Viet Nam officially opened its domestic carbon market on 29 June 2026, marking a major milestone in the country’s transition from administrative emissions management to a market-based system.
The Lauch ceremony. Photo: GIZ
Managed by the Ministry of Environment and Agriculture (MAE) through the National Registry, where emission quotas and carbon credits are recorded, the market operates with the Hanoi Stock Exchange (HNX) as the trading platform and the Viet Nam Securities Depository and Clearing Corporation (VSDC) responsible for settlement.
One of the first transactions on the market. Photo: GIZ
The market opened on 29 June with a total market volume of more than 511 million tCO₂e, corresponding to the emission quotas allocated to 110 high-emitting facilities in thermal power, steel and cement sectors for the 2025-2026 period. These quotas can be traded until 24 December 2027, with trading fees currently exempted during this stage.
The pilot market began trading emission allowances under the code VN2025. During the opening session, allowance prices ranged from VND 130,000 to VND 136,000 per tCO2e – equivalent to $4.95 to $5.17 per tCO2e. On the first trading day, more than 1,200 tCO2e were traded.
