(VOVWORLD) - Deputy Prime Minister Tran Hong Ha on Monday requested the comprehensive development of a carbon credit market which he said is an opportunity for Vietnam to switch to an appropriate development model in the future.
 Deputy Prime Minister Tran Hong Ha speaks at the meeting on the establishment of the carbon credit market in Vietnam, January 8, 2024 (Photo: VOV) |
Chairing a meeting on the establishment of the market in Vietnam, the Deputy PM stressed updates on global policies and agreements as well as strategies and plans with the orientations on climate change response, just energy transition, and greenhouse gas emission reduction.
This move contributes to the preparation of major global policies on reducing greenhouse gas emissions, allocating emission quotas, exchanging carbon credits, and creating green financial resources for businesses to innovate technology, Ha said.
Efforts should be made to ensure that the domestic carbon credit market operates fairly, openly, and effectively, and in accordance with international conditions and practices, according to the Deputy PM.
He stressed the need to harmonize the interests of entities in the market, and increase economic development with low carbon emissions and sustainable development.
It will also promote the development of low-emission technology, improve the competitiveness of Vietnamese businesses towards a low-carbon economy and proactive response to climate change, Ha said.