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Saturday, June 15, 2024

National carbon trade exchange proposed

The Saigon Times

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HCMC – Deputy Minister of Finance Le Tan Can has proposed establishing the national exchange for carbon credit trading to promote a low-carbon economy and combat climate change.

During a conference held on January 8 to discuss the project of creating a carbon credit market in Vietnam, Can said the market will be developed in line with practical conditions, tapping resources of all economic sectors to reduce greenhouse gas emissions.

The carbon credit market in Vietnam will include two types of commodities: greenhouse gas emission quotas and carbon credits authorized by the ministry for trading on the domestic carbon credit market exchange.

Deputy Prime Minister Tran Hong Ha, who presided over the conference, said that  the establishment of a carbon credit market will contribute to fulfilling Vietnam’s commitment to achieving net-zero greenhouse gas emissions by 2050.

“The objective is to create a public and transparent carbon credit market based on determining total greenhouse gas emissions and allocating emission quotas to localities and sectors,” said Ha.

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