The International Scientific Conference on the Carbon Credit Market in Sustainable Development in Vietnam

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(TVU) – On March 28, the first international scientific conference on carbon credits in Vietnam takes place at Tra Vinh University, jointly organized by Tra Vinh University, the Foreign Trade University, and the Vietnam Forum on Climate Change and Sustainable Development (VSF-CCSD). The event is held in both online and offline formats, attracting a large number of scientists and experts from within and outside the country.

The conference is attended by Mr. Hang Sok Kim, CEO of KCCTS, Dreamshared Social Coop, MangLub Social Enterprise Vietnam; Mr. Pham Nam Hung, Senior Expert of the Climate Change Department, Ministry of Natural Resources and Environment of Vietnam; Dr. Doan Van Cong, Founder & Executive Leader of VSF CCSD and UniTo, Italy; Assoc. Prof. Dr. Diep Thanh Tung, Vice President of Tra Vinh University; scientists from Vietnam, Germany, Italy, the Philippines, and other countries, as well as representatives from institutes and universities such as the Foreign Trade University, Nong Lam University (Hue University), Tra Vinh University, who participate in person and online.

The International Scientific Conference on the Carbon Credit Market in sustainable development in Vietnam

The international scientific conference on the carbon credit market in sustainable development in Vietnam takes place in the context where the carbon credit market in Vietnam is still in its infancy. At the same time, the rapid development of the carbon credit market in other countries poses significant challenges for Vietnam in competing in the global carbon credit market.

Associate Professor Dr. Diep Thanh Tung, Vice President of Tra Vinh University, delivers a speech at the Conference

In his opening remarks, Assoc. Prof. Dr. Diep Thanh Tung, Vice President of Tra Vinh University, states: “Although we come from different regions around the world… we share a common concern about climate change. The world’s demand for carbon credits has been increasing in recent years, driving the formation and strong development of the market. In Vietnam, developing the carbon credit market helps seize opportunities to implement carbon emission reduction commitments. However, to operate this market effectively, many issues arise from perfecting the legal framework, technical standards, and promoting communication efforts.”

“How will Vietnam and Vietnamese enterprises take advantage of opportunities from the carbon finance market in the context where the Vietnamese Government is strongly committed to reducing emissions towards Net Zero Carbon by 2050, and the world is implementing this? We look forward to discussions and effective measures to achieve carbon credits and promote sustainable development with the goal of Net Zero Carbon,” the Vice President of Tra Vinh University adds.

The conference provides a comprehensive picture of the symbiotic relationship between renewable energy initiatives and the developing carbon market in Vietnam until 2030, with a vision towards 2050, focusing on the national journey towards sustainable development by carefully considering national and international policies, including the Kyoto Protocol, the Protocol and the Paris Agreement, and studying the necessary institutional framework to effectively participate in the carbon market.

Mr. Pham Nam Hung, Senior Expert of the Climate Change Department, Ministry of Natural Resources and Environment of Vietnam, shares his insights at the Conference

16 different topics presented at the conference revolving around research analysis and the announcement of carbon emission reduction measures, emphasizing Vietnam’s potential to produce carbon credits and providing initiatives and active participation in the voluntary carbon market in Vietnam.

On this occasion, experts share experiences and knowledge about carbon management and carbon market systems in countries worldwide. They analyze the challenges and opportunities businesses face when implementing emission reduction measures and participating in the carbon market, discussing trends, approaches, potential, and challenges of the Carbon Credit market in Vietnam.

Through the conference, experts hope that Vietnam will become an important contributing country in promoting practical sustainable development, technology transfer, and international cooperation, positioning itself in the global transition to a low-carbon economy.

Carbon credits are created with the idea of providing financial incentives to reduce greenhouse gas emissions and promote sustainable development. Individuals, companies, and governments can buy carbon credits to offset greenhouse gas emissions or sell them to generate financial benefits. Carbon credits were first introduced in the Kyoto Protocol in 1997 and came into effect in 2005. Since then, the global carbon credit market has grown rapidly and reached $3 billion in 2020.

To achieve the national strategy on climate change by 2050 and take advantage of the financial benefits from the global carbon credit market for sustainable development, Vietnam has been and is working towards establishing a national carbon credit market by 2025, aiming for carbon credit exports in 2027.

By TD