Việt Nam launches domestic carbon exchange to advance net-zero goal

Việt Nam launches domestic carbon exchange to advance net-zero goal

Việt Nam officially launched its domestic carbon exchange at the Hanoi Stock Exchange (HNX) on Monday, marking a major milestone in the country's efforts to establish a carbon market and accelerate its transition to a low-carbon economy.

The launch ceremony for the domestic carbon exchange at the Hanoi Stock Exchange (HNX) on Monday. — VNA/VNS Photo

Việt Nam officially launched its domestic carbon exchange at the Hanoi Stock Exchange (HNX) on Monday, marking a major milestone in the country's efforts to establish a carbon market and accelerate its transition to a low-carbon economy.

The exchange is expected to provide a market-based mechanism for reducing greenhouse gas emissions, encouraging green investment and helping Việt Nam fulfil its commitment to achieving net-zero emissions by 2050.

The launch is part of the Government's roadmap for developing a national carbon market under Decision 232/QĐ-TTg and follows the regulatory framework established by Decree 06/2022/NĐ-CP on greenhouse gas emissions reduction and ozone layer protection.

Speaking at the inauguration ceremony, HNX Chairman Nguyễn Anh Phong said the exchange was the result of close coordination among the Vietnam Exchange, the State Securities Commission, the Department of Climate Change, the Vietnam Securities Depository and Clearing Corporation (VSDC), the Bank for Investment and Development of Vietnam (BIDV), and other relevant agencies.

He said the legal framework, operational regulations, and registration, trading and settlement systems had been fully developed, while the technology infrastructure linking HNX, VSDC, the Department of Climate Change and BIDV had been successfully tested and was ready for operation.

The market will initially have six qualified securities firms as trading members and more than 100 major emitters eligible to receive emissions allowances.

"The launch of the carbon exchange is not merely a technical milestone," Phong said. "It establishes a mechanism that links environmental responsibility with business interests, enabling companies to optimise the cost of emissions reduction through the trading of emissions allowances and carbon credits while encouraging technological innovation and sustainable growth."

He added that HNX would continue working with relevant agencies to ensure the market operates safely, efficiently and transparently, while encouraging more businesses and organisations to participate.

State Securities Commission Chairwoman Vũ Thị Chân Phương described the launch as a significant step in strengthening Việt Nam's modern market economy and expanding the country's green financial ecosystem.

As climate change presents growing challenges worldwide, green growth, the circular economy and sustainable development have become global priorities, she said.

"The carbon exchange creates a transparent and fair platform for trading greenhouse gas emissions allowances and carbon credits," she said. "It also serves as an economic tool to encourage businesses to improve production efficiency, adopt cleaner technologies and reduce emissions."

She noted that the exchange would also support the development of green finance by creating a new channel for mobilising capital for sustainable projects, while aligning Việt Nam's financial and environmental markets more closely with international practices.

According to Phương, legal regulations, technology infrastructure, operational procedures and inter-agency coordination mechanisms have now been largely completed following extensive preparations by the Ministry of Finance, the Ministry of Agriculture and Environment and other stakeholders.

To encourage participation during the pilot phase through the end of 2028, the Government has issued Decree 29/2026/NĐ-CP, exempting businesses from transaction fees on the domestic carbon exchange.

She said the policy demonstrates the Government's commitment to supporting businesses by lowering participation costs and encouraging greater investment in emission reduction, technological innovation and sustainable development.

Phương also called on market operators to ensure the smooth and secure operation of the trading platform, strengthen market surveillance, prevent manipulation and fraud, and continue raising awareness among businesses while drawing on international experience to further improve the market framework.

Representing the market operators, Vietnam Exchange Chairman Lương Hải Sinh pledged to ensure the exchange operates safely, securely and transparently in accordance with the law.

He said operators would continue working closely with the Ministry of Agriculture and Environment and other authorities to refine operational procedures, strengthen market oversight, improve intermediary capacity and promptly address challenges arising during implementation.

"The launch marks an important milestone for both Việt Nam's financial market and its carbon market," Sinh said. "However, this is only the beginning."

He said market operators would continue coordinating with regulators and the business community to develop a transparent, efficient and sustainable carbon market that supports green growth, enhances national competitiveness and contributes to Việt Nam's net-zero commitment by 2050

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