Vietnam promulgates PM directive on strengthening carbon credit management

On May 2, 2024, Vietnamese Prime Minister Pham Minh Chinh promulgated Directive No. 13/CT-TTg on Strengthening Carbon Credit Management to Implement the Nationally Determined Contribution (NDC). The PM Directive clarifies the scope of responsibility and specific tasks of involved ministries in promoting carbon credits to reduce greenhouse gas (GHG) emissions in Vietnam.

In order to achieve the GHG reduction commitment by 2030 and the net zero emission commitment by 2050 based on its NDC(*), the key issue for Vietnam is to develop and implement GHG emission reduction plans for each sector and to establish a carbon market and carbon credit management mechanism.