Exploring Potential Participation of Vietnam in the Carbon Market

Document pages: 19 pages

Abstract: Currently,the development of the carbon market is considered as an urgent requirement because it contributes to creatingcertain economic values and protecting the environment and sustainabledevelopment of a country. In addition, this instrument can also enhancediplomatic relations through scientific, technological and financialinvestments among countries all over the world. Vietnam is assessed as havingpotential to reduce its greenhouse gas (GHG) emissions by 9 compared to theBusiness-As-Usual scenario by 2030 usingdomestic resources (equivalent to 83.9 million tons of CO2eq).The above-mentioned 9 contribution can be increasedby up to 27 (equivalent to 250.8 million tons of CO2eq) if the country can receive theinternational support through bilateral and multilateral cooperation as well asthe implementation of new mechanisms under the Paris Agreement. The paper givesan overview of a number of domestic carbon markets in some countries andassesses the potential for developing Vietnam’s carbon market.