VNEEC accompanies a historic milestone: Launching Vietnam’s domestic carbon trading platform

Hanoi, June 29, 2026 – Vietnam’s domestic carbon trading platform was officially launched on June 29, 2026, recording its very first greenhouse gas emission allowance transaction at a price of VND 136,000 per allowance. This milestone marks a pivotal transition in the formation and development of Vietnam’s carbon market – moving from the preparation of policies, infrastructure, and market capacity into the pilot operational phase. It also stands as the ultimate testament to VNEEC’s enduring journey of dedication and relentless efforts.

Photo: Delegates attending the launch ceremony of the domestic carbon trading platform at HNX

Looking back to 2018, under the sponsorship of the World Bank within the framework of the Partnership for Market Readiness (PMR) program, VNEEC experts engaged in foundational research to address a core question: Whether Vietnam should prioritize establishing an Emission Trading System (ETS) or implementing a Carbon Tax as the optimal pricing instrument. Since the Government selected the ETS as the primary domestic carbon pricing tool and institutionalized it in the 2020 Law on Environmental Protection, VNEEC has continuously contributed its technical expertise through policy analysis, technical consultancy, and capacity-building support.

To date, VNEEC is honored to have provided technical assistance and capacity building to the Ministry of Agriculture and Environment (formerly the Ministry of Natural Resources and Environment) and the Ministry of Finance. Notably, through the coordination and funding of the Southeast Asia Energy Transition Partnership (ETP-UNOPS), VNEEC has participated in executing comprehensive technical assistance projects. These initiatives seamlessly integrated international best practices from world-class experts with the effective collaboration of dedicated domestic experts and colleagues. Key highlights include:

• ETS training and simulation in Vietnam (2023 – 2025): VNEEC designed and delivered a series of training programs for over 650 representatives from regulatory authorities, media agencies, and emitting enterprises. A major highlight was VNEEC’s customization of the CarbonSim system to fit Vietnam’s specific context, allowing participants to gain hands-on experience in carbon asset portfolio management and compliance strategies.
• Capacity building in assessing legal frameworks, infrastructure, and international experience to design Vietnam’s carbon credit trading platform – Phase 1 (2024): By evaluating national readiness and relevant infrastructure, the project proposed leveraging Vietnam’s existing securities infrastructure to operate the carbon trading platform rather than building a brand-new system from scratch. This approach significantly optimized setup time and costs.
• Impact assessment of the greenhouse gas emission trading system and carbon credits in Vietnam (2024 – 2025): This research provided the technical foundation for designing and operating the domestic carbon trading platform. It focused on three pillars: defining the scope of priority sectors for the ETS pilot phase based on emission intensity and trade exposure (initially targeting thermal power, iron and steel, and cement sectors); evaluating allowance allocation options tailored to Vietnam’s context; and quantifying the macro-economic and sector-level impacts of ETS management scenarios.
• Vietnam Carbon Trade Exchange: Pilot Preparation with the Ministry of Finance – Phase 2: Building upon the outcomes of Phase 1, this project supported the Ministry of Finance in conducting detailed research and designing the operational model for the carbon trading platform during its pilot phase. VNEEC provided advisory services on reviewing international experiences, analyzing the domestic context, and proposing an operational model utilizing existing stock market infrastructure. This included developing coordination mechanisms among the Hanoi Stock Exchange (HNX), the Vietnam Securities Depository and Clearing Corporation (VSDC), the national registry system authority, and relevant stakeholders. Additionally, VNEEC formulated recommendations on trading, market surveillance, information disclosure, depository, clearing, and settlement to ensure full readiness for the pilot operation of Vietnam’s carbon trading platform.

Photo: VNEEC representatives attend the launch ceremony of the domestic carbon trading platform at HNX

Prior to the platform’s operation, VNEEC was selected as the technical consultant to support and coordinate with the Vietnam Chamber of Commerce and Industry (VCCI) and the Department of Climate Change (Ministry of Agriculture and Environment) in conducting the survey on “Readiness of enterprises to participate in greenhouse gas emission quotas and carbon credits trading on the domestic platform”. This survey was rolled out across all 110 key emitting facilities included in the pilot quota allocation list for the 2025–2026 period (pursuant to Decision No. 699/QĐ-BNNMT dated February 27, 2026). The survey results revealed that enterprises anticipated the trading price range on the carbon market to be between USD 5 and USD 10 per ton of CO₂e.

On the market’s launch day, the initial transactions were matched at an opening price of approximately USD 5.1 per ton of CO₂e, with a total volume of 1,210 quotas, equivalent to 1,210 tons of CO₂e. This development indicates a cautious yet meaningful start for the domestic carbon market, echoing the early stages of major global markets such as South Korea in 2015 and China in 2021. The initial trading volume reflects a testing-the-waters mindset among pioneering enterprises navigating an entirely new mechanism. This demonstrates that the process of market formation and integration requires time for participants to familiarize themselves, adapt, and build capacity. Furthermore, this reality underscores the essential role of the training, advisory, and capacity-building programs that VNEEC continuously implements to better support the business community in preparing for their participation in the carbon market.

Photo: The official operation of the domestic carbon trading platform marks the commencement of trading activities within the framework of Vietnam’s pilot carbon market

Far beyond its role as a technical consultant to state agencies, on this inaugural trading day, VNEEC provided technical and advisory support to quota-allocated enterprises, guiding them in market assessment and trading decisions to successfully execute the platform’s very first transactions on HNX.

Looking ahead, VNEEC will continue to stand alongside regulatory authorities, enterprises, and development partners throughout the process of refining and operating the carbon market. VNEEC firmly believes that a transparent, efficient, and practical carbon market will serve as a vital instrument to drive emission reductions, mobilize resources for the green transition, and propel Vietnam closer to its Net-Zero emission target by 2050.

 246 views,  16