News
Building carbon credit management mechanisms crucial: PM
Prime Minister Pham Minh Chinh emphasised the urgent need to develop a carbon market and carbon credit management mechanisms in his recently-issued directive.In Vietnam, since the mid-2000s, many businesses have rolled out carbon credit programmes and projects, notably those under the Clean Development Mechanism (CDM). ...
Carbon credit market offers sustainable revenue
There have been positive signs since the Vietnamese Government committed to the goal of Net Zero Carbon Emission in 2050.Statistics from the Center for People and Nature (under the Vietnam Union of Science and Technology Associations (VUSTA)) reveal that by the end of November 2022, ...
Translated by Thanh Tam
Localities expand activities to develop carbon credit market
Localities across the country are undertaking activities to develop the carbon credit market. The development of the carbon credit market is considered a concrete step towards policies on reducing greenhouse gas emissions, allocating emission quotas, carbon credit trading and creating green financial resources for Việt ...
Revenue from carbon credits distributed to localities
Vietnam has received a 51.5 million USD payment from the World Bank for verified emissions reductions – commonly referred to as carbon credits – for reducing 10.3 million tonnes of CO2 in the 2018-2024 period. According to Director of the Department of Forestry under the ...
Vietnam eats forests by planting large timber forests to sell carbon credits
In the story ‘We Have Eaten The Forest’ of a Montagnard village in the Central Highlands of Vietnam, ethnologist Georges Condominas tells about the ancient way of ‘eating the forest’, which is to preserve the forest culturally. Nowadays, the descendants of characters in the story ...
WB's 51.5-million-USD payment helping Vietnam reduce emissions
Vietnam has received a 51.5-million-USD payment for verified emissions reductions (carbon credits) for reducing deforestation and forest degradation (commonly known as REDD+) and for enhancing carbon stored in forests through reforestation and afforestation.This makes Vietnam the first country in the East Asia-Pacific to receive a ...
Agriculture ministry wants to sell 5.9 million tons more of carbon dioxide
The Ministry of Agriculture and Rural Development (MARD) has reported to the government about the signing of documents on transferring 10.3 million tons of CO2 to the World Bank which will bring turnover of VND1.25 trillion.In the report to the Prime Minister on the implementation ...
Tam An
Measures to promote carbon trading platform in Vietnam
After the European Union (EU), the US will be the next to take its climate fight globally with the proposal of the Clean Competition Act, which, if passed, would impose border-adjusted carbon tariffs on its carbon-intensive imports.Nguyen Vo Truong An, Deputy director of the Carbon ...
EU's Carbon Border Adjustment Mechanism brings both challenges, opportunities
The European Union (EU)’s Carbon Border Adjustment Mechanism (CBAM) transition period will begin on October 1, 2023, and from 2026 this program is expected to become permanent.According to the mechanism, businesses have to report the amount of greenhouse gases in their imported goods, if this ...
Translated by Hong Son
Forest carbon credits and people's expectations
Government Decree No. 107/2022/ND-CP, issued on December 28, 2022, on pilot transfer of emission reduction results and financial management of agreement on payment of GHG emission reduction in the North Central region, is the first decree to help create a process for the exchange, transfer, ...
