Vietnam has officially launched its carbon trading exchange, marking the start of its pilot domestic carbon market with the first trades in greenhouse gas emission allowances as the country advances its net-zero emissions strategy, according to Vietnamese media reports. The exchange began trading greenhouse gas emission allowances under the code VN2025.
First trading session completed
During the first trading session, allowance prices reached a high of VND 136,000/mt ($5.17/mt) of CO₂e before closing at VND 130,000/mt ($4.95/mt) of CO₂e. More than 1,200 mt of CO₂e were traded on the opening day, with a total transaction value of VND 161.7 million ($6,150). Trading data are published on the Hanoi Stock Exchange (HNX) website, with end-of-day market results updated after each trading session.
Steel, power and cement sectors included
For the 2025-2026 period, Vietnam has allocated more than 511 million mt of CO₂e in emission allowances across the thermal power, steel and cement sectors. Under the cap-and-trade system, companies exceeding their allocated emissions quotas must purchase additional allowances from companies with surplus allocations or use eligible carbon credits, which can cover up to 30 percent of a company's allocated emissions quota.
According to the department of climate change under the ministry of agriculture and environment, 92 companies from carbon-intensive industries will participate in the pilot phase, including steelmaker Hoa Phat, Formosa, Vietnam Electricity (EVN), PV Power and cement producer Vicem.
Vietnam plans to operate the carbon trading exchange on a pilot basis through 2028, with the full-scale carbon market scheduled to be launched in 2029. Trading fees will be waived during the pilot period.
