A Comprehensive Legal Framework Has Been Established

The issuance of Decree No. 29/2026/ND-CP represents a key milestone in the development of Viet Nam’s carbon market.

This Decree governs all activities related to the domestic carbon exchange, including:

• Registration and issuance of carbon credit codes
• Transfer of ownership
• Depository, trading, and settlement mechanisms
• Disclosure and reporting requirements

It also clearly defines the entities responsible for market operations, including:

• Viet Nam Stock Exchange
• Ha Noi Stock Exchange
• Viet Nam Securities Depository and Clearing Corporation

These provisions build upon and extend earlier regulations, notably:

• Decree No. 06/2022/ND-CP on greenhouse gas emission reduction
• Decree No. 119/2025/ND-CP on emission management

This confirms that the carbon market is not an isolated initiative, but part of a structured, long-term policy roadmap.

Technical Infrastructure and Management Systems Under Development

Alongside the legal framework, the Government is developing the core operational infrastructure.

A national carbon registry system is being established to:

• Record emission allowances
• Track carbon credits
• Control transfer activities

In parallel, the MRV mechanism (Measurement – Reporting – Verification) is being implemented, requiring businesses to:

• Monitor emissions on a regular basis
• Report verified data
• Ensure compliance before participating in transactions

These elements are designed to ensure transparency and prevent inconsistencies in emission data.
 
Governance Mechanism and Tradable Assets Clearly Defined

Under current regulations, tradable assets in the carbon market include:

• Greenhouse gas emission allowances
• Eligible carbon credits

The governance framework is structured to ensure:

• Periodic reporting
• Public disclosure
• Data verification and inspection

This approach strengthens transparency and maintains consistency across the system.
 
Impact Begins During the Preparation Phase

Although trading activities have not yet started, regulatory requirements are already affecting businesses.

High-emission sectors such as power generation, steel, and cement are being prioritised for monitoring and reporting obligations.

More importantly, the impact is extending across the entire supply chain.

Export-oriented businesses are increasingly required to:

• Provide emission data
• Ensure transparency across logistics operations
• Prepare for international mechanisms such as CBAM

 
Logistics: Early Preparation Is Essential for Emission Management

Within the supply chain, logistics represents a significant source of emissions through international transport, domestic distribution, and warehousing operations.

As the carbon market becomes operational, these emission sources are expected to translate into direct cost factors.

Preparing at this stage enables businesses to:

• Assess emissions across transport routes
• Select appropriate transport modes
• Optimise operations to reduce emissions

These are controllable factors that can be addressed before carbon costs are widely enforced.

At this stage, the focus is not on trading but on readiness. Businesses need to establish emission measurement capabilities, understand operational impacts, and adjust supply chains accordingly, particularly in logistics.

Early preparation will determine how effectively companies adapt once the carbon market becomes fully operational.

Contact Vantage Logistics to assess your logistics emissions and develop a practical strategy to prepare for upcoming carbon market requirements.