TITLE:
Exploring Potential Participation of Vietnam in the Carbon Market
AUTHORS:
Mai Kim Lien, Nguyen Dieu Huyen, Nguyen Thanh Cong, Nguyen Van Minh
KEYWORDS:
Vietnam, Carbon Market, Kyoto Protocol, Paris Agreement
JOURNAL NAME:
Low Carbon Economy,
Vol.11 No.2,
June
30,
2020
ABSTRACT: Currently,
the development of the carbon market is considered as an urgent requirement because it contributes to creating
certain economic values and protecting the environment and sustainable
development of a country. In addition, this instrument can also enhance
diplomatic relations through scientific, technological and financial
investments among countries all over the world. Vietnam is assessed as having
potential to reduce its greenhouse gas (GHG) emissions by 9% compared to the
Business-As-Usual scenario by 2030 using
domestic resources (equivalent to 83.9 million tons of CO2eq).
The above-mentioned 9% contribution can be increased
by up to 27% (equivalent to 250.8 million tons of CO2eq) if the country can receive the
international support through bilateral and multilateral cooperation as well as
the implementation of new mechanisms under the Paris Agreement. The paper gives
an overview of a number of domestic carbon markets in some countries and
assesses the potential for developing Vietnam’s carbon market.