The domestic carbon credit market will not launch until 2028, yet there is now a huge potential of benefits from a great number of buyers and sellers.

This initiative aims to boost centralisation, transparency, and overall efficiency in managing related transactions, according to Tang The cuong, Head of the Department of Climate Change under the Ministry of Natural Resources and Environment.

Vietnam is expected to collect US$200 million from selling certificates of forest carbon credits.

Vietnam is seeking investment in clean energy as part of its scheme to develop a carbon market to achieve net zero emissions by 2050.

Vietnam will officially run a carbon trade exchange in 2028, according to the draft of a project on the development of a carbon market in Viet Nam conducted by the Ministry of Natural Resources and Environment.

Carbon credits are gaining traction in the agriculture sector as an instrument to promote sustainable farming practices and improve farmer income.

A seminar on opportunities for developing a carbon market in Vietnam took place in Hanoi on April 20.

Many countries are adopting emissions trading systems (ETS) as a means to reduce annual emissions and mitigate climate change. Therefore, Vietnamese companies must understand and actively participate in this market, whether they like it or not.

A meeting was held in Hanoi on June 26 to review the project on support for preparing the readiness to carry out the international framework “Reducing Emissions from Deforestation and Forest Degradation” (REDD+) in Vietnam Phase 2 (FCPF-2).