The Ministry of Finance proposed the establishment of a national carbon credit trading floor to increase competitiveness towards low-emission economic development and green growth.
The carbon credit market in Viet Nam has been built based on practical conditions, the country's development orientation, international commitment to reduce greenhouse gas emissions, and the trend of the global carbon credit market development. At the same time, it will contribute to making the most of the resources of domestic economic sectors in participating in activities to reduce greenhouse gas emissions.
According to the Ministry of Finance, many countries have established carbon credit trading floors, so Viet Nam needs to implement this model. Building a carbon credit market will ensure domestic transactions are transparent, safe, and consistent with Vietnamese conditions and international practices. Harmonizing the interests of participating subjects, helping to increase national competitiveness towards low-emission economic development and green and sustainable growth
According to this proposal of the Ministry of Finance, goods trading in the carbon credit market in Viet Nam include two types: greenhouse gas emission quotas and carbon credits certified by the Ministry of Natural Resources and Environment, which are traded on the domestic exchange.
Units participating in the transaction include emission enterprises subject to greenhouse gas inventory, Organize the implementation of projects to create carbon credits, Eligible organizations, and individuals to participate in investing and trading in carbon credits, and Transaction support organizations.
Chairing a meeting to discuss this issue, Deputy Prime Minister Tran Hong Ha recently emphasized that forming a carbon credit market means implementing the commitment to reduce net greenhouse gas emissions to zero (net zero) globally by using economic tools to manage greenhouse gas emissions of businesses. The goal is to create a public and transparent carbon credit market, based on determining the total emissions and allocating emission quotas to localities and sectors. Use economic tools to change awareness and behavior in greenhouse gas emissions.