Suggested mechanisms for successful carbon market
Identifying effective mechanisms for successfully introducing a carbon market requires clear regulations, financial incentives, and international collaboration.
According to Professor Nguyen The Chinh, Vice President of the Vietnam Association for Environmental Economics (VIASEE), the successful implementation of a carbon market is a complex task that involves not only policy frameworks but also effective execution.
It’s also essential to thoroughly assess who will be responsible for each task and how it will be carried out, along with the necessary inspections and oversight to ensure compliance with legal documents and processes. These three aspects must function smoothly to ensure the success of the carbon market. Moreover, achieving societal consensus and ensuring market transparency are crucial, as without these the market may fail.
Song Hà
