Kyoto Protocol 1997 and Paris Agreement 2015 are international accords that laid out international CO2 emissions goals. With these new regulations in force, the pressure on businesses to find ways to reduce their carbon footprint is growing. Most of today’s interim solutions involve the use of carbon markets. What the carbon markets do is turn CO2 emissions into a commodity by giving it a price.
These emissions fall into one of two categories: Carbon credits or carbon offsets, and they can both be bought and sold on a carbon market. It’s a simple idea that provides a market-based solution to a thorny problem.
VTN would like to share some thoughts on carbon credit from Vietnamese law outlook.
