On the afternoon of June 26, the ASEAN Carbon Credit Trading Platform Joint Stock Company (CCTPA), in collaboration with several partners, organized a seminar titled “Vietnam’s Carbon Credit Market – Pioneering a Creative and Sustainable Approach.
A Representative of the Organizing Committee Shares Information at the Seminar
At the seminar, a representative of the organizing committee stated that Vietnam is currently facing a golden opportunity to develop its carbon market. Specifically, this includes the Government’s commitment to achieving Net Zero by 2050, the roadmap for piloting a carbon credit trading platform, and international pressure to implement the Carbon Border Adjustment Mechanism (CBAM)…
Meanwhile, Vietnam is also considered to have great potential for generating carbon credits across various sectors such as forestry, agriculture, and transportation. For example: The “16 Million Trees” project by the Vietnam Association of the Elderly could generate 150,000–250,000 credits per year; The Can Gio mangrove forest (Ho Chi Minh City) could generate around 1–5 million credits annually; 86,780 hectares of rubber plantations could yield approximately 800,000–1.5 million credits per year; 105,000 hectares of sustainably cultivated coffee could generate 105,000–525,000 credits annually. In addition, large-scale wind and solar power projects may produce 2.7 million credits per year, and a project to convert 400,000 motorbikes to electric in Ho Chi Minh City could potentially generate over 400,000 credits annually…
All carbon credit-generating projects within the territory of Vietnam must be registered and reported through the national registry system for greenhouse gas emission quotas and carbon credits.
The Department of Climate Change will continue to accompany, guide, and provide support in terms of legal, technical, and professional aspects to help initiatives and projects soon be put into practical operation, making meaningful contributions to the national greenhouse gas emission reduction targets and the development of a low-carbon economy.
Seminar Overview
At the event, CCTPA also signed strategic cooperation agreements with the following partners:
- Global Carbon Council (GCC): This partnership positions GCC as CCTPA’s strategic partner in the evaluation and verification of carbon credits, ensuring the quality and transparency of transactions on the CCTPA platform.
- Tan Thuan Industrial Promotion Company Ltd. (IPC Tan Thuan): IPC Tan Thuan will work with CCTPA to pioneer rooftop solar power projects and the development of sustainable green industrial zones.
- Ho Chi Minh City Institute for Development Studies (HIDS): HIDS will be a key partner with CCTPA in an ambitious project to convert 400,000 gasoline-powered motorbikes into electric ones. In parallel, the two parties will jointly implement a pilot carbon credit project in Ho Chi Minh City, laying the foundation for significant progress in the voluntary carbon market.
- Vietnam Association of the Elderly: CCTPA is proud to support the meaningful project “16 Million Trees for Vietnam.” This is not only a large-scale reforestation initiative tied to sustainable livelihood development but also an opportunity to mobilize the strength and experience of the elderly and spread a green message across society.
- Bach Khoa Solar Energy Investment and Development JSC: This collaboration will promote the application of clean energy while generating high-quality carbon credits, contributing to overall emission reduction goals.
- Green In Vietnam Innovation JSC: Green In will play an important role in expanding the market in Northern Vietnam, distributing the ESG Sustain.Life management platform, and implementing emission reduction and green energy projects in the region.
