Vietnam officially launched its domestic carbon exchange on June 29, marking the country's first formal carbon pricing mechanism and turning emission allowances and verified emission reductions into tradable economic assets.
Speaking at the launch ceremony, Nguyen Anh Phong, chairman of the Hanoi Stock Exchange (HNX), said the exchange was the result of coordinated preparations carried out under the direction of the government and the Ministry of Finance as part of Vietnam's carbon market development strategy.
Over the past several years, HNX has worked closely with the State Securities Commission, the Department of Climate Change (DCC), the Vietnam Exchange (VNX), the Vietnam Securities Depository and Clearing Corporation (VSDC), BIDV Bank and other relevant organisations to establish the legal framework, operational procedures and technology infrastructure needed for registration, trading and settlement in the carbon market.
Phong said the information technology system linking HNX, VSDC, DCC and the settlement bank had been successfully tested, ensuring stable and seamless operations. HNX will continue working with relevant authorities to operate the market safely, efficiently and transparently while promoting greater awareness to encourage businesses and organisations to participate.
HNX said the launch of the carbon exchange represented more than a technical milestone. It also strengthens the link between environmental responsibility and commercial interests by allowing companies to optimise the cost of reducing emissions through trading emission allowances and carbon credits, supporting sustainable development and Vietnam's net zero emissions commitment.
Phong expressed confidence that the carbon market would become an important tool in advancing Vietnam's green growth agenda, promoting a low carbon economy and supporting sustainable development.
Speaking at the event, Vu Thi Chan Phuong, chairwoman of the State Securities Commission, said the launch of the domestic carbon exchange marked a significant step in modernising Vietnam's market economy institutions while opening a new chapter for the country's financial market through greener, more transparent and sustainable development.
"The official launch of the carbon exchange today is not only a major milestone in completing Vietnam's green economic framework, but also demonstrates the government's determination to build a transparent and efficient market that helps businesses adapt to the new requirements of international economic integration," Phuong said.
To ensure the market operates safely, transparently and sustainably, Phuong urged market operators to maintain secure and uninterrupted trading, registration, depository and settlement systems while continuing to improve operational procedures to make participation easier for market members and businesses.
She also called for stronger market supervision and strict enforcement against market manipulation, fraud and other activities that could undermine market integrity.
In addition, she urged authorities to strengthen public communication, provide reliable information to businesses, study international experience, improve the capacity of intermediary institutions and continue refining policies to ensure the carbon market develops in line with international integration.
Representing the market operators, Luong Hai Sinh, chairman of the Members' Council of the Vietnam Exchange (VNX), pledged to fully implement the assigned responsibilities, including operating secure, stable and uninterrupted trading, registration, depository and settlement systems for greenhouse gas emission allowances and carbon credits.
Sinh said all market activities would be conducted openly, transparently and in accordance with the law, helping the domestic carbon exchange expand in support of Vietnam's transition to a green economy and its long term sustainable development goals.
