CT Group launched its ASEAN Carbon Credit Exchange Joint Stock Company (CCTPA) on September 29, becoming the first Vietnamese enterprise to kick off a voluntary carbon emissions exchange in an attempt to respond to trade policies on international environment, and to develop a low-carbon emission economy.

Vietnam has received US$41.2 million, equivalent to 80% of the total funding, from the World Bank for 10.3 million tonnes of CO2 as a result of its efforts to reduce carbon emissions in deforestation and forest degradation until 2025, according to Director of the Forestry Department under the Ministry of Agriculture and Rural Development (MARD) Tran Quang Bao.

The Japan International Cooperation Agency (JICA) has pledged to partner with the Ministry of Natural Resources and Environment to strengthen Vietnam’s capacity for reducing carbon emissions.

VOV.VN - Local businesses are required to devise a specific carbon emission reduction roadmap towards meeting the net zero emissions target by 2050, heard a green economy forum 2023 titled “Net Zero – Turning promise into reality” held in Ho Chi Minh City on August 18.

Over 450 exhibitors from 30 countries and territories will join the 16th international exhibition on processing, and packaging food, beverage, pharmaceutical, and cosmetics industry – ProPak Vietnam 2023 that is slated to take place in Ho Chi Minh City in November.

Enterprises should look for niche markets to better cope with declines in exports in major markets.

A workshop on using clean and renewable energy to reduce carbon emission was held in Hanoi on June 30.

The European Union (EU)’s Carbon Border Adjustment Mechanism (CBAM), which is set to take effect in 2024, will impact production and trade activities of Vietnamese manufacturers, especially in high carbon emission industries like iron and steel, aluminium and cement, as well as the whole economy, said experts.

VOV.VN - Four Japanese banks are set to co-finance a total of US$300 million to provide credit lines to power producers using renewable energy in Vietnam as part of efforts to help the growing country in its decarbonising process.

Vietnam is undergoing clean energy transition at an accelerating rate and is considered the leader of clean energy transition in Southeast Asia, Shubham Rai, a research intern in the Southeast Asia and Oceania Centre at Manohar Parrikar Institute for Defence Studies and Analyses (MP-IDSA), India, wrote in an article.