Businesses to improve capacity for carbon credit market

06:30 | 16/10/2023 Environment Follow Ven.vn on

(VEN) - To prepare for a carbon trade exchange, the Ministry of Natural Resources and Environment (MoNRE) and partners are ready to provide training for relevant parties participating in the market based on a virtual transaction market model. To learn more about this issue, the Newspaper of Industry and Trade’s Thu Huong talked with Dang Hong Hanh - Managing Director of Energy and Environment Consulting Joint Stock Company (VNEEC) - on the scheme “Training and simulation of Emission Trading System in Vietnam.”

Businesses to improve capacity for carbon credit market

Managing Director of Energy and Environment Consulting Joint Stock Company Dang Hong Hanh

From 2025, a carbon credit exchange pilot scheme will be established. How can businesses get used to the trading floor?

As you know, the Department of Climate Change under the MoNRE is implementing the scheme “Training and simulation of Emission Trading System (ETS) in Vietnam.”

The roadmap for implementing the carbon market is specified in Decree No.06/2022/ND-CP, dated January 2022 in order to help businesses achieve greenhouse gas emission reduction goals in a flexible way. However, the successful establishment and effective regulation of an ETS in Vietnam will require extensive capacity-building initiatives and activities aimed at increasing ETS literacy among relevant stakeholders, including policymakers in the country.

The main objective of this initiative is to develop and organize training courses on the ETS for stakeholders including policymakers, research institutes, universities, financial institutions, media representatives, and especially for the large-volume emitters that will be covered under Vietnam’s ETS in the future.

The training courses will utilize a carbon market simulation tool tailor-made for Vietnam.

So how will the ETS simulation tool operate and what is its effectiveness on businesses?

We offer an efficient carbon market simulation tool called CarbonSim. This tool is similar to a virtual carbon credit trading floor for traders to make investment decisions. In the virtual model, businesses learn about basic elements so that they will get used to the system when the carbon credit market officially operates.

The training courses will run between now and November 2024. Policy recommendations for the design and implementation of an ETS in Vietnam will be developed based on the analysis of the lessons learned from the ETS used for energy transition.

The scheme will be implemented by a consortium consisting of Energy and Environment Consultancy JSC, South Pole Carbon Asset Management, and Vietnam Technology Solutions JSC from July 2023 to January 2025.

Vietnam plans to set up and pilot a carbon trade exchange from 2025

Has this CarbonSim tool been used in the world market and what is its effectiveness?

The ETS is a very new concept to help businesses reduce CO2 emissions. Accordingly, the state sets targets to reduce greenhouse gas emissions while allowing businesses to exchange flexibly through market tools to reduce greenhouse gas emissions. However, this ETS system is a very new concept in Vietnam that requires a lot of training courses as well as increased awareness and knowledge for relevant parties including policy makers, financial institutions, businesses.

So far, the ETS system has been used only in over 30 countries around the world and Vietnam plans to set up and pilot a carbon trade exchange from 2025.

The training program will help participants have the most basic and general knowledge about the ETS, help businesses understand and make official decisions on the free carbon credit exchange platform so that they will be ready to participate in the piloted exchange in 2025 and then the official carbon trade exchange in 2028.

Thu Huong

See more news

Vietnamese, Belgian institutes sign MoU on climate change response cooperation

21:37 | 31/03/2025 Environment

This collaboration provides an opportunity for the two sides to jointly develop breakthrough solutions in four key areas, namely urban climate research, greenhouse gas emissions reduction, water resources management, and circular economy development.

Empowering businesses for successful green transition

16:45 | 29/03/2025 Environment

(VEN) - To overcome the challenges of transitioning to a green production model, businesses need support not only in terms of capital, but also in mechanisms and policies.

Earthquake triggers emergency in Thailand, sparks widespread tremors in regional countries

17:01 | 28/03/2025 Environment

A 30-story building under construction in Bangkok collapsed, trapping at least 43 workers.

Vietnam contributes solutions to reduce air pollution

16:37 | 27/03/2025 Environment

Key measures proposed included promoting clean energy transitions to reduce reliance on fossil fuels, developing sustainable transportation, cutting emissions from motor vehicles, managing industrial and household waste efficiently, and having stricter regulations on industrial emissions control.

Reducing environmental pollution from waste-to-energy plant

15:25 | 24/03/2025 Environment

(VEN) - Processing 5,000 tonnes of waste per day, the Soc Son Waste-to-Energy Plant significantly contributes to reducing environmental pollution, promoting a circular economy, and supplying clean electricity to the economy.

Duyen Hai Thermal Power Plant expands green production

15:10 | 24/03/2025 Environment

(VEN) - For years, Duyen Hai Thermal Power Company as a member of Power Generation Corporation 1 (EVNGENCO1) has always strictly complied with the legal regulations on environmental protection.

Launchpad for net zero goal

16:37 | 20/03/2025 Environment

In response to Vietnam’s commitment to achieving net-zero emissions by 2050, Nhan Dan (People’s) Newspaper has officially launched a column on the Net Zero Journey.

Major emitters proactively enhance greenhouse gas inventory capacity

17:12 | 18/03/2025 Environment

(VEN) - According to Decision No. 13/QĐ-TTg, 2,166 facilities across six sectors are required to conduct a greenhouse gas (GHG) inventory report for 2024 and submit it by March 31, 2025.

It is time to reduce emission in livestock farming

16:38 | 18/03/2025 Environment

The livestock industry is facing growing pressure to reduce emissions and transition towards more sustainable production methods.

Vietnam needs decisive action to achieve net zero goal

17:01 | 17/03/2025 Environment

Vietnam has taken strong steps in the fight against climate change. The commitment to achieve net zero emissions by 2050 has been concretised through an action programme and various strategies, plans and projects. However, compared to the actual needs and developments, Vietnam requires even more decisive actions.

Latest Most Read

ASEAN economic ministers push for upgrades to ATIGA

16:34 | 09/05/2025 Cooperation

The second special ASEAN Economic Ministers’ (AEM) meeting on the upgrade of the ASEAN Trade in Goods Agreement (ATIGA) concluded successfully, laying a solid foundation for the next rounds of negotiations.

Historical significance of International Workers’ Day

09:22 | 28/04/2025 Society

(VEN) - Every year, workers around the world celebrate the International Workers’ Day on May 1 - a great festival of the working class and working people around the world. This is not only a holiday, but also a moment to look back upon the journey of struggle, dedication and growth of the labor force - the backbone of every economy.

Imexpharm sets breakthrough growth goals at 2025 shareholders meeting

10:00 | 27/04/2025 Vietnamese Brands

At the 2025 Annual General Meeting of Shareholders (AGM), Imexpharm approved its 2025 growth plan, targeting total revenue of VND2,981 billion and profit before tax of VND 493.5 billion - representing year-on-year increases of 18.6% and 22.1%, respectively.

Streamlining State apparatus to expand development space

13:31 | 26/04/2025 Society

(VEN) - After the reorganization of its administrative structure, Vietnam is expected to reduce the number of provincial-level administrative units by 50 percent and commune-level units by 60-70 percent, making the state management apparatus leaner, stronger and more efficient, and expanding new development space for localities.

Vietnam-Laos relations vital to revolutionary cause in each country: State leader

10:05 | 26/04/2025 Cooperation

The relationship between Vietnam and Laos is an invaluable asset and crucial to the revolutionary cause of both countries, State President Luong Cuong affirmed while meeting former high-ranking leaders of Laos in Vientiane on April 25 as part of his two-day state visit to Laos.

ASEAN urged to remain united, calm, resilient in cooperation with US

21:39 | 10/04/2025 Cooperation

Vietnam supports ASEAN’s comprehensive, flexible, and practical approach to enhancing economic resilience and promoting supply chain diversification through the effective utilisation of free trade agreements (FTAs), he affirmed.

Ample room remains for Spain-Vietnam trade, investment collaboration: Spanish PM

21:57 | 10/04/2025 Cooperation

Vietnam is a dynamic and rapidly developing economy, with a growth rate exceeding 7% in 2024, a figure that not many countries could achieve amidst numerous fluctuations and challenges. Spain wishes to become an active partner in Vietnam's goal of modernisation and becoming a high-income developed nation by 2050.

Binh Dinh ramps up fight against IUU fishing

22:01 | 10/04/2025 Society

The provincial border posts and checkpoints are requested to strictly inspect 100% of vessels entering and exiting stations, prohibiting those without the necessary qualifications from departing.

Vietnam pushes ahead with reforms to lure more FDI

22:14 | 10/04/2025 Economy

In order to draw more FDI, experts underlined the need for Vietnam to take comprehensive measures, including stronger reforms in all fields.

Vietnam Oil and Gas Group renamed Vietnam National Industry - Energy Group

22:18 | 10/04/2025 Vietnamese Brands

With this new name, Petrovietnam reaffirms that it is no longer solely a traditional oil and gas enterprise. It now positions itself as a national hub for industrial development, service innovation, and energy security, and is committed to sustainable development, technological modernisation, and ensuring energy stability for the nation.

Multimedia

Video Longform Infographic Photo

Proposed names for 34 provincial-level administrative units after mergers

16:42 | 16/04/2025 Infographic

On behalf of the Party Central Committee, on 12 April 2025, Party General Secretary To Lam signed and issued Resolution No. 60-NQ/TW of the 11th plenum of the 13th Party Central Committee. The Central Committee agreed on a policy to restructure provincial-level administrative units across the country, reducing the total to 34 units, comprising 28 provinces and 6 centrally governed cities.

Vietnam-China Comprehensive Strategic Cooperative Partnership

15:55 | 14/04/2025 Infographic

General Secretary of the Communist Party of China Central Committee and President of China Xi Jinping is paying a State visit to Vietnam from April 14-15. This marks his fourth State visit to Vietnam as General Secretary and President of China, and his second visit within the same term. The visit coincides with the 75th anniversary of diplomatic relations between the two countries. It aims to strengthen the Vietnam-China Comprehensive Strategic Cooperative Partnership and elevate bilateral ties to a new height.

Vietnam's economy thrives in Q1 2025

16:45 | 12/04/2025 Infographic

In the first quarter of 2025, Vietnam’s economy showed signs of recovery, with several key indicators recording strong growth despite ongoing global uncertainties.

Infographic: Gold prices fluctuate following US retaliatory tariff announcement

21:45 | 04/04/2025 Infographic

On April 4, global gold prices fluctuated significantly, trading at 3,085 USD per ounce after US President Donald Trump announced new retaliatory tariffs on goods from different countries. In the domestic market, SJC gold bars and rings both saw a decline, trading at 101.3 million VND and 101.2 million VND per tael respectively.

Seven key missions of the National Data Association

20:07 | 30/03/2025 Infographic

The National Data Association has made its official debut and successfully held the 1st National Congress (2025-2030 term)in Hanoi recently.

Policy

14th National Party Congress’s draft documents more revolutionary, action-oriented, highly feasible: PM

16:31 | 16/04/2025 Policy

In the political repor, along with adding the learned lessons and forecasting the context and situation, it highlights the following viewpoints: ensuring development for stability, and stability for rapid and sustainable development of the country; promoting the comprehensive building and improvement of institutional frameworks for fast and sustainable development; addressing bottlenecks and obstacles in a timely and decisive manner; and unlocking all resources and mobilising all drivers of growth.

Party chief requires no disruptions to operations throughout restructuring process

16:12 | 14/04/2025 Policy

Party General Secretary To Lam noted that priority will be given to finalising guiding documents, amending the 2013 Constitution, and improving legal institutions and regulations to establish a robust legal framework for effective organisational apparatus streamlining.

District-level local governments to cease operations from July 1: draft law

16:53 | 13/04/2025 Policy

Vietnam's local government model will be restructured from a three-tier system to a two-tier one, with the district level eliminated.

Australian scholar praises Vietnam’s remarkable 50-year transformation

16:28 | 12/04/2025 Policy

Vietnam must always be able to evaluate its own strengths and weaknesses while pursuing a long-term strategic vision. The country can learn from other countries, but it must always pursue its national interests. This requires unity among the population, political stability, constant adaptability and critical innovation.

Industry & Trade

Hanoi to develop 254-million-USD industrial cluster

21:13 | 19/04/2025 Industry

Until 2030, Hanoi looks to have 159 industrial clusters covering a total area of 3,204 ha, expand five clusters established between 2017 and 2020 with a total area of about 45 ha, and build 21 new ones covering about 536 ha.

Vietnam sets ambitious targets in revised national power development plan

18:56 | 17/04/2025 Industry

The Vietnamese government has officially revised the eighth national power development plan, setting bold targets for electricity production and renewable energy adoption through 2050.

Prime Minister urges COMAC to support Vietnam in developing aviation industry

17:12 | 14/04/2025 Industry

The PM said that the Party and State of Vietnam always encourage major enterprises, representing high levels of science and technology of China, to participate in new investment projects and expand investments in the fields of road, railway and aviation infrastructure in Vietnam.

Steel industry seeks solutions amid tariff "shock"

17:12 | 13/04/2025 Industry

In the midst of the United States’ tariff “storm”, Vietnamese steel has been excluded because it has been already subjected to a 25% tariff since 2018. Nevertheless, over-optimism is ill-advised, as other countries facing barriers to the US market may redirect their low-priced steel to Asia and Vietnam, creating significant pressure on domestic steel.

Investment

Ho Chi Minh City’s FDI rebound attracts high-tech giants

21:23 | 19/04/2025 Investment

Foreign direct investment (FDI) in Ho Chi Minh City has recently rebounded after a period of stagnation, with several major high-tech companies unveiling plans to invest in the southern hub, driven by the city's improved investment climate.

Korean firms encouraged to invest more in Vietnam’s energy sector

16:31 | 15/04/2025 Investment

The NA Vice Chairwoman praised KEPCO’s ongoing contributions to Vietnam’s energy landscape and encouraged the company to continue its role as a major investor, supporting the country’s technological advancement and energy development.

Public investment aimed to drive Vietnam’s economic growth

10:48 | 15/04/2025 Investment

(VEN) - Vietnam’s public investment disbursement in Q1/2025 showed positive signs, yet achieving the 95-percent disbursement target for the year remains a challenge.

Hue calls for investment in the Chan May – Lang Co Economic Zone

23:36 | 11/04/2025 Investment

The central city of Hue is calling for investment in many key projects within the Chan May – Lang Co Economic Zone for the period of 2025–2026, aiming to give a facelift to its important southern economic region.

Finance-Banking

Remittances to HCM City reach over 2.41 billion USD in first quarter

08:21 | 20/04/2025 Finance-Banking

Remittances to Ho Chi Minh City maintained a positive growth rate in the first three months of 2025, reaching over 2.41 billion USD, accounted for 25.3% of the total for the entire year 2024 and marking an increase of 19.6% compared to the previous quarter.

National committee meets to accelerate ODA, concessional loan disbursement

14:43 | 15/04/2025 Finance-Banking

Deputy Prime Minister Bui Thanh Son has underscored the need to improve processes, streamline procedures, and capitalise on financial resources to support national development.

Vietnam accelerates rollout of 500 trillion VND credit package for infrastructure and technology firms

15:36 | 12/04/2025 Finance-Banking

The State Bank of Vietnam (SBV) held a meeting in Hanoi on April 10 to implement the Government’s directive on lending to businesses investing in infrastructure and digital technology.

Hong Kong paves way for Vietnam–China finance link

19:25 | 10/04/2025 Finance-Banking

Hong Kong (China) is stepping up its role as a vital financial conduit between Vietnam and China, leveraging its global financial hub status to deepen cross-border cooperation, said Robert Lee, a financial expert and Legislative Council member of Hong Kong.

Environment

Vietnam's carbon market: Prudent approach to avoid costly outcomes

08:53 | 18/04/2025 Environment

Moc Chau Milk centers on green development and growth

16:06 | 17/04/2025 Environment

Extra efforts requested to address forest fire consequences in Quang Ninh

16:56 | 16/04/2025 Environment

From the night of April 12 to the morning of April 13, two forest fires occurred in Ha Long city's Dai Yen ward, and Binh Lieu district's Binh Lieu town, damaging over 40 hectares of forests.

Hanoi to host major green growth summit this month

16:44 | 11/04/2025 Environment

Science - Technology

PM applauds youth entrepreneurship at National Startup Day for Students

21:40 | 20/04/2025 Science - Technology

Since its inception seven years ago, Project 1665 has achieved significant milestones. All universities, academies, colleges, vocational schools, and 63 provincial/municipal Departments of Education and Training now have actionable plans to support student entrepreneurship.

Nuclear energy development to facilitate green transition: Conference

22:10 | 18/04/2025 Science - Technology

Deputy Prime Minister Nguyen Chi Dung emphasised that developing atomic energy, including nuclear power, is essential to achieving double-digit economic growth and supporting Vietnam’s green and digital transitions.

HCM City seeks stronger hi-tech cooperation with US, Japan, RoK

16:47 | 15/04/2025 Science - Technology

At the meeting, Director of HCMC C4IR Le Truong Duy shared the city’s vision to establish a world-class public-private technology exchange platform. This hub will serve as a gateway for cutting-edge technologies from the US, Japan, and the Republic of Korea to enter Vietnam, enabling collaborative innovation and creating valuable tech products for the global market.

Da Nang, RoK to train next generation of Vietnamese software experts

13:24 | 11/04/2025 Science - Technology

The collaboration between Vietnam – Korea University of Information and Communication Technology (VKU) and the Korea SMEs and Startups Agency (KOSME) leverages the robust infrastructure and networks of both sides to advance software talent development in Vietnam.

Society

Historical significance of International Workers’ Day

09:22 | 28/04/2025 Society

Streamlining State apparatus to expand development space

13:31 | 26/04/2025 Society

Vietnam steadily marches into new era of growth

16:35 | 21/04/2025 Society

(VEN) - Half a century has passed since the historic moment of April 30, 1975, when Vietnam was reunified. The nation, united in joy, is steadily marching into a new era of growth with national aspiration.

Workers proactively enhance productivity in new era

15:32 | 21/04/2025 Society

(VEN) - In the context of a rapidly transforming economy driven by the 4th Industrial Revolution, improving labor productivity is not only an urgent requirement for every business, but also a personal responsibility for each worker.

Vietnamese Brands

Imexpharm sets breakthrough growth goals at 2025 shareholders meeting

10:00 | 27/04/2025 Vietnamese Brands

Petrovietnam: New milestone - New vision for sustainable development

16:21 | 21/04/2025 Vietnamese Brands

(VEN) - With a strong determination to “innovate from the core” for sustainable development in the future, Petrovietnam has officially adopted its new designation as the Vietnam National Industry - Energy Group.

Vietnam Oil and Gas Group renamed Vietnam National Industry - Energy Group

22:18 | 10/04/2025 Vietnamese Brands

Vietnamese enterprises float products at world's largest startup fair in India

21:59 | 05/04/2025 Vietnamese Brands

Startup Mahakumbh 2025 is expected to help Vietnamese firms learn startup and digital transformation initatives from India and other countries, access innovation experiences of leading global enterprises, and introduce their startup products to the world.

Culture

Vietnamese cultural values introduced to international friends in Mexico

20:55 | 30/03/2025 Culture

Diverse and distinctive cultural values of Vietnam are promoted at the "Vietnam Culture Day" event held from March 29-30 in Mexico City, attracting representatives from diplomatic corps and local authorities, international friends, and local residents.

Hung Kings’ Festival 2025: a grand celebration of culture and heritage

15:21 | 30/03/2025 Culture

According to the organising committee, these two major events will feature various unique activities that embody the heroic spirit of the Hung Kings era while maintaining a connection to contemporary society.

Vietnam works to seek UNESCO status for Binh Dinh martial arts

18:00 | 29/03/2025 Culture

Deputy Prime Minister Mai Van Chinh has approved the submission of a proposal to the UNESCO for the inclusion of "Binh Dinh Traditional Martial Arts" in the Representative List of the Intangible Cultural Heritage of Humanity.

Nghe An to host ASEAN exhibition this May

16:47 | 24/03/2025 Culture

The beauty of ASEAN’s people and landscapes will be on show from May 10 to May 20 at an exhibition held in Nghe An province.

Tourism

Digitization key to tourism breakthroughs

09:15 | 24/04/2025 Tourism

(VEN) - The increasing competitive pressure is forcing businesses in the tourism industry to innovate their business models and enhance service quality to keep up with current trends, focusing on key criteria, such as safety, personalized experiences, and technological convenience.

Highland products, soul of Son La’s community-based tourism

09:34 | 17/04/2025 Tourism

(VEN) - Son La Province – a majestic land in the Northwestern highlands of Vietnam – captivates visitors not only with its pristine natural beauty, but also with its distinctive local specialties. However, amid the flourishing wave of community-based tourism, there are still gaps in integrating highland products as essential parts of the tourist journey.

Vietnam’s scenic landscapes attract Hollywood filmmakers

15:15 | 30/03/2025 Tourism

With its breathtaking landscapes, filmmaker-friendly policies, and a clear strategy for industry growth, Vietnam is poised to become a major hub for film tourism.

Positioning unique tourism products to enhance attractiveness of Vietnamese cities

17:56 | 29/03/2025 Tourism

The meeting provided a valuable opportunity for Vietnamese members to share experience and best practices in tourism management while enhancing collaboration with international counterparts. By hosting this prestigious event, Hanoi reaffirmed its proactive role in driving connectivity and sustainable tourism growth.

Businesses to improve capacity for carbon credit market

See also

See more news

Multimedia