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Vietnam makes efforts to develop domestic carbon market

In the context that about 70 countries and territories have applied carbon pricing instruments, experts held that Vietnam should also apply such tools, especially by developing the domestic carbon market, in order to support the realisation of the country’s greenhouse gas (GHG) emissions reduction target.
Vietnam makes efforts to develop domestic carbon market ảnh 1Illustrative image (Source: AFP/VNA)
Hanoi (VNA) – In the context that about 70countries and territories have applied carbon pricing instruments, experts heldthat Vietnam should also apply such tools, especially by developing the domesticcarbon market, in order to support the realisation of the country’s greenhousegas (GHG) emissions reduction target.

Following the Paris Climate Accords, Vietnam must fulfillits mandatory obligation to reduce greenhouse gas emissions from 2021 accordingto the Nationally Determined Contribution (NDC). The country also needs to makeefforts to reduce GHG emissions towards the goal of net-zeroemissions by 2050.

Statistics show that carbon pricing tools control about 23%of total global emissions in 2023.

In Vietnam, the voluntary exchange of carbon credits with the world has beencarried out by businesses since the mid-2000s in projects and programmesunder the Clean Development Mechanism (CDM) - a UnitedNations-run carbon offset scheme allowing countries to fund GHGemissions-reducing projects in other countries and claim the saved emissions aspart of their own efforts to meet international emissions targets.

Data from the Department of Climate Change (DCC) under the Ministry of NaturalResources and Environment show that to date, more than 300 programmes and projects haveregistered to be implemented with carbon credit mechanisms. Of these, about 150programmes and projects were granted more than 40.2 million carbon credits whichhave been exchanged on the world carbon market.

According to the Government’s Decree 06/2022/ND-CP on theroadmap for the domestic carbon market development, until 2027, Vietnam willimplement a number of activities such as developing regulations for carboncredit management, exchanging greenhouse gas emission quotas and carbon credits,building regulations for operating the carbon credit exchange, and piloting thecarbon credit exchange and offset mechanism in potential areas and guiding theimplementation of the domestic and international carbon credit exchange andoffset mechanism in accordance with the provisions of law international treatyto which Vietnam is a member.

At the same time, Vietnam will pilot a carboncredit exchange from 2025, and implement capacity building activities and raisepublic awareness of carbon market development.

DCC Vice Director Mai Kim Lien said that along with coordinatingwith relevant agencies to build policies in the field, the department hasworked with specialised agencies to collect data on GHG emissions serving the allocation of GHG emission quota, while holding activities toraise awareness of the carbon market among officials, public workers and businessesin many localities across the country. A national registration system will beset up to manage all carbon credits generated in the territory of Vietnam, sheadded./.

VNA

The Phuoc Thuan Border Guard Station and competent units in Ho Tram commune, Ho Chi Minh City, on June 4 rescued a rare sea turtle caught in a fishing net and safely released it back into the sea.

The elongated tortoise is one of the most beautiful and rare terrestrial tortoise species, listed in both the Vietnam Red Data Book and the International Union for Conservation of Nature (IUCN) Red List of Threatened Species. It typically inhabits tropical and subtropical forests and plays an important role in maintaining ecological balance. However, due to illegal trade and habitat loss, its wild population has been declining sharply.

The Japan International Cooperation Agency (JICA)-funded technical cooperation project on drainage management for climate resilience in Can Tho aims to improve planning capacity for wastewater collection, enhance operations and management of existing treatment plants, and the city’s ability to run public awareness campaigns.

A series of environmental and marine-related events to held in the central province of Nghe An from June 4-6 will generate a broad social impact, helping transform awareness into action and commitments into concrete results, and contributing to Vietnam’s goals of green growth, circular economy development, net-zero emissions and harmonious coexistence between people and nature.

According to marine experts, the repeated appearance of dolphins near the shore of Cai Chien Island is a positive sign that the local marine environment is well protected.

According to the Department of Forestry and Forest Protection, as of May 12, more than 1,350 communes and wards nationwide were under the highest forest fire warning of Level 5, while 294 others at Level 4.

To support conservation efforts, the national park has invested in a comprehensive system of breeding enclosures, quarantine areas, reproductive research facilities, wastewater treatment systems and surveillance cameras.

The climate resilience and sustainable infrastructure project in Lang Son consists of two main components, focusing on sustainable infrastructure and environmental improvement; and technical assistance and capacity building, with AFD experts expected to train project management officials and local agencies in disaster response and climate adaptation.

Beyond helping Hai Phong tackle environmental issues, Eco Hopia's primary objective is to transfer advanced technologies to Vietnam, enabling local partners to master them and contribute to the sustainable development of the country's agricultural sector.

The number and activity of tropical cyclones and depressions over the East Sea, internationally known as the South China Sea, and their direct impacts on mainland Vietnam are expected to be comparable to the multi-year average. The long-term average over the East Sea is 5.2 typhoons, with 1.9 making landfall.

Launched in 2021 with funding from the Norwegian people through WWF-Norway and WWF-Vietnam, the “Hue – Plastic Smart City in Central Vietnam” project aims to help Hue protect rivers, wetlands and coastal ecosystems from plastic pollution while building the city into a model plastic-reduced urban area in central Vietnam.

The Bac Lieu Forest Protection Unit under the provincial Forest Protection Sub-Department said that it had completed procedures to transfer and release the animal into its natural habitat.

Initiatives on biodiversity finance, carbon credits, public – private partnerships, nature-based tourism, and private sector investment are creating more opportunities to increase resources for ecosystem conservation and restoration, said an official.

Vietnam has established a network of 180 terrestrial and marine nature reserve covering more than 2.67 million hectares. These sites are being further strengthened to improve ecological connectivity, restore habitats and conserve endangered species. Forest cover remains stable at over 42%, contributing to water protection, climate adaptation and carbon absorption.

The animals included two masked palm civets, four stump-tailed macaques, and seven rhesus macaques. All belong to Group IIB under Circular No. 85/2025/TT-BNNMT issued by the Ministry of Agriculture and Environment on the management of endangered, precious and rare species, as well as the implementation of the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES).

The animal was identified as a clouded monitor (Varanus nebulosus), weighing approximately two kilograms and measuring around 70 centimetres in length. The species belongs to Group IB — a category of endangered and rare forest wildlife species given the highest level of protection in Vietnam, with all forms of commercial exploitation and use strictly prohibited.

The stump-tailed macaque, scientifically known as Macaca arctoides, is classified as a rare and endangered species under Group IIB in Vietnam’s regulations on endangered wildlife management.

Ho Chi Minh City aims to push urban green coverage above 1 sq.m per person by 2030, while stepping up greenhouse gas reduction initiatives on the way to Net Zero by 2050.

Designed to process 2,000 tonnes of waste per day and generate 45MW of electricity for the national grid, the project is the first high-tech waste-to-energy plant in southwestern Hanoi, where large-scale solid waste treatment facilities have long been lacking.

The figure includes losses of 6.7 billion VND in Cao Bang province and 3.5 billion VND in Dak Lak province, while Quang Ninh and Thanh Hoa provinces have yet to report estimated damages.