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 Credit Trading Platform JSC (CCTPA), said a majority of Vietnamese firms are not ready for the mechanism because carbon credit trading is new in Vietnam and has not been put on their agenda. CCTPA aims to become the largest platform in the ASEAN region on the horizon.
There are broadly two types of carbon markets, the regulatory market and the voluntary market. The former is government-regulated whereas the latter operates on a voluntary basis.
