PART 1: CONCEPTS AND LEGAL DOCUMENTS RELATED TO CARBON CREDITS
Vietnamese Carbon Market Laws | Decrees, Circulars, and Regulations
Comprehensive guide to Vietnamese carbon market legislation including Decree 06/2022, Decree 119/2025, and Ministry of Agriculture and Environment circulars.
Vietnamese legal documents related to the carbon market
To achieve its commitment of reaching Net Zero emissions by 2050, Vietnam has been progressively building a comprehensive legal framework to govern its domestic carbon market. The development of this framework can be understood through three distinct phases: the establishment of foundational policies, the issuance of detailed implementation regulations, and the creation of sector-specific guidance.
Foundational policies and Strategic orientations
The groundwork for Vietnam's carbon market was laid by several key strategic documents:
| Resolution No. 24-NQ/TW (2013)6 | This resolution from the Party Central Committee was a landmark document that identified greenhouse gas (GHG) mitigation and the development of a carbon market as national priorities, signaling high-level political commitment. |
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| Plan for Implementation of the Paris Agreement (2016) | Following its ratification of the Paris Agreement, Vietnam issued this plan to translate its international commitments into domestic tasks. It explicitly included the mandate to develop mechanisms for managing and trading carbon credits, setting the stage for future market participation. |
| Law on Forestry (2017)7 | This law provided the first legal basis for commodifying forest-based climate action by officially recognizing the "carbon absorption and sequestration services of forests." This opened the door for developing projects to trade forest carbon credits. |
| Law on Environmental Protection (2020)8 | This is the most critical piece of foundational legislation, as Article 139 is dedicated entirely to the "Organization and development of the carbon market." The law officially mandated the creation of a domestic carbon market and established a clear roadmap for its development, covering both emissions allowance trading and carbon credit offsetting. |
Detailed Regulations and Implementation Roadmap
Building on the foundation of the 2020 Law on Environmental Protection, the government issued a series of decrees and decisions to detail the operational rules of the market:
| Decree 06/2022/NĐ-CP9 | This is the cornerstone regulation that provides detailed guidance on GHG mitigation. It established the official roadmap for the carbon market, scheduling a pilot phase from 2025 and full operation from 2028. The decree outlines the responsibilities for facilities required to conduct GHG inventories, sets the principles for allocating emissions allowances, and establishes the rules for using carbon credits to offset excess emissions (capped at 10% of a facility's total allowance). |
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| Decision No. 01/2022/QĐ-TTg10 | This decision identified the entities that are legally obligated to participate in the GHG inventory and reporting system, listing 1,912 facilities across the energy, transportation, construction, industrial processes, and agriculture sectors. |
| Decision No. 232/QĐ-TTg (January 24, 2025)11 | This decision approved the official "Scheme for the Development of a Carbon Market in Vietnam," reaffirming the national roadmap. It directs ministries to build the necessary management regulations and infrastructure for the carbon exchange, with the pilot mechanism for credit trading to be implemented by the end of 2027, leading to the official launch of the trading floor in 2028. |
| Technical Guidance Documents | A series of circulars and decisions, such as Circular 01/2022/TT-BTNMT12 and Circular 17/2022/TT-BTNMT13, provides the specific technical guidelines, reporting forms, and emissions factors necessary for entities to conduct their GHG inventories and report on mitigation actions consistently. |
Sector-specific Regulations
As the legal framework matures, ministries have begun issuing regulations tailored to specific industries:
| Circular 13/2024/TT-BXD (2024)14 | Issued by the Ministry of Construction, this circular provides detailed technical guidance on the GHG inventory process and MRV procedures specifically for facilities within the construction sector. |
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| Draft Decree on Forest Carbon Sequestration Services15 | Currently under development by the Ministry of Agriculture and Rural Development, this forthcoming decree aims to create a comprehensive legal corridor for the management, trading, and payment for forest carbon services, which is expected to unlock significant potential in this key sector. |
References
- The Central Committee of the Communist Party of Vietnam. (2022). Resolution 24-NQ/TW of 2013 on proactively responding to climate change, strengthening resource management and environmental protection, issued by the Central Committee. Thư viện Pháp luật. https://thuvienphapluat.vn/van-ban/Tai-nguyen-Moi-truong/Nghi-quyet-24-NQ-TW-nam-2013-ung-pho-bien-doi-khi-hau-bao-ve-moi-truong-194312.aspx
- National Assembly of Vietnam. (2017). Law No. 16/2017/QH14 of the National Assembly: Law on Forestry. Government Electronic Information Portal. https://vanban.chinhphu.vn/?pageid=27160&docid=192329
- National Assembly of Vietnam. (2020). Law No. 72/2020/QH14 of the National Assembly: Law on Environmental Protection. Government Electronic Information Portal. https://vanban.chinhphu.vn/?pageid=27160&docid=202613
- National Assembly of Vietnam. (2022). Decision No. 01/2022/QD-TTg dated January 18, 2022, promulgating the list of sectors and facilities that must conduct greenhouse gas inventories. Government Electronic Information Portal. https://vanban.chinhphu.vn/?pageid=27160&docid=205181&classid=1
- Prime Minister of Vietnam. (2022). Decision No. 01/2022/QĐ-TTg promulgating the list of sectors and facilities that must conduct greenhouse gas inventories. LuatVietnam. https://english.luatvietnam.vn/decision-no-01-2022-qd-ttg-dated-january-18-2022-of-the-prime-minister-on-promulgating-the-list-of-sectors-greenhouse-gas-emitting-establishments-s-216078-doc1.html
- Prime Minister of Vietnam. (2020). Decision 1775/QD-TTg of 2012 approving the Scheme on management of greenhouse gas emissions; managing carbon credit trading activities in the global market, issued by the Prime Minister. Thư viện Pháp luật. https://thuvienphapluat.vn/van-ban/Tai-nguyen-Moi-truong/Quyet-dinh-232-QD-TTg-2025-phe-duyet-De-an-phat-trien-thi-truong-cac-bon-tai-Viet-Nam-641620.aspx
- Ministry of Agriculture and Environment. (2022). Thông tư 01/2022/TT-BTNMT hướng dẫn Luật Bảo vệ môi trường về ứng phó với biến đổi khí hậu do Bộ trưởng Bộ Tài nguyên và Môi trường ban hành. Thư viện Pháp luật. https://thuvienphapluat.vn/van-ban/Tai-nguyen-Moi-truong/Thong-tu-01-2022-TT-BTNMT-huong-dan-Luat-Bao-ve-moi-truong-500962.aspx
- Ministry of Agriculture and Environment. (2022). Circular 17/2022/TT-BTNMT stipulating technical regulations for measuring, reporting, and verifying greenhouse gas emission mitigation and greenhouse gas inventory in the waste management sector, issued by the Minister of Natural Resources and Environment. Thư viện Pháp luật. https://thuvienphapluat.vn/van-ban/Tai-nguyen-Moi-truong/Thong-tu-17-2022-TT-BTNM-ky-thuat-do-dac-bao-cao-tham-dinh-giam-nhe-phat-thai-khi-nha-kinh-547764.aspx
- Ministry of Construction. (2024). Circular 13/2024/TT-BXD on the process and technical regulations for greenhouse gas inventory and measuring, reporting, and verifying greenhouse gas emission mitigation in the Construction sector, issued by the Minister of Construction. Thư viện Pháp luật. https://thuvienphapluat.vn/van-ban/Xay-dung-Do-thi/Thong-tu-13-2024-TT-BXD-quy-trinh-quy-dinh-ky-thuat-kiem-ke-khi-nha-kinh-nganh-Xay-dung-637890.aspx
- The Government of Vietnam. (2025). Draft Decree stipulating services for carbon absorption and storage by forests. Government Electronic Information Portal. https://chinhphu.vn/du-thao-vbqppl/du-thao-nghi-dinh-quy-dinh-ve-dich-vu-hap-thu-va-luu-giu-cac-bon-cua-rung-7540
International Legal Instruments for Carbon Credits | Kyoto Protocol & Paris Agreement
Learn about key international agreements shaping carbon credit markets - Kyoto Protocol and Paris Agreement Article 6. Understand global climate frameworks.
Carbon Credit Standards | VCS, Gold Standard, and CDM Explained
Learn about leading carbon credit standards - Verified Carbon Standard (VCS), Gold Standard, and Clean Development Mechanism (CDM). Understand their methodologies.