Vietnam’s green energy company to apply blockchain for carbon credits


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Vietnam’s Tin Thanh Group has collaborated with Centre for Quality Certification (QCC) to conduct carbon inventory and convert an annual reduction of 1 billion tons of carbon dioxide into NFTs (Non-Fungible Tokens). They aim to list these NFT carbon credits for sale on the Singapore Exchange.

Established in 2009, the Tin Thanh Group is a renewable energy company focuses on agricultural biomass energy, while QCC is the Centre for Quality Certification and Business Development under the Vietnam Union of Science and Technology Associations (VUSTA).

According to the agreement signed on April 9th, QCC will help Tin Thanh Group to clarify and calculate carbon emissions, carbon sink, and energy usage data, and draft up formal reports for various projects.

The group also announced the launch of NFT carbon credit trading on the Singapore exchange. NFT carbon credits are traded through blockchain technology, which enhances the liquidity and traceability of carbon credits.

Tran Dinh Quyen, Chairman of the Tin Thanh Group, stated that the Singapore exchange is global platform, enabling the trading of NFT carbon credits, which is convenient for both buyers and sellers. Enterprises, organizations, and Quality Carbon Credit Exchange (TTS) collaboration has dual benefits, as it not only reduces billions of tons of carbon emissions annually but also helps in achieving climate goals.

World Energy Council (WEC) Vietnam Representatives Office attended the signing ceremony to express their support for the collaboration between the Tin Thanh Group and QCC. WEC Vietnam pledged to actively participate in events organized by the headquarters, advocating for investment in energy projects for local businesses to facilitate Vietnam green transformation and sustainable development, thereby realizing Vietnam’s 2050 net-zero commitment.

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