Vietnam needs to soon have a carbon credit trading floor

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 from 2028.

Việt Nam cần sớm có sàn giao dịch tín chỉ carbon- Ảnh 1. — Vietnam needs to soon form a carbon trading market

Prof. Dr. Vo Xuan Vinh, Director of the Institute of Business Research (University of Economics , Ho Chi Minh City) said that Vietnam has 1,912 establishments conducting greenhouse gas emission inventories, which are potential targets for the carbon credit market. In addition, there are 276 projects with nearly 30 million carbon credits certified from projects under the Clean Development Mechanism (CDM). To date, more than 300 programs and projects have conducted voluntary carbon credit purchases and sales. With more than 14 million hectares of forest, Vietnam's potential for generating carbon credits is still very large.

Agricultural projects such as low-carbon farming and sustainable land resource management also have great potential to reduce greenhouse gas emissions and generate carbon credits.

Therefore, Professor Vinh suggested that it is necessary to establish a carbon credit trading floor soon. Developing a strong domestic carbon credit market is a key factor to promote the participation of businesses and people. This will create a platform for parties to transact transparently and effectively as well as encourage the participation of financial institutions and investment funds in this market.

In addition, the Government should encourage investment in green technology and emission reduction projects through financial support policies and tax incentives. This will also improve the production and business efficiency of enterprises. Renewable energy projects, energy-saving technology and improving clean production processes are areas that need to be prioritized for investment to achieve sustainable development goals…

Source: https://thanhnien.vn/viet-nam-can-som-co-san-giao-dich-tin-chi-carbon-185240612192637694.htm