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ARTICLE · 13 FEBRUARY 2025

Vietnam To Establish And Develop Carbon Market

Tilleke & Gibbins
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Tilleke & Gibbins

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On January 24, 2025, the prime minister of Vietnam issued Decision No. 232/QD-TTg, approving the proposal for establishment and development of a carbon market in Vietnam.

VietnamEnergy and Natural Resources
Giang Thi Lan Nguyen
Giang Thi Lan Nguyen
Tram Ngoc Bich Nguyen
Tram Ngoc Bich Nguyen
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On January 24, 2025, the prime minister of Vietnam issued Decision No. 232/QD-TTg, approving the proposal for establishment and development of a carbon market in Vietnam. The decision establishes a compliance mechanism for greenhouse gas (GHG) emitters and creates opportunities for investors interested in carbon trading in Vietnam.

Market Development Roadmap

Decision 232 establishes a phased approach to developing Vietnam's carbon market, with the following ambitious milestones:

  • Before June 2025 (preparation period): The legal framework for trading of emissions quotas and carbon credits and a carbon-credit offset exchange mechanism will be developed, along with the necessary infrastructure for organization and operation of the carbon-credit market.

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