The EU-Vietnam Free Trade Agreement (EVFTA) is an agreement inclined towards sustainable development. The EU’s CBAM (Carbon Border Adjustment Mechanism) has posed a new challenge for Vietnam’s exports to enter the EU market.

Vietnam is one of 20 countries in the world with high emissions, with CO2 emissions doubling in the last 10 years.

Businesses in certain sectors need to provide data for greenhouse gas inventory for relevant ministries before March 31, 2022, in compliance with Decision 01/2022 of the prime minister.

Greenhouse gas emissions in Vietnam increased rapidly over the past three decades in direct proportion to the economy’s growth.

Vietnam has completed an updated Nationally Determined Contribution (NDC) with plans to reduce total greenhouse gas emissions 9 percent by 2030 in an attempt to respond to climate change.

The Ministry of Construction has announced a national action plan on green growth in 2020-2030 focusing on reducing greenhouse gas (GHG) emissions and implementing the Paris Agreement.

The Vietnam Coalition for Climate Action (VCCA) was inaugurated during a ceremony held in Hue city of the central province of Thua Thien-Hue on August 21.

The draft decree stipulating the schedule and modalities to reduce greenhouse gas emissions has been opened for public opinion by the Ministry of Natural Resources and the Environment (MONRE).

VietNamNet Bridge - China ranks first with 20.09 percent, while Vietnam is 27th in terms of greenhouse gas emissions, with 0.72 percent of total global emissions.

 VietNamNet Bridge – The PM has recently approved a World Bank-funded technical support project on building a carbon market in Viet Nam.

 It is vital for Vietnam to design a master plan with short- and long-term targets for the country’s participation in the global carbon market, as emphasised at a seminar held in Hanoi on March 5.