Hanoi Stock Exchange to pilot carbon credit exchange in 2025
The Hanoi Stock Exchange (HNX) and the Vietnam Securities Depository (VSD) have been tasked with building and running a carbon credit exchange platform in line with standards set by the Ministry of Natural Resources and Environment.
Deputy Prime Minister Tran Hong Ha mentioned this at a Thursday meeting that reviewed a draft plan for developing the carbon credit market in Vietnam.
Deputy Prime Minister Tran Hong Ha chairs a meeting on carbon credit market in Hanoi , August 22, 2024. Photo courtesy of the government's news portal.
The carbon credit market is seen as a key financing tool for Vietnam to boost green transition, reduce emissions, develop low-carbon industries, adapt to climate change, and fulfill its goal of net-zero emissions by 2050.
According to the draft plan, the carbon credit market will be piloted domestically in 2025-2028, without any sales to foreigners or connections with the international market. The carbon credits will be distributed without any fees and any bidding.
From 2029, the market will be deployed officially in Vietnam, and preparations will begin for linking up with international markets. A majority of carbon credits will be distributed without any fees and the remaining via a bidding process. The transactions will be conducted via online platforms built by the HNX and VSD.
Deputy PM Ha asked the Ministry of Finance, the Ministry of Natural Resources and Environment, the Ministry of Planning and Investment, and relevant agencies to build up a draft plan with technical details for smooth operation of the platform.
According to the Ministry of Agriculture and Rural Development, Vietnam's agricultural sector can churn out 57 million carbon credits annually, equivalent to 57 million tons of carbon dioxide.
In recent years, Vietnam has earned about $60 million from selling carbon credits. A notable deal was selling 10.3 million forest carbon credits via the World Bank in 2023, earning $51.5 million.
- Related News
- Read More
Vietnam's Big 4 lender Vietcombank to issue nearly 2.8 bln shares for dividend payment
Vietcombank will expand its chartered capital from VND55,891 billion to VND83,557 billion ($3.29 billion) via an issuance of shares to pay dividends, becoming the largest bank in Vietnam by chartered capital.
Banking - Thu, January 16, 2025 | 7:58 pm GMT+7
Indonesia exports $1.5 million worth of steel to New Zealand
Indonesian Trade Minister Budi Santoso on Wednesday sent off export consignments of welded beam steel, measuring 1,200 metric tons and valued at $1.5 million, to New Zealand, reported national news agency Antara.
Southeast Asia - Thu, January 16, 2025 | 7:17 pm GMT+7
Vietnam to build Ninh Thuan nuclear power plant within 5 years
Vietnam strives to complete building its Ninh Thuan nuclear power plant in five years (by 2030), towards the 100th anniversary of the Communist Party of Vietnam (1930-2030).
Energy - Thu, January 16, 2025 | 5:06 pm GMT+7
Malaysia, UK discuss elevating relations to strategic partnership
Malaysian Prime Minister Datuk Seri Anwar Ibrahim and his UK counterpart Keir Starmer discussed the elevation of bilateral relations to a strategic partnership during their talk in London on Wednesday.
Southeast Asia - Thu, January 16, 2025 | 3:30 pm GMT+7
Thailand’s Central Retail opens $11 mln GO! hypermarket in central Vietnam
Thailand’s leading retailer Central Retail opened a hypermarket per its GO! model in Vietnam’s south-central province of Ninh Thuan on Wednesday.
Industries - Thu, January 16, 2025 | 3:29 pm GMT+7
Investment Support Fund: A Strategic leap for Vietnam's economic future
The Vietnamese Government's Decree No. 182/2024/ND-CP, which outlines the establishment, management and use of the Investment Support Fund, represents not just policy instruments for attracting investment but also foundations for advancing strategic sectors and elevating the country's position in the global economy, writes Tran Anh Son, tax & legal director, Global Innovation and Investment Incentives (Gi3), Deloitte Vietnam.
Economy - Thu, January 16, 2025 | 2:55 pm GMT+7
Vietnam PM orders appraisal of tax policies to curb property speculation
The Ministry of Finance needs to study tax policies to curb property speculation in line with Vietnam’s socio-economic conditions and international practices, Prime Minister Pham Minh Chinh has requested.
Real Estate - Thu, January 16, 2025 | 2:40 pm GMT+7
Vietnam’s budget carrier VietJet can pilot China's Comac aircraft on some routes: Deputy PM
China’s state-owned aerospace manufacturer Comac and Vietnam’s budget airline VietJet should collaborate with a Chinese airline having Comac aircraft to pilot Comac aircraft on some of VietJet routes, says Vietnamese Deputy Prime Minister Tran Hong Ha.
Companies - Thu, January 16, 2025 | 12:26 pm GMT+7
Offshore wind power investors can sell entire projects in Vietnam: draft decree
A draft decree on offshore wind power being compiled by Vietnam’s Ministry of Industry and Trade will facilitate investors to sell their projects or stakes.
Energy - Thu, January 16, 2025 | 11:27 am GMT+7
Build your own sales channels if e-commerce competition too harsh: NextTech exec
If e-commerce competition is too harsh, Vietnamese businesses should develop their own sales channels and customer databases, says Nguyen Hoa Binh, founder and chairman of NextTech Group, a leading technology startup in Vietnam.
Economy - Thu, January 16, 2025 | 9:05 am GMT+7
Indonesia moves to secure domestic pharmaceutical independence
Indonesia's Health Ministry is working to achieve domestic pharmaceutical independence through research and development, production, and market guarantees.
Southeast Asia - Thu, January 16, 2025 | 8:09 am GMT+7
Malaysia cooperates with UAE in AI development, digital transformation
Malaysian Prime Minister Anwar Ibrahim has said that the country must embark on digital transformation within its economic and financial sectors, prioritizing areas such as blockchain and cryptocurrency to remain at the forefront of the digital age.
Southeast Asia - Wed, January 15, 2025 | 11:00 pm GMT+7
Thai billionaire seeks to increase stake in Vietnam dairy gaint Vinamilk
F&N Dairy Investments Pte. Ltd - an entity associated with Thai billionaire Charoen Sirivadhanabhakdi - has registered to purchase nearly 20.9 million shares of Vietnamese dairy giant Vinamilk (HoSE: VNM).
Companies - Wed, January 15, 2025 | 10:54 pm GMT+7
Vietnam PM leaves for official visits to Poland, Czech, WEF meeting
Prime Minister Pham Minh Chinh departed Hanoi on Wednesday afternoon for official visits to Poland and the Czech Republic, attendance at the 55th World Economic Forum (WEF) Annual Meeting in Davos, and bilateral meetings in Switzerland.
Politics - Wed, January 15, 2025 | 10:31 pm GMT+7
Malaysia’s manufacturing sector sees positive signs in 2025
Malaysia’s manufacturing sector is forecast to recover well in 2025 as global trade dynamics and geopolitical shifts influence market trends.
Southeast Asia - Wed, January 15, 2025 | 10:06 pm GMT+7
Thailand posts record investment last year
Thailand saw record investment figures for 2024, with applications exceeding THB1.13 trillion ($32.5 billion), the highest in the past decade, according to the country’s Board of Investment (BOI).
Southeast Asia - Wed, January 15, 2025 | 10:05 pm GMT+7
