Experts emphasized that companies need to implement tactics and plans to boost their competitiveness and develop new technologies for environmentally friendly and sustainable production, which would provide carbon credits.
Vietnamese firms are becoming more interested in the global carbon credit market, according to Dr. Nam Nguyen, general director of KLINOVA Climate Innovation Consulting and Services JSC and a specialist in UN greenhouse gas inventories reviews. But businesses in Vietnam confront confusion because there are no particular greenhouse gas emission restrictions for them to follow, and it’s unclear whether they have to purchase or sell carbon credits. It might be brought up here. A carbon credit exchange will be tested in Vietnam starting in 2025, with full operation anticipated in 2028, and it will integrate with regional and international markets.
Businesses are advised to proactively create carbon credits in order to get ready for market entry while they wait for the legislative framework to be completed.
Vietnam is acknowledged for its capacity to produce carbon credits, especially from the energy, agricultural, and forestry sectors. But in order to do this, companies must adopt sustainable practices, make investments in clean technologies, and switch to environmentally friendly supply chains.
In addition to businesses being required to register their projects with environmental authorities, conduct accurate and transparent greenhouse gas inventories, and receive emission quotas allocation from government agencies, Dr. Nam cautioned that achieving results in carbon credit generation takes time and determination, with at least a three-year timeline.
