Vietnam’s Ministry of Natural Resources and Environment is developing a Scheme for the Development of a Domestic Carbon Market, which aims to enforce the compulsory exchange of greenhouse gas emission quotas among domestic industries and businesses. The plan also considers international market integration. Vietnam is projected to generate about 10.8 million voluntary CO2 credits per year and has set a net zero emissions goal by 2050. The establishment of a domestic CO2 credit exchange will promote centralization, transparency, and efficiency in transaction management. The project is set to pilot in 2025, with official operation of a domestic CO2 market by 2028. However, infrastructure, techniques, inventory capacity, and corporate reporting need to be prepared to successfully implement the plan. Currently, Vietnam has four existing mechanisms for carbon credits: the Clean Development Mechanism, the Joint Credit Mechanism, Gold Standard, and Verified Carbon Mechanism. The Ministry of Natural Resources and Environment is launching a national registration system for CO2 credits, where all companies and organizations that generate CO2 credits will be required to register them. Prime Minister Pham Minh Chinh has urged the Ministry of Finance and the Ministry of Natural Resources and Environment to work on a decree regarding CO2 credit management, which is expected to be presented to the government in the second quarter of next year. The Ministry of Natural Resources and Environment will gather insights from other countries’ experiences with carbon markets and cooperate with other relevant agencies to ensure successful implementation.
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ICE is preparing to introduce a futures market for carbon credits under CORSIA, which will focus on reducing airline emissions.
Intercontinental Exchange (ICE) announced plans to launch a physically delivered futures contract for carbon credits eligible for use by the...
