Vietnam has officially launched a carbon trading exchange, marking the start of its pilot domestic carbon market with the first greenhouse gas emissions trading as the country pushes forward with its net-zero emissions strategy, according to Vietnamese media reports. The exchange began trading greenhouse gas emission allowances under the code VN2025.
First trading session completed
During the first trading session, prices for allowances reached a maximum of VND 136,000 per tonne (USD 5.17 per tonne) CO₂e, and then closed at VND130,000 per tonne ($4.95 per tonne). CO₂e. On the opening day, more than 1,200 tons of CO₂e were sold for a total of VND 161.7 million (USD 6,150). Trading data is published on the Hanoi Stock Exchange (HNX) website, with end-of-day market results updated after each trading session.
Steel, energy and cement sectors included
For the period 2025-2026, Vietnam has allocated more than 511 million tons of CO₂e in the form of emission allowances in the thermal power, steel and cement sectors. Under a cap-and-trade system, companies that exceed their allotted emissions allowances must purchase additional allowances from companies with excess allowances or use matching carbon credits, which can cover up to 30 percent of a company's allotted emission allowance.
According to the climate change department of the Ministry of Agriculture and Environment, the pilot phase will involve 92 companies from carbon-intensive industries, including Hoa Phat steel plant, Formosa, Vietnam Electricity (EVN), photovoltaic and cement producer Vicem.
Vietnam plans to launch a carbon trading exchange on a pilot basis until 2028, with a full-scale carbon market planned to launch in 2029. During the pilot period, trading fees will be waived.
