Challenges to a projected carborn market
To meet global greenhouse gas emission reduction targets based on agreements reached at the COP 21 and COP 26 meetings, one key strategy proposed by the UN is the creation of carbon credit markets, both globally and within individual countries. These markets would not only expedite the reduction of greenhouse gas emissions but also provide crucial financial resources, particularly for developing countries.
With the 2025 pilot launch of a carbon credit trading platform approaching, however, Vietnam still faces numerous challenges in establishing its own market.
Dr. Ha Duy Ngoc, a member of the Vietnam Institute of Economics, highlighted that the primary challenge is related to policy. Vietnam lags significantly behind leading countries and regions in green transition, such as South Korea, China, Japan, and the EU, particularly in developing supportive policies and effectively implementing a carbon market. The existing policy framework only covers basic aspects like assigning tasks for market formation and defining market components, leading to practical challenges in execution.
Việt An
