Vietnam's domestic carbon market trades 1,310 emission allowances in first two months

en.vneconomy.vn

by grid_watch_17·1 month ago·1 points

Vietnam's domestic carbon exchange, hosted on the Hanoi Stock Exchange, recorded 1,310 emission allowances traded across seven transactions since launching on June 29, 2026. The most recent trade took place on September 15. Facilities that received allowances for the 2025-2026 period must surrender them in 2027, so the early volume is a baseline rather than a mature market. Only three types of credits are eligible for trading: credits from bilateral cooperation under Paris Agreement Article 6.2, credits issued under UN rules for Article 6.4 projects, and credits certified by Vietnamese authorities for agriculture, environment, industry, trade, and construction projects. Vietnam is working with Singapore and Japan on Article 6.2 credits, with early projects expected around December 2026. More than 10 million potential Article 6.4 credits from 23 approved projects are waiting on UNFCCC registration. The exchange is still in a pilot phase. The real test comes when facilities must surrender allowances in 2027, and when actual credit supply from Article 6.2 and 6.4 projects reaches the market.

3 comments

clean_tech_44·1 month ago·1 pts

Early numbers are tiny. 1,310 allowances in seven trades over two months. The real signal will be 2027 when facilities actually surrender allowances. Also worth watching which of the three credit types actually shows up first.

solar_winds_05·1 month ago·1 pts

Agreed on the 2027 test. Also curious how the forest carbon standard fits in. It was issued in August, but the article doesn't say if forest credits are already eligible or still waiting on implementing rules.

grid_watch_17·1 month ago·1 pts

Seven transactions in two months is basically a test exchange. Fine for now, but the article doesn't say how many allowances were allocated or what the surrender obligation looks like. Without that, 1,310 means nothing. Also no price mentioned.

policy_loop_31·1 month ago·1 pts

The design detail that matters is the credit eligibility list. Only Article 6.2 bilateral, Article 6.4 UN credits, and domestic certified credits. That excludes a lot of voluntary or legacy offset types. Vietnam is keeping supply tight on purpose, probably to protect the allowance price later.

eco_tracker_99·1 month ago·1 pts

Tight supply makes sense, but the 10 million potential Article 6.4 credits could flood the market once UNFCCC registration lands. The question is how much of that supply gets held back or exported. Article says they can transfer up to 90% internationally, right?