Vietnam reported that only 10% of its 2,166 enterprises are ready to conduct greenhouse gas inventories, an expert said.
Mr. Nguyen Dinh Tho, director of the Institute of Strategy and Policy on Natural Resources and Environment under the Ministry of Natural Resources and Environment, shared the information at the Vietnam Export Promotion Forum 2024 held on December 4 in Hanoi.
Mr. Tho said that industries like steel, cement, and thermal power production have begun preparations, but many businesses remain unaware of their obligations. He added that Vietnam plans to pilot a carbon credit market by 2025 and establish a compliance market by 2029, starting carbon quota trading.
The official urged the businesses to produce carbon credits and seize opportunities in the 2029 market. He noted that enterprises entering the carbon credit market have four options, including investing in technology to create credits, trading quotas in auctions, participating in exchanges, or buying offset credits on over-the-counter markets.
In 2023, Vietnam earned $51.5 million by selling 10.3 million forest carbon credits through the World Bank at $5 per ton, which demonstrated the country’s potential in carbon credit trading as well as opportunities for enterprises to recover investments in energy and technology transitions. (Mekong ASEAN, VnEconomy, Doanh Nhan Tre Vietnam, Tap Chi Tai Chinh)
Post date: 2024-12-09