Vietnam Law Newspaper discusses carbon credit market from legal perspective

Speaking at the seminar, Journalist Ha Anh Binh, Deputy Editor-in-Chief of Vietnam Law Newspaper, said: To address the issue of climate change caused by greenhouse gas emissions as well as the commitment to reduce carbon emissions to zero by 2050, the Party and State have prioritized the development of a domestic carbon market policy, allowing carbon credit exchange activities, in accordance with the provisions of law and international treaties to which Vietnam is a member.

According to the plan, the pilot carbon credit market will start in 2025, the completion of the legal framework is expected in 2027 and the carbon credit trading floor will officially come into operation in 2028. However, the formation and operation of the carbon credit market is facing many difficulties.

Journalist Ha Anh Binh - Deputy Editor-in-Chief of Vietnam Law Newspaper sent his deep thanks and gratitude to experts, representatives of state management agencies, units, enterprises... who have accompanied the Newspaper throughout the journey of "removing legal obstacles" for the carbon credit market. Photo: Ngoc Mai

At the seminar, Prof. Dr. Vo Xuan Vinh, Director of the Institute of Business Research (Ho Chi Minh City University of Economics ) said: Developing a strong domestic carbon credit market is a key factor to promote the participation of businesses and people. The government needs to establish domestic carbon credit trading floors, creating a platform for parties to transact transparently and effectively.

Mr. Cao Tung Son - Head of Hydrometeorology and Climate Change Department - Ho Chi Minh City Department of Natural Resources and Environment presented a paper on the potential of the carbon market in Ho Chi Minh City - Opportunities and challenges. He said that Ho Chi Minh City has advantages in terms of location, organization and special capacity to gather different stakeholders in the carbon market ecosystem and implement many large-scale projects...

At the seminar, experts, leaders of functional agencies and enterprises had valid opinions, answering many questions, such as: Regulations of Vietnamese law on carbon credits; positive aspects, shortcomings, inadequacies, and problems related to current carbon credits in Vietnam; what benefits will people get when participating in the carbon credit market...

Source: https://www.congluan.vn/bao-phap-luat-viet-nam-toa-dam-ve-thi-truong-tin-chi-carbon-tu-gop-nhin-phap-ly-post299055.html