On May 23, 2024, at the Ministry of Planing and Investment, Deputy Minister Tran Duy Dong welcomed Mr. Vincent Choo Wing Sung – Director of Invetment Promotion of CT Group and Mrs. Hum Wei Mei – Global Director in Environmental Products of ACX (AirCarbon Exchange)
During the working session, a member of CT Group – Carbon Credit Trading Platform ASEAN Joint Stock Company (CCTPA) and ACX committed to assist Vietnam in promoting sustainable solutions and climate change mitigation by leveraging their expertise, resources, and sharing their experiences. In addition, helping Vietnam establish a robust carbon credit market will not only bring benefits to businesses but also make a significant contribution to Vietnam’s environmental goals and its commitment to achieving net zero emissions by 2050.
“Vietnam’s potential to attract foreign direct investment (FDI) is immense, as is the establishment of a carbon credit trading platform,” shared Ms. Hum Wei Mei.
Deputy Minister Tran Duy Dong highly appreciated the insights shared by CT Group and ACX, and stated that the establishment of a carbon credit market is one of Vietnam’s key focus areas in the coming period to effectively implement the National Green Growth Strategy and maximize the utilization of resources for greenhouse gas emission reduction activities.
The Deputy Minister emphasized that greenhouse gas emission reduction commitments are a priority for the Vietnamese government, as Vietnam always identifies climate change as a major challenge requiring a global approach. This is also an opportunity for Vietnam to transition to an appropriate development model in the future.
Carbon credits market is relative new in Vietnam and there are much potential to develop, bring ing about benefits for community. However, the legal framework is still limit. Therefore, Depute Minister propose CCTPA and ACX continue to share their international experience to assist Vietnam in piloting the carbon market from 2025 and officially operating it from 2028.
