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.
Managed by the 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.
Two types of products will be traded on the market: emission quotas and carbon credits. The market opened yesterday with a total 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 the trading fees currently exempted during this stage.
Of the 110 facilities allocated quotas, 92 enterprises have completed the required onboarding steps and are now eligible to trade. The remaining facilities are finalizing registry profiles and user accounts to complete the onboarding process.
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, with a total transaction value of VND161.7 million ($6,150), according to market data.
SIPA supported MAE with GHG emissions inventory analytics, which served as an important technical basis for 2025 – 2026 quota allocation. Moving forward, the project will continue to provide capacity-building support to help participating facilities manage their GHG emissions and quotas more effectively and engage in the national emerging carbon trading system.
