It is expected that in the first phase, greenhouse gas emission quotas will be allocated to 150 facilities with large emissions in 3 fields: Thermal power, iron and steel production, and cement production, accounting for about 40% of total national greenhouse gas emissions...
The proposed roadmap is provided in the draft Decree amending and supplementing several articles of Decree No. 06/2022/ND-CP of the Government regulating the reduction of greenhouse gas emissions and protection of the ozone layer.
On March 24, 2025, Deputy Prime Minister Tran Hong Ha chaired a meeting to listen to reports and give opinions on this draft Decree. The draft Decree was developed to detail the provisions of the Law on Environmental Protection, following the implementation of international agreements on climate change.
THREE SECTORS WITH THE LARGEST EMISSIONS
The provisions in the draft Decree aim to strengthen the work of greenhouse gas inventory, appraisal of inventory results, and greenhouse gas emission reduction; promote decentralization, delegation of authority, and cut and simplify administrative procedures, reduce compliance costs for enterprises in appraisal of inventory results, emission reduction, and organization of emission quota allocation.
Sector management ministries propose annual quota allocations for each facility under their management. The Ministry of Agriculture and Environment synthesizes and submits to the Prime Minister for consideration and approval of total greenhouse gas emission quotas by phase and year, then organizes the allocation of emission quotas to facilities.
The content of the amendment and completion of regulations on the carbon market aims to adjust and update regulations clearly defining the subjects of emission quota exchange and carbon credit exchange; supplementing the content on the National Registration System for emission quotas and carbon credits to serve management work; detailing the activities of exchanging emission quotas and carbon credits on the trading floor; detailing the implementation of the domestic carbon credit exchange and offset mechanism.
In which, the ministries managing the field approve the recognition of processes and technical standards for creating carbon credits, registering projects, changing project participants, canceling project registration, and granting carbon credits to projects within the scope of management.
The draft Decree has added a number of new administrative procedures for the appraisal of greenhouse gas inventory results for establishments allocated emission quotas by the sector management ministry; implementing the domestic carbon credit exchange and offset mechanism. Administrative procedures have been simplified in the direction of reducing the number of subjects required to carry out carbon credit confirmation and reducing administrative procedures for emission quota confirmation.
The draft Decree details the roadmap for allocating greenhouse gas emission quotas in three phases: 2025-2026, 2027-2028, 2029-2030. In the first phase, the allocation will be for establishments with large emissions in three sectors: Thermal power, iron and steel production, and cement production. It is expected that 150 establishments will be allocated quotas in the first phase, accounting for about 40% of the country's total greenhouse gas emissions.
STRENGTHENING EMISSION REDUCTION ABSORPTION MEASURES TO MAKE GOODS COMPETITIVE IN THE MARKET
At the meeting, representatives of the Ministry of Industry and Trade, the Ministry of Construction, and the Ministry of Finance proposed that regulations, criteria, methodologies, and criteria for selecting organizations and independent consultants to conduct greenhouse gas emissions inventories and evaluate results related to greenhouse gas emissions to ensure objectivity, fairness, and transparency;
Along with that, develop a set of criteria when allocating emission quotas to each sector, locality, and enterprise; the interconnectivity of regulations on quotas and carbon credits with international ones; the quality of quotas and carbon credits traded on the market...
Speaking on this content, Deputy Prime Minister Tran Hong Ha commented that the draft Decree has gradually updated the international situation, practices, and existing experiences; demonstrated Vietnam's commitment to international agreements on reducing greenhouse gas emissions; and received attention from domestic enterprises as well as trade partners and international organizations.
However, this is a technical decree with many fluctuations, so the Ministry of Agriculture and Environment must thoroughly understand the specialized legal system and international agreements and, at the same time, provide guidelines and principles for a controlled framework with a "sandbox" mindset to continue updating technical issues that may still fluctuate.
In addition, this is a new field, requiring new administrative procedures to perform state management functions, but they must be as simple and streamlined as possible. The Decree, on the one hand, implements the general policy of gradually investing in technology, management and strengthening absorption measures to reduce emissions; on the other hand, it is to enable Vietnamese goods to compete in the world market.
“Therefore, regulations on standards, methods and policies must be compatible with international practices, while closely following the standards of each market, each business and production sector, each type of enterprise, "not horizontally, but flexibly and diversely according to each market, from the highest, strictest to the most open standards", the Deputy Prime Minister noted.
The Decree must decentralize and assign ministries and branches to develop and promulgate technical regulations and standards related to quotas and carbon credits; conditions for the formation and operating mechanisms of organizations and independent consultants to measure, compile statistics, appraise, recognize, report... data related to greenhouse gas emissions and carbon credits with mutual recognition and recognition by international organizations and partners.
The Deputy Prime Minister also gave his opinion on regulations on managing carbon credit commodities in the carbon market; decentralizing emission quota management to specialized ministries; applying technology, implementing digital management and operations in all activities related to emissions and carbon credits;...
Decision No. 13/2024/QD-TTg promulgating the list of sectors and facilities emitting greenhouse gases that must conduct greenhouse gas inventories (updated) includes 2,166 facilities, of which 1,805 are in the industry and trade sector; 75 are in the transport sector; 229 are in the construction sector and 57 are in the natural resources and environment sector. 6 sectors must conduct greenhouse gas inventories, including energy, transport; construction; industrial processes, agriculture, forestry and land use, and waste.
According to Decree No. 06/2022/ND-CP of the Government regulating the reduction of greenhouse gas emissions and protection of the ozone layer, March 31, 2025 is the deadline for enterprises (subject to greenhouse gas inventory at the facility) to submit greenhouse gas inventory reports to the Provincial People's Committee for appraisal.
According to Decision No. 232/QD-TTg approving the Project on Establishment and Development of Carbon Market in Vietnam, with a roadmap to June 2025, gradually build and complete the legal framework for the exchange of greenhouse gas emission quotas, carbon credits and credit exchange and offset mechanisms, ensuring the legal basis for the pilot implementation of carbon trading floors; building infrastructure to serve the organization and operation of the market...
From June 2025 to the end of 2028, a domestic carbon trading platform will be piloted; the legal document system will continue to be completed to serve the organization and operation of the carbon market.
From 2029, the domestic carbon trading floor will officially operate. The sectors and facilities allocated greenhouse gas emission quotas will be studied and considered for expansion according to the roadmap.
(VnEconomy.vn)
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