Vietnam's Carbon Market Accelerates: National Strategy and Opportunities for Businesses

Vietnam's carbon credit market is entering a dynamic new phase, driven by a methodical national strategy and a series of key international collaborations. These developments not only affirm the nation's strong commitment to Net Zero but also open up a new landscape of opportunities for businesses across technical and engineering sectors.

Most recently, a high-level cooperation event with Japan through the Joint Crediting Mechanism (JCM) in late July 2025, followed by a meeting with the Swiss Embassy on August 7, 2025, concerning a bilateral agreement under Article 6 of the Paris Agreement, have demonstrated Vietnam's determination to build a transparent carbon market that adheres to the highest international standards.

This is a golden moment for businesses to view the carbon market not just as a compliance obligation, but as a strategic opportunity for enhancing competitiveness and achieving sustainable growth.

Driving Forces: Bilateral and Multilateral Cooperation

Vietnam's progress is built upon a foundation of strategic, dynamic, and extensive partnerships:

• Strategic Partnership with Japan: The JCM has become a solid cornerstone, with 14 projects already registered and approximately 35,000 carbon credits issued, paving the way for future emission reduction projects.
• Expanding Cooperation with Switzerland: Negotiating an agreement under Article 6 of the Paris Agreement is a strategic move, showing Vietnam's proactive approach to adopting the most rigorous and reputable standards of the global carbon market.
• Partnership with the European Union (EU): Cooperation with the EU, especially through forest protection programs like REDD+ and FLEGT, is generating high-quality carbon credits with significant value on the international market.
• Cooperation with South Korea: Investors South Korea are actively participating in large-scale renewable energy projects, which promise to generate a substantial volume of carbon credits.

The Key Role of International Organizations: Institutions like the World Bank, Asian Development Bank (ADB), and the United Nations (UN) are playing a pivotal role through financial and technical support packages. Notably, the World Bank has already paid $51.5 million to Vietnam through its FCPF Fund.

A Solid Legal Foundation for Market Operation

To realize its Net Zero 2050 commitment and support the market, Vietnam has been developing an increasingly complete legal framework:

• Law on Environmental Protection 2020: This is the highest legal document, laying the groundwork for the establishment and development of the domestic carbon market.
• Decree 06/2022/NĐ-CP: This decree details the roadmap, technical regulations, and responsibilities for stakeholders in mitigating greenhouse gas emissions, creating a clear framework for carbon credit projects.

CIC's Role: Your Partner on the Journey

Navigating the accelerating carbon market— understanding regulations to implementing projects and maximizing benefits—requires deep technical and legal expertise. With over 35 years of experience and as a pioneer in technology and consulting for the engineering sectors, CIC is proud to be a strategic partner, ready to support Vietnamese businesses on this journey.

We offer a comprehensive ecosystem of Environmental & Sustainable Development services:

• Greenhouse Gas (GHG) Inventory Consulting: We conduct inventories covering Scope 1, 2, and 3, in strict compliance with the international standard ISO 14064 and Decree 06/2022/NĐ-CP.
• Life Cycle Assessment (LCA): We analyze and assess the environmental impacts of products according to ISO 14040/14044, helping businesses optimize production and meet the demands of discerning markets.
• Environmental Product Declaration (EPD) Consulting: We assist businesses in developing and publishing EPDs based on ISO 14025 and EN 15804 standards, enhancing product transparency and competitive advantage.
• Providing Software and Technology Solutions: As a distributor for leading global technology firms, CIC provides powerful tools like SimaPro and Carbon Cage to help businesses accurately and efficiently inventory, track, and report emissions. 

Broad Prospects Ahead

The global carbon market is forecast to reach $100 billion by 2030. With immense potential forestry, renewable energy, and sustainable agriculture, alongside international financial commitments like the JETP ($15.5 billion), Vietnam is facing a historic opportunity.

The recent flurry of international activities is not a series of isolated events but clear evidence of a well-designed national strategy. As a trusted partner, 

CIC is committed to "Keeping pace with technology" and will continue to deliver optimal consulting and technology solutions. We empower Vietnamese businesses to confidently seize these opportunities, turning challenges into a driving force for sustainable growth.