Vietnam to Launch Carbon Exchange with HNX and VSDC Infrastructure
Vietnam's Ministry of Agriculture and Environment has issued Circular 11/2026/TT-BNNMT, establishing a carbon trading platform that integrates the Hanoi Stock Exchange (HNX) and the Vietnam Securities Depository and Clearing Corporation (VSDC). Scheduled to pilot in 2028, the platform aims to manage greenhouse gas emission allowances electronically, enhancing market efficiency and potentially reducing costs through existing financial infrastructure.
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Vietnam's carbon trading platform, governed by Circular 11/2026/TT-BNNMT, will connect HNX and VSDC to manage greenhouse gas emission allowances electronically. The platform, set to pilot in 2028, will assign unique codes to carbon credits, facilitating deposits and ownership transfers similar to securities trading.
Leveraging existing market infrastructure, the approach may reduce costs and expedite implementation. However, concerns about the quality of carbon credits and the need for a robust Measurement, Reporting and Verification (MRV) system remain critical as the market develops. Furthermore, the upcoming Carbon Border Adjustment Mechanism may pressure Vietnamese exporters to enhance emissions reporting and management.
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