International experience in developing the Vietnam carbon market

Abstract

Developing carbon markets is an inevitable trend in the effort to reduce greenhouse gas emissions and promote a global green economy. Through research and synthesis of experiences from countries such as the EU, China, Korea, New Zealand, and Switzerland, it is shown that the coordination between a solid legislation framework, modern technical infrastructure, and effective market stabilization mechanisms is the key to promoting the success of carbon markets. With its strong commitment to responding to climate change and great potential, Vietnam can learn from previous countries' successes in developing a carbon market suitable to its conditions. By applying solutions suitable to practical conditions and taking advantage of opportunities from the global market, Vietnam will not only achieve its greenhouse gas emission reduction goals but also promote sustainable economic development. Proactive and flexible application of carbon market management policies and instruments will play a key role in achieving a successful carbon market with positive impacts on the global environment.