The event, held in Ha Noi on July 17, is a milestone in Viet Nam’s roadmap to developing a domestic carbon market, as outlined in Government Decision No. 232/QD-TTg dated January 24, 2025. This roadmap outlines a pilot phase from 2025 to 2028, with the official launch of the exchange expected in 2029.
Speaking at the workshop, Truong Huynh Thang, Deputy Director of the Legal Department under the Ministry of Finance, reaffirmed that the establishment and operation of a domestic carbon market is a key strategic task. He emphasised that this reflects Viet Nam’s strong commitment to reducing greenhouse gas emissions, transitioning toward a green growth model, and fostering sustainable development.
Professor Michael Mehling from the Massachusetts Institute of Technology (MIT), the US, presented an analysis of oversight and market manipulation prevention mechanisms in the UK and California, highlighting practical lessons for Viet Nam. He stressed the importance of building a robust transaction monitoring system to ensure transparency, mitigate manipulation risks, and safeguard investors.
Dang Hong Hanh, CEO of the Viet Nam Energy and Environment Consultancy Joint Stock Company (VNEEC), the project’s lead consultant, presented a proposed operational framework for the carbon credit exchange.
She highlighted: “Developing a robust legal framework, efficient transaction mechanisms, and effective oversight is foundational for a transparent, efficient, and internationally integrated carbon market.”
The technical assistance project is funded by ETP and implemented by VNEEC. It aims to support the Ministry of Finance in preparing the necessary conditions for piloting the exchange, thereby contributing to the realisation of Viet Nam’s commitments under COP26.
