Pilot operating carbon trading floor from June

Deputy Prime Minister Tran Hong Ha has just signed a decision to approve the project of establishing and developing the carbon market in Vietnam, January 25.

According to the project, Vietnam will proactively establish and develop the carbon market according to the centralized model, ensuring the market principles under the management and supervision of the State. This is aimed at increasing green conversion, towards net emission goal by “0” by 2050, raising the competitiveness of businesses in the market.

Specifically, from June 2025 to the end of 2028, the carbon exchange in the water will be operated pilot. Three years later, the floor will be officially operated.

Hanoi Stock Exchange (HNX) develops and provides domestic carbon trading floor services according to standards by the Ministry of Natural Resources and Environment and Finance.

Goods on the carbon credit market in Vietnam include two types: greenhouse gas emissions and carbon credit certified by the Ministry of Natural Resources and Environment. Each goods will be issued a single code, ensuring no coincidence. The subject when participating in the transaction has a depository account. The registration and issuance of codes is concentrated to ensure the data is uniform and synchronous.

Vietnam Securities Depository and Clearing Corporation provides depository and payment services. The automatic payment on the basis of the transaction results sent by HNX, according to the principle of goods transfer simultaneously with the payment at the payment bank.

Carbon credit (Carbon Credit) is a type of license or certificate that can be traded, valid for buying and selling and providing to the person holding a credit of an emissions of a ton of CO2 or other emissions on the gas list Greenhouse discharge.

In fact, the roadmap for reducing agriculture has been prepared since 2014, starting with the construction of carbon credit in the North Central region.

In October 2020, Vietnam and the World Bank (WB) signed 10.3 million carbon credits. Currently, Vietnam has transferred a portion of this credit and 5.9 million credits have not been transferred. The WB has proposed to transfer 4.9 million credits.

After completing the transfer of 10.3 million carbon credits, by March 2024, Vietnam has received a total amount of US $ 51.5 million from the WB. This amount has been allocated to localities. In particular, 6 provinces in the North Central region have paid for, benefiting about 7,000 forest owners. Currently, nearly VND 400 billion has been paid by localities in accordance with regulations.

Currently, Vietnam has implemented the project of 1 million hectares of rice, an important project to reduce the emissions of Mexico gas-a greenhouse gas that has a great impact on climate change.