MOF drafts regulation for carbon credit market, MARD aims to sell credits abroad
Under a plan of the Ministry of Finance (MOF), Vietnam would not sell carbon credits abroad in the first phase of the carbon credit market. The draft plan says the domestic carbon credit market would run on a trial basis in 2025-2028, during which carbon credits would not be sold abroad and there would be no regulations on connecting and exchanging carbon credits with regional and international markets. All quotas would be allocated for free, not through auctions. The quota allocation would be applied to certain fields which have high emissions.
The Ministry of Agriculture and Rural Development (MARD), while basically agreeing with the plan, has proposed adding exceptions. Vietnam would not sell and exchange carbon credits in 2025-2028, except for some cases of exchanging and transferring carbon credits according to international treaties and international agreements at the Government level to ensure national emission reduction targets and commitments to the NDC (nationally determined contributions).
Tam An
