Representatives from enterprises and business associations will attend a training course on February 29 and March 1 in Hanoi on an emissions trading system (ETS) and carbon market.

A similar course is being held on February 26 and 27 for representatives from relevant ministries and agencies on the establishment and operations of a carbon credit trading floor and a carbon market in Vietnam.

The courses are part of the initial capacity-building effort in Vietnam, with the participation of both the public and private sectors, and organized at an important time when Vietnam is committed to reducing green gas emissions under the Paris Agreement.

Leading international experts will share insights into global carbon pricing, preparations for operating a carbon market, and the principles of and measurement, reporting, and verification (MRV) requirements within the emission trading system.

Vietnam has issued 40.2 million carbon credits for 150 projects and has conducted exchanges on the global market. It is also one of four countries with the highest number of credit projects registered under the clean development mechanism, according to Deputy Director Mai Kim Lien of the Department of Climate Change.

The country’s 2020 environmental protection law stipulates the organization and development of a domestic carbon market, while the government has issued a roadmap for implementing the market, with an important goal of piloting a carbon credit trading floor starting in 2025.

A recent survey by the Energy and Environment Consultancy JSC showed that only 32 per cent of 537 surveyed enterprises have conducted greenhouse gas inventories, 57.38 per cent have prepared to build plans on reducing greenhouse gas emissions, and 28 per cent have already developed greenhouse gas emissions plans.

The training is organized under an MoU signed between the Department of Climate Change and the United Nations Office for Project Services (UNOPS), which aims to establish cooperative relations between parties within the framework of the Southeast Asia Energy Transition Partnership (ETP) managed by UNOPS.