Ecobiz.asia — Vietnam officially launched its national carbon market on Monday, opening the Vietnam Carbon Exchange (VCX) at the Hanoi Stock Exchange (HNX) and allowing 92 companies from carbon-intensive industries to participate in the country’s first emissions trading phase.
Trading on the opening day focused on greenhouse gas (GHG) emission allowances for the 2025–2026 compliance period, marking the start of Vietnam’s national emissions trading system (ETS).
According to the Hanoi Stock Exchange, a total of 511,473,846 tonnes of carbon dioxide equivalent (CO₂e) in emission allowances were made available for trading. The allowances are valid for the 2025–2026 compliance period, with the final trading day scheduled for Dec. 24, 2027.
Under the emissions trading system, companies that emit less than their allocated allowances can sell surplus credits to companies that exceed their emission caps. The mechanism is designed to improve emissions reduction efficiency while creating market-based incentives for businesses to invest in cleaner technologies.
According to the Vietnam Securities Depository and Clearing Corporation (VSDC), six securities firms have been appointed as carbon market clearing and settlement members: VPS Securities, VietinBank Securities, VNDIRECT Securities, DNSE Securities, PetroVietnam Securities, and MB Securities. The firms will manage the entire trading process, including order matching, asset custody, clearing, and settlement.
VNDIRECT Securities said the launch of the carbon market represents another step in Vietnam’s financial market development and could strengthen the country’s appeal to international investors.
The brokerage noted that Vietnam’s expected upgrade to FTSE Russell’s Secondary Emerging Market status later this year could attract more institutional investors that incorporate environmental, social, and governance (ESG) criteria into their investment strategies.
Meanwhile, Vietnam’s Department of Climate Change under the Ministry of Agriculture and Environment said 92 companies have been allocated emission allowances and are eligible to participate in the first compliance period covering 2025–2026.
The participating companies operate in high-emitting sectors, including thermal power generation, cement manufacturing, and steel production. They include Vicem Tam Diep Cement, Bim Son Cement, Nghi Son Cement, Formosa Ha Tinh Hung Nghiep Steel Company, Hoa Phat Dung Quat Steel, Vietnam Electricity Group, and Ho Chi Minh City Power Corporation.
Vietnam’s carbon market is part of the country’s broader strategy to reduce greenhouse gas emissions and fulfill its climate commitments by introducing market-based mechanisms to support industrial decarbonization. ***
