively implement their partnership in green economy - digital economy established in February this year.
