Vietnam to Work out Scheme for Emission Management, Carbon Credit Business

The Ministry of Natural Resources and Environment recently held a conference on drafting a scheme on the emission management and carbon credit business. Currently, Vietnam has no commitments to emission reduction, but it will bear the responsibility of reporting the status of quantitative emissions in accordance with new international trends and legal roadmap formed under the Kyoto Protocol.

 

Deputy Minister Tran Hong Ha of National Resources and Environment, said: This is both an obligation and an opportunity for Vietnam to change the model of sustainable economic development.

 

According to the Department of Meteorology, Hydrology and Climate Change, Vietnam started activities concerning the management of greenhouse emission reduction very early like building national announcements on greenhouse emission measurements, and issuing documents and suggestions for gas emission. As regards the management of carbon credit trading, Vietnam has issued many policies for investment projects in accordance with the Clean Development Mechanism (CDM). The country now has 112 recognised CDM projects with nearly 6.75 million greenhouse gas emission certificates, becoming the world’s fifth largest owner of CDM projects.

 

The Ministry of Natural Resources and Environment plans to submit the draft scheme to the Government for approval in May 2012.