Vietnam is moving toward a pilot carbon market, with 110 companies already selected for emission allowance allocations. This transition shifts carbon reduction from a voluntary goal to a business necessity, requiring firms to manage carbon credits as tradable assets and navigate new tax regulations. Industry leaders are focusing on technical implementation, including carbon capture and storage in depleted oil fields and compliance with the EU's Carbon Border Adjustment Mechanism (CBAM). The focus is now on establishing clear ownership rights for credits and building internal carbon management capacity.
