When will the ETS market officially operate in Vietnam?

The development and launch of Vietnam's national Emission Trading System (ETS) is guided by a phased roadmap set forth by the government. The timeline is designed to ensure a stable and effective transition into a regulated carbon market.21

Phase 1: Preparation and Piloting (Until the end of 2027)

This initial phase, beginning in 2025, is dedicated to building the foundational infrastructure for the market. Key activities include finalizing all legal frameworks, establishing a national emissions registry system, developing the carbon trading floor, and implementing a pilot mechanism to test the exchange and offsetting of carbon credits among designated enterprises.

Phase 2: Full Operation and Expansion (From 2028 onwards)

Starting in 2028, the ETS will become fully operational. At this stage, regulated entities will be required to participate in trading emission allowances. Following the official launch, the market's scope is expected to expand progressively. This includes introducing a wider variety of verified carbon credits for trading and broadening the range of entities permitted to participate. Furthermore, a key long-term objective is to promote research into linking Vietnam's domestic carbon market with regional and international markets.

References

21. Prime Minister of Vietnam. (2025). Decision No. 232/QĐ-TTg approving the Scheme for the Development of a Carbon Market in Vietnam. Government Electronic Information Portal. https://vanban.chinhphu.vn/?pageid=27160&docid=212592