Vietnam stands at a pivotal juncture as it seeks to actualise its net-zero carbon ambitions by 2050, with the launch of a domestic carbon credit market closely seen as a strategic instrument to catalyse greenhouse gas mitigation.

Prime Minister Pham Minh Chinh has called on the International Fund for Agricultural Development (IFAD)’s assistance for Vietnam to develop the carbon credit market and support farmers in remote areas.

Vietnam needs to establish a specific roadmap for the transition to green energy as well as design and manage the emissions trading system toward the official operation of the carbon market in 2028, according to experts.

VOV.VN - Vietnam earned US$51.5 million from selling 10.3 million forestry carbon credits last year, opening up a significant opportunity for the country to speed up the transition to green production.

Deputy Prime Minister Tran Hong Ha on January 8 requested the comprehensive development of a carbon credit market when chairing a meeting on the establishment of the market in Vietnam.

VOV.VN - State President Vo Van Thuong has hailed the establishment of the digital and green economic partnership between the nation and Singapore which aims to bring the co-operative relationship to a new and sustainable stage.