Vietnam PM Demands Stronger Carbon Credit Management

Vietnamese Prime Minister Pham Minh Chinh has issued a directive to request relevant authorities to bolster carbon credit supervision and management to effectively implement Nationally Determined Contributions (NDCs), local media reported.

Accordingly, ministries were tasked with collaborating to promptly establish a national carbon credit registry system and assessing the potential for emission reduction as well as carbon absorption from forests, providing a foundation for international forest carbon credit exchange efforts.

The prime minister’s directive highlighted that fostering carbon markets, along with trading and offsetting carbon credits, presents a crucial avenue for achieving emission reduction goals at reasonable costs, contributing to the preservation and expansion of forests and increasing the incomes of participants in emission reduction projects. (VietnamNews, VietnamNet)