Legal framework for the carbon market in Vietnam
Keywords:
Carbon credits, climate change, greenhouse gases, carbon market
Abstract
To enhance the effective resolution of climate change issues, the United Nations has identified the exchange of carbon credits as a primary method for greenhouse gas emission reduction. Through carbon markets, entities can offset their emissions by purchasing additional emission quotas or carbon credits. For a carbon market to function efficiently, Vietnam must develop a comprehensive, transparent legal framework aligned with international standards. This article analyzes three key components of the legal framework for the carbon market: (i) International legal regulations on carbon markets; (ii) Vietnamese legal regulations on carbon markets; and (iii) Recommendations to perfect the legal framework for the carbon market in Vietnam.
