November 5, 2024 | 12:30 GMT +7
November 5, 2024 | 12:30 GMT +7
Hotline: 0913.378.918
The Department of Forestry (Ministry of Agriculture and Rural Development) said the world carbon credit market currently operates in Voluntary international and domestic carbon markets (mandatory).
Accordingly, the voluntary international carbon credit market aims to trade carbon credits to serve corporate social responsibility voluntarily, build public image, and create additional credit supply for the domestic carbon credit market.
Voluntary carbon credit markets are often based on bilateral or multilateral contracts and cooperation agreements between organizations, companies, or countries. Therefore, the market regulates the selling price of carbon credits (supply and demand).
Currently, there are nearly 30 countries and territories in the world that have issued carbon credit taxes, with tax rates ranging from US$ 1 to 137/ton of carbon.
In Vietnam, on January 7, 2022, the Government issued Decree 06/2022/ND-CP regulating greenhouse gas emissions mitigation and ozone layer protection. This Decree has specific regulations on the development roadmap and timing of implementing the domestic carbon credit market.
Regarding the agreement to transfer forest carbon credits in Vietnam, according to the Department of Forestry, Ministry of Agriculture and Rural Development, Vietnam does not have a mandatory market for carbon credits. Therefore, emission reduction results are transferred through bilateral negotiated agreements between relevant parties according to the voluntary market.
The Ministry of Agriculture and Rural Development has completed and submitted the registration application for credit granting according to TREES standards (also known as The REDD+ Environmental Excellence Standard). At the same time, we are urgently organizing technical negotiation sessions with the Emergent Organization to complete the negotiation project and report to the Prime Minister for consideration and decision.
The Ministry of Agriculture and Rural Development said that the orientation from 2028 will be to organize an official carbon credit exchange and regulate activities connecting and exchanging domestic carbon credits with regional and world carbon markets.
Translated by Tuan Huy
(VAN) ‘Vietnamese fruits have distinct tastes in every bite’ is a compliment Chinese consumers have for Vietnamese fruits.
(VAN) ENV Vietnam recently released the catalogue 'National Counter Wildlife Trafficking Priorities 2024' of 12 critical actions to safeguard wildlife.
(VAN) The carbon credit market is a trading system that allows organizations to trade, buy, sell, and transfer emissions reductions and CO2 credits.
(VAN) Ninh Thuan has built 11 disease-free facilities for shrimp seeds and parent shrimp, accounting for over 50% of the country's aquatic disease-free facilities.
(VAN) A bed of rock showing chunks of ripped up seafloor as debris from a tsunami that followed a huge meteorite impact on Earth dating back to about 3.26 billion years ago.
(VAN) Rice imports by the Philippines have surged this year, with Vietnamese rice once again comprising the majority of the country’s imported rice.
(VAN) To manage stray dogs and control the rabies situation, Con Dao has issued QR code tags to each family to wear on their pets.