Vietnam will launch a pilot carbon emission trading scheme next week.

Vietnam will launch a pilot carbon emissions trading program next week, with 92 local companies including Vinh Son Group, Formosa Ha Tinh Steel Corporation, and Vietnam Electricity Group participating in emissions quota trading. According to a statement on the website of the Climate Change Department under the Ministry of Agriculture and Environment of Vietnam, the total greenhouse gas emissions quota allocated for the period 2025-2026 is approximately 5.1147 billion tons of carbon dioxide equivalent. Vietnam previously stated that emissions quota trading will cover coal-fired power plants, steel companies, and cement producers. The statement said that carbon quotas will begin trading on the domestic carbon market in Vietnam on June 29, and trading will continue until December 24, 2027. High-emission industries will be eligible to participate in carbon quota trading. Vietnam plans to officially launch a carbon trading platform in 2029. The market will be operated by the Hanoi Stock Exchange, allowing trading of emissions quotas and carbon credits. Companies can use carbon credits to offset 30% of their allocated emissions quotas.