Vietnam has finalized the legal foundation for its domestic carbon market, introducing specific decrees to regulate the exchange of emission quotas and carbon credits. The system targets 110 of the largest emitters across the thermal power, steel, and cement sectors. A pilot phase will run from 2026 to 2028 to test infrastructure and oversight tools. The framework includes mechanisms for both domestic trading and international credit exchanges under the Paris Agreement to attract climate finance and support the country's 2050 net-zero goal.
