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Vietnam carbon market and green finance development
Overview
Vietnam is advancing its green finance landscape and establishing a carbon market to meet COP26 net-zero commitments. A pilot phase for the thermal power, steel, and cement industries involves the allocation of over 511 million tons of CO2 equivalent in emission quotas for the 2025–2026 period. Starting in late June 2026, 92 authorized organizations will trade VN2025 quotas on the domestic market.
To ensure compliance, facilities must submit audited greenhouse gas inventory reports to the Ministry of Natural Resources and Environment by December 1, 2027, and fulfill quota surrender obligations by December 31, 2027. Non-compliance may result in administrative penalties or deductions from future allocations. The framework allows flexibility, permitting companies to use carbon credits for offsets or borrow up to 15% of their current period's quota from the next period.
Complementing these efforts, the government has established a national green taxonomy via Decision No. 21/2025/QD-TTg, defining criteria for 45 project types across sectors such as energy, manufacturing, and biodiversity conservation. The pilot carbon market is scheduled to run through 2028, with full-scale mandatory operations expected in 2029.
The State Bank of Vietnam is promoting synergy between green credit and the carbon market. Deputy Governor Nguyen Ngoc Canh noted that an effective carbon market can transform emission reduction results into financial resources, helping businesses diversify funding and reduce reliance on bank loans. While green credit provides initial capital for technological innovation, the carbon market is expected to create economic incentives by assigning value to emission reductions.
Entities
Vietnam · Quang Tri · COP26 · State Bank of Vietnam · Ho Chi Minh City
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] Decision No. 21/2025/QD-TTg establishes a national green taxonomy effective August 22, 2025. thoibaotaichinhvietnam.vn
- [○ 1 SOURCE] The national green taxonomy includes 45 project types across 7 sectors. thoibaotaichinhvietnam.vn
- [○ 1 SOURCE] A domestic carbon trading floor is expected to operate officially in 2029. thoibaotaichinhvietnam.vn
- [○ 1 SOURCE] Quang Tri province implemented a ‘24-hour green lane’ for key investment projects. baochinhphu.vn
- [○ 1 SOURCE] Quang Tri's ‘60% green lane’ requires a minimum 60% reduction in administrative processing time. baochinhphu.vn
Timeline
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[BUSINESS] 4 sourcesVietnam establishes green finance frameworks and administrative reforms
Vietnam is implementing new green finance taxonomies, preparing for a 2029 carbon market launch, and introducing expedited administrative ‘green lanes’ in Quang Tri to boost investment.
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[BUSINESS] 11 sourcesVietnam State Bank promotes carbon market to boost green credit
Vietnam's Deputy Governor of the State Bank emphasized that integrating green credit with a developing carbon market will provide businesses with essential funding for their transition to net-zero emissions.
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[BUSINESS] 4 sourcesVietnam implements greenhouse gas emission quota trading
Ninety-two organizations in the power, steel, and cement sectors will begin trading greenhouse gas emission quotas on Vietnam's domestic carbon market starting in late June 2026.
Sources
baochinhphu.vn · baolaocai.vn · cafebiz.vn · doanhnghiephoinhap.vn · doanhnghieptiepthi.vn · kenh14.vn · mekongasean.vn · moitruong.net.vn · nhandan.vn · phunuvietnam.vn · soha.vn · thoibaonganhang.vn · thoibaotaichinhvietnam.vn · vtv.vn
This summary has been updated 2 times: see revision history