Over the past year, electric vehicles (EVs) have been promoted as a cleaner transport option for Vietnam’s cities. But a quieter market is taking shape—one that could become a real driver of EV adoption: carbon credits linked to vehicles and charging stations. As money starts to flow in, the story is no longer just about “electrifying transport.” It is shifting toward the “financialization of emissions.” In this race, a vehicle does more than use electricity—it generates data. When standardized, that data can be turned into revenue, helping to attract investment into EVs and charging networks. Rewards behind the wheel Two projects now seeking certification under Verra standards—a U.S.-based nonprofit that sets rules for carbon credits—offer a first look at the market’s potential. The Electric Mobility Program Vietnam (EMPV) (1), led by Switzerland’s Grutter Consulting AG, aims to generate more than 2.14 million tons of CO2 equivalent over 10 years, or about 214,000 tons a year, starting from September last year. At a reference price of US$35–40 per ton suggested by the developer, the project could be worth tens of millions of dollars. This pricing was shared during stakeholder consultations last August to give participants a sense of possible returns. Another […]