Vietnam to Launch Carbon Emissions Trading Pilot Next Week

Vietnam will launch a pilot carbon emissions trading program next week, with 92 local companies set to participate in emissions allowance trading, including Hoa Phat Group, Formosa Ha Tinh Steel, and Vietnam Electricity. According to Jin10, a statement posted on the website of the Climate Change Department under Vietnam’s Ministry of Agriculture and Environment said the total greenhouse gas emissions allowances allocated for the 2025–2026 period amount to about 511.47 million tons of carbon dioxide equivalent. Vietnam previously said the allowance trading scheme will cover coal-fired power plants, steel companies, and cement producers. The statement said carbon allowances will be open for trading in Vietnam’s domestic carbon market starting June 29, and trading will continue until December 24, 2027. Companies in high-emissions industries will be eligible to participate. Vietnam plans to formally launch its carbon trading platform in 2029. The market will be operated by the Hanoi Stock Exchange and will allow trading of both emissions allowances and carbon credits. Companies will be able to use carbon credits to offset up to 30% of their allocated emissions allowances.