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Vietnam's green shift: embracing carbon credits

Vietnamese businesses are being urged to embrace green technologies and generate carbon credits to enhance their competitiveness and innovation. This push towards sustainability comes as Vietnam prepares to enter the global carbon credit market.

Vietnams green shift_ embracing carbon credits_Agricultural landscape of Vietnam_visual 1Agricultural landscape of Vietnam. AI generated picture.

Dr Nam Nguyen, a UN greenhouse gas inventories review expert and general director of KLINOVA Climate Innovation Consulting and Services JSC, noted the increasing interest of Vietnamese enterprises in this burgeoning market. However, the lack of specific greenhouse gas emission quotas creates uncertainty for businesses, leaving them unclear on whether they need to buy or can sell carbon credits.

Read more: EU Commission urged to expand biodiversity credit market

Vietnam’s roadmap for carbon market development includes trialling a carbon credit exchange in 2025, with full integration planned for 2028. This will align Vietnam with regional and global markets. In the meantime, businesses are encouraged to proactively generate carbon credits in preparation for market entry.

The country is well-positioned to produce carbon credits, especially from its forests, agricultural, and energy sectors. However, businesses need to adopt sustainable practices, invest in clean technologies, and transition to green supply chains to tap into this potential.

Dr Nam emphasised that generating carbon credits is a long-term commitment, requiring at least three years to yield results. Businesses must register their projects with environmental authorities, conduct thorough greenhouse gas inventories, and receive emission quotas from the government.

Read more: 100 Reasons carbon credits are the best thing that ever happened to improve conditions on our planet

By taking these steps, Vietnamese businesses can better prepare for the upcoming carbon market, ensuring a more sustainable and competitive future.

DGB Group is committed to integrating local needs with global environmental priorities. The carbon credit market is sparking a global movement towards better health and greater environmental responsibility, and we are at the forefront of this movement. Our nature-based projects generate high-quality verified carbon units that help organisations meet their net-zero goals while restoring nature. We invite you to join us on this remarkable journey, as we continue to ignite change, one carbon unit at a time.

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