Vietnam Could Earn $1.9 Billion Annually from International Carbon Credit Sales
As the urgency of addressing climate change intensifies, the carbon credit market has emerged as a pivotal solution for nations to meet their greenhouse gas emission reduction commitments.
Positioned as a developing country rich in forest resources and renewable energy potential, Vietnam is poised to generate substantial revenue from international carbon credit transactions.
According to research by a technical support group for the Department of Climate Change (Ministry of Agriculture and Environment), Vietnam could earn approximately $1.9 billion annually by selling carbon credits on the international market. This estimate is based on a high-price scenario of $47 per credit.
A carbon credit certifies the right to emit one ton of CO2 or an equivalent amount of greenhouse gases into the atmosphere. Simply put, one carbon credit equals the right to emit one ton of CO2. Photo: Collected
Under lower-price scenarios of $20.5 per credit (low) and $33.8 per credit (medium), Vietnam’s revenue from carbon credit sales would be $600 million and $1.2 billion annually, respectively.
This information was presented on September 23, 2025, at the “Assessment of the Impact of the Greenhouse Gas Emission Trading System and Carbon Credits in Vietnam” Workshop, organized by the Department of Climate Change in collaboration with the Southeast Asia Energy Transition Partnership (ETP).
Carbon credits not only offer the potential for valuable foreign currency earnings but are also expected to contribute approximately 0.3% to GDP growth, supporting green transitions and the goal of achieving net-zero emissions by 2050.
According to the World Bank’s annual report, the global carbon market is thriving, with the number of greenhouse gas emission trading systems and carbon credit markets (ETS) increasing from 25 to 37 between 2020 and 2025, covering 23% of global greenhouse gas emissions. Revenue from this market grew from $25 billion in 2020 to $69.1 billion in 2024.
Vietnam’s Carbon Credit Potential
Experts highlight that Vietnam’s potential to earn billions annually stems from its ability to generate and sell carbon credits through emission reduction projects, particularly in forest conservation, sustainable agriculture, and renewable energy (wind, solar, etc.).
With its vast forest cover and a low-emission agriculture sector, Vietnam possesses a massive “goldmine” for carbon credit exploitation.
Vietnam’s forest area currently stands at 14.79 million hectares, with a forest cover rate exceeding 42%. The Forestry Department estimates that this forest area could supply approximately 40 million carbon credits annually, significantly reducing greenhouse gas emissions and generating substantial revenue from international transactions.
In addition to its abundant forest resources, Vietnam has significant carbon credit potential in agriculture, including rice cultivation and long-term industrial crops such as rubber, cashews, coffee, and coconuts. According to the Environment and Life E-Magazine, Vietnam’s agricultural sector could provide around 57 million carbon credits annually.
With its extensive forest cover and a low-emission agriculture sector, Vietnam possesses a massive “goldmine” for carbon credit exploitation.
To facilitate carbon credit trading, the establishment of a carbon credit exchange platform will provide a centralized marketplace for organizations and individuals to buy, sell, and trade carbon credits, helping businesses comply with environmental regulations while generating revenue from green projects.
The Ministry of Industry and Trade announced that by 2028, Vietnam will officially launch a voluntary carbon credit exchange, enabling companies to purchase credits to achieve net-zero emissions.
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