Currently, Vietnam does not have a mandatory market for carbon credits. Therefore, the transfer of emission reduction results is carried out through bilateral negotiation agreements between related parties according to the voluntary market. Meanwhile, some ASEAN countries have sold forest carbon credits before Vietnam and established an official market. Many experts have said that Vietnam's carbon credit market, experimental or official, is lagging behind other markets in the region.
Nearly 40 countries have issued carbon taxes
The carbon market originated from the United Nations Kyoto Protocol on climate change, adopted in 1997. Accordingly, countries with excess emission rights are sold to or purchased from countries that emit more or less than their committed targets.
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