Vietnam's domestic carbon exchange has been running since the end of June 2026, but it is still short on tradable goods. At a seminar on October 14, exchange and finance officials said no carbon credits have been listed yet. Initial trading is limited to emission quotas, and only about 100 businesses currently qualify to trade them. The bigger issue is price discovery. Vietnam Stock Exchange deputy director Dang Tai An Trang compared the carbon market to the bond market: firms need a clear price signal to decide whether investing in emission cuts is cheaper than buying allowances. Building that signal will require a reliable measurement, reporting, and verification (MRV) system, better information disclosure, and a wider pool of eligible credits, including those tied to Article 6.2 and 6.4 of the Paris Agreement. Officials also see green bonds as an easier first step than green stock labels, since bond proceeds can be tied directly to projects. For Vietnamese exporters facing CBAM costs in the EU, a working carbon price could eventually help them manage those expenses. But that depends on more commodities and participants entering the market.
