Vietnam to pilot operating carbon trade exchange from 2025

QNN |

Hanoi (VNA) - Vietnam plans to set up and pilot the operation of a carbon trade exchange from 2025, according to a new Government decree on greenhouse gas (GHG) emissions and Ozone layer protection.

A carbon credit is a kind of permit that represents one tonne of carbon dioxide removed from the atmosphere (Photo: moit.gov.vn)
A carbon credit is a kind of permit that represents one tonne of carbon dioxide removed from the atmosphere (Photo: moit.gov.vn)
 

The document stipulates several articles of the Law on Environmental Protection, and maps out a roadmap to the domestic carbon market foundation and development.

From now until the end of 2027, the country will put forward regulations on the management of carbon credits, the exchange of GHG emission quotas and carbon credits, and the operation of a carbon credit exchange.

It will also carry out a pilot mechanism for exchanging and balancing carbon credits in potential areas, guide the implementation of the domestic and international carbon credit exchange and balance mechanisms in accordance with laws and international conventions to which Vietnam is a signatory.

Activities to raise capacity and awareness of carbon market development will be stepped up during this period.

The carbon trade exchange is expected to be put into official operation in 2028.

A carbon credit is a kind of permit that represents one tonne of carbon dioxide removed from the atmosphere. They can be purchased by an individual or, more commonly, a company to make up for carbon dioxide emissions that come from industrial production, delivery vehicles or travel./.

VNA

TAGS

Vietnam highlights general approach to security in context of climate change, terrorism

QNN |

New York (VNA) - Ambassador Pham Hai Anh, Chargé d’Affaires a.i. of Vietnam to the United Nations, has stressed the need for a general approach method to security issues in the context of climate change and terrorism, while addressing the UN Security Council’s open debate on “Maintenance of international peace and security:  Security in the context of terrorism and climate change” on December 9.

Climate change response should be integrated into socio-economic development plans: workshop

QNN |

Hanoi (VNA) – Natural disaster prevention and control should be integrated into socio-economic development plans, especially in localities, experts said at a workshop on December 3.