Mr. Hoang Anh Dung, CEO of Intraco Company, shared this information during a training session titled “Enhancing Media Communication Capabilities on Carbon Neutrality” held in Nghe An province. The event was organized by the Agriculture and Environment Newspaper in collaboration with TH Group from October 15 to 16.
Mr. Hoang Anh Dung, CEO of Intraco Company
In an additional statement to Nguoi Lao Dong Newspaper, Mr. Hoang Anh Dung revealed that numerous companies are seeking projects in the Southeast Asian region.
Vietnam’s voluntary carbon credit market is currently at a moderate to low level compared to global standards. While carbon credit prices in Vietnam remain low, the number of projects and issued credits is relatively high.
“Vietnam is among the top 4 countries with the highest number of voluntary carbon credit projects globally, boasting over 300 registered projects,” Mr. Dung shared.
Notably, several Vietnamese enterprises have successfully sold carbon credits to major international organizations such as the World Economic Forum (WEF) at approximately $10 per credit and the FIFA World Cup at around $5 per credit.
Speakers and guests attending the panel discussion
According to Mr. Dung, the carbon credits sold to the World Economic Forum were generated from projects providing clean water to impoverished households in the Mekong Delta. These projects utilized water filtration systems to reduce energy consumption by eliminating the need to boil water. Meanwhile, the carbon credits sold to FIFA were derived from a solar power project operated by a Vietnamese company.
Early Pilot of Carbon Market: New Opportunities for Carbon Credits in Vietnam
International organizations purchase carbon credits voluntarily to fulfill their carbon neutrality commitments. Project selection is based on regional criteria and specific standards set by each organization.
According to Mr. Nguyen Tuan Quang, Deputy Director of the Department of Climate Change under the Ministry of Agriculture and Environment, the policy and legal framework related to carbon neutrality has been comprehensively and timely issued. This foundation supports the implementation of climate change commitments.
Notably, Mr. Quang announced that a pilot carbon market will be launched this year.
However, to achieve the Net Zero target by 2050, Vietnam must continue implementing several key solutions.
These include refining mechanisms and policies to promote low-carbon production models and circular economies, while effectively applying carbon pricing tools such as carbon taxes, carbon credits, and emissions trading platforms.
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