On 29 June 2026, Vietnam officially launched its emission trading system (ETS) at the Hanoi Stock Exchange, with the first greenhouse gas (“GHG”) emission allowance code identified as VN2025. The launch marks an important milestone in Vietnam’s carbon market roadmap, signaling that the country’s carbon market is moving from policy design and institutional preparation toward actual market operation. According to the State Securities Commission, the legal framework, technological infrastructure, operating procedures and inter-agency coordination mechanisms had been prepared to support the official launch and operation of the domestic carbon exchange.

This paper provides an update on the key legal developments shaping Vietnam’s carbon credit framework. It focuses on four main areas: first, the amended framework under Decree 06/2022/ND-CP for GHG emission mitigation, carbon credit creation, offsetting and the national registry system; second, the domestic carbon exchange under Decree 29/2026/ND-CP; third, the international transfer regime under Decree 112/2026/ND-CP; and fourth, the new regulatory framework for forest carbon credits under Decree 180/2026/ND-CP.

Please check out the details below:

260804 Vietnam’s New Carbon Credit Regulations_From Legal Framework to Market Operation