BCG Eco, a subsidiary of the Bamboo Capital Group (HoSE: BCG), has entered into a partnership with Capital Quantum and Corects, two prominent companies from Singapore in carbon credits and climate finance. This collaboration aims to expand BCG Eco’s carbon credit initiatives, establish connections with international markets, and contribute to Bamboo Capital’s sustainability goals while promoting Vietnam’s transition to a green economy.

Building a carbon market to address climate change

With climate change becoming a growing global concern, the development of carbon markets has emerged as a key strategy for driving green transitions. Recognizing this, Bamboo Capital launched BCG Eco to focus on environmental protection, capitalize on the carbon credit market’s potential, and promote sustainable practices aligned with environmental, social, and governance (ESG) standards.

BCG Eco’s main activities include afforestation, forest management, and forestry seedling cultivation. The company also aims to provide independent consultancy services to help businesses navigate the carbon credit market while expanding its scope to other sustainability-focused projects.

To achieve these objectives, BCG Eco has prioritized project development and actively sought partnerships with leading international players. The recent agreements with Capital Quantum and Corects represent a significant step toward establishing comprehensive and structured carbon credit initiatives.

Developing a carbon credit ecosystem with global standards

The partnership between BCG Eco, Capital Quantum, and Corects aims to create a robust and sustainable carbon credit ecosystem. This will include a fully-integrated value chain, from carbon reduction projects to credit trading.

As part of the agreement, BCG Eco will leverage BCG’s expertise in renewable energy and environmental management. The company will focus on developing high-quality carbon credits for markets in Singapore and beyond, while also supporting the exploration of trading opportunities in Vietnam, Singapore, and Laos.

Capital Quantum brings extensive international experience in carbon credit platforms, particularly in Singapore, where it collaborates closely with the Global Carbon Council. This expertise will support BCG Eco in managing, monitoring, and reporting carbon credits, ensuring transparency and compliance with international standards.

Corects specializes in carbon credit consultancy and certification. By providing data-driven solutions, it will help BCG Eco meet global benchmarks and explore new markets. Corects also plays a key role in ensuring transparency and scalability for BCG Eco’s projects.

Strengthening Bamboo Capital’s sustainability strategy

This partnership reflects Bamboo Capital’s commitment to sustainable growth and aligns with its broader ESG objectives. Beyond commercial gains, the collaboration highlights the group’s dedication to environmental and economic progress in Vietnam.

As a signatory to the net-zero commitment at COP26, Vietnam aims to achieve carbon neutrality by 2050, and carbon credits are seen as a critical tool to help the country reach this target. The government’s efforts, including a planned official carbon trading platform by 2028, underscore the growing importance of this market.

By expanding its carbon credit initiatives, BCG Eco not only supports Vietnam’s green transformation but also positions itself as a key player in the rapidly-growing global carbon market.

Vietnam committed to achieving net-zero emissions by 2050 at COP26, marking a significant step in its climate change efforts. This goal has been formalized in the National Climate Change Strategy to 2050, as outlined in Decision No. 896/QD-TTg issued on July 26, 2022. The carbon credit market is seen as a practical tool to help meet this target.

Experts highlight that developing a carbon credit market offers both economic benefits and supports Vietnam’s transition from a “brown” to a “green” economy. This transformation not only strengthens the country’s international reputation but also attracts global investment. In 2024, Vietnam’s carbon credit market is expected to grow by 20 per cent, spurred by global agreements like the Paris Agreement and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

Vietnam is currently drafting a development of domestic carbon market scheme under Decree No. 06/2022/ND-CP, which regulates greenhouse gas emission reductions and ozone layer protection. By 2028, the country plans to launch an official carbon credit trading platform to connect domestic exchanges with regional and international markets.