From December 9 to 13, 2024, in Hanoi and Ho Chi Minh City, two intensive training courses on the Emissions Trading System (ETS) and the carbon market were successfully organized. These courses are part of a training series on ETS and the carbon market organized under the framework of the Technical Assistance (TA) program “Emission Trading System (ETS) training and simulation in Vietnam” supported by the Southeast Asia Energy Transition Partnership (ETP) in collaboration with the Department of Climate Change (DCC) under the Ministry of Natural Resources and Environment (MONRE).
The main objective of this TA program is to develop and organize training courses on ETS and the carbon market, utilizing ETS simulation tools tailored to Vietnam’s context. The courses target various stakeholders, including policymakers, research institutions, universities, financial organizations, media representatives, and, most notably, big emitters that will be required to participate in Vietnam’s future ETS.
(Photo: Training course in Ha Noi)
(Photo: Training course in HCMC)
Four training courses were successfully organized in March and May 2024. These sessions targeted participants from ministries, government agencies, media, and private sector stakeholders involved in the establishment and management of Vietnam’s carbon trading platform and carbon market, including big emitters expected to participate in Vietnam’s ETS in the future. To continue this success and address the growing demand for ETS and carbon market training, the recent courses focused on big emitters in three key sectors: steel, cement, and thermal power. These sectors hold significant potential for greenhouse gas (GHG) emission reductions and are anticipated to join Vietnam’s ETS in the near future. Each training course lasted two days, providing participants with a foundation in ETS and the carbon market. Additionally, participants had the opportunity to practice using CarbonSim, a state-of-the-art carbon market simulation tool customized to Vietnam’s context. This tool enables learners to understand the practical and effective operation of ETS and the carbon market.
(Photo: Mr. Nguyen Tuan Quang, Deputy of Department of Climate Change)
In his opening remarks, Mr. Nguyen Tuan Quang, Deputy of Department of Climate Change, emphasized that reducing GHG emissions and developing the carbon market are inevitable trends in the global context. He stated: “The carbon market in Vietnam will contribute to achieving GHG emission reduction targets at a low cost, promoting low-emission technologies, and enhancing the competitiveness of enterprises.”
(Photo: Mr. John Robert Cotton, Senior Programme Manager of ETP)
In his opening remarks, Mr. John Robert Cotton, Senior Programme Manager of ETP, expressed his appreciation for the efforts of the DCC, MONRRE, and all participating stakeholders. He emphasized the critical role of the ETS in carbon pricing and driving sustainable development. He commended Vietnam’s robust legal framework, particularly the Law of Environmental Protection 2020 and Decree 06/2022/ND-CP, as a foundation for the carbon market. Mr. Cotton expressed confidence that these training courses on ETS and the carbon market would prepare stakeholders to face the challenges and seize the opportunities when the carbon market officially begins operation in 2028. He also extended his gratitude to the partners who contributed to bringing this initiative to fruition. The lectures in this training program were developed and delivered by leading international experts in climate change mitigation and carbon pricing. With a highly interactive teaching approach, participants were not only equipped with essential knowledge but also had the opportunity to practice, engage in discussions, and share their experiences.
(Photo: Ms. Dang Hong Hanh, Team Leader, Climate Change Policy Expert, Co-Founder, Managing Director of Energy and Environment Consulting Joint Stock Company (VNEEC))
Ms. Dang Hong Hanh, Team Leader and Climate Change Policy Expert, Managing Director of the Energy and Environmental Consultancy Joint Stock Company (VNEEC), shared that this training series comes at a crucial time as Vietnam is strongly committed to fulfilling its GHG emission reduction obligations under the Paris Agreement. She stated: “We believe that these training courses not only raise awareness but also help enterprises prepare to actively participate in the domestic carbon market.”
(Photo: Overview of the Training courses)
The participants highly appreciated the quality of the training program. Many remarked that the courses provided valuable knowledge and practical experiences. Positive feedback from participants included comments such as, “The course was truly excellent and opened up many new insights,” and “The simulation activities were very practical and closely aligned with reality.”
Additionally, participants praised the professionalism in organization and the interactive teaching methods. Some emphasized that the training helped them gain a deeper understanding of how the ETS operates, enabling them to apply this knowledge to their companies’ internal strategies.
Many participants also expressed satisfaction with the opportunity to engage directly with international experts and peers from various fields. This interaction allowed them to expand their professional networks and exchange valuable experiences. Participants affirmed that the training served as a crucial stepping stone, preparing them to tackle climate change challenges and actively participate in the domestic carbon market in the future.
(Photo: Participants share their feedback on the Training courses)
This serves as a crucial preparatory step as Vietnam moves towards piloting a carbon credit trading platform in 2025 and officially launching the carbon market in 2028. VNEEC’s training series not only contributes to raising awareness and enhancing the capacity of stakeholders but also lays a solid foundation for building a compliant carbon market in Vietnam.
With this success, VNEEC continues to assert its pioneering role in advancing initiatives to address climate change challenges, particularly in supporting participation in the domestic ETS and carbon market in the near future.
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