The potential for a carbon market in Vietnam is huge, given that the country is expected to generate approximately 10.8 million voluntary carbon credits per year. The growing need for efficient exchange and purchase mechanisms has sparked active discussions on establishing a domestic carbon credit exchange.
Among them, Vietnam’s Standard Chartered Bank has cooperated with the Climate Change Bureau of the Ministry of Resources and Environment and Climate Impact X (CIX) on the 20th to discuss the establishment and operation of a voluntary carbon credit trading platform in Vietnam.
All participating units communicated, discussed, and clarified problems faced by Vietnam's voluntary carbon credit trading platform, as well as the development roadmap of Vietnam's carbon credit market. According to this map, the relevant regulations and trading basis will start to be implemented in 2025. The voluntary carbon credit trading platform will be regarded as a pilot to prepare for the mandatory carbon credit trading platform, officially launched in 2028.
