On 24 January 2025, Vietnam’s Prime Minister approved a roadmap for implementing a domestic carbon market to support the country’s net-zero emissions target by 2050. The plan includes a pilot ETS starting in June 2025, with full implementation scheduled for 2029.
Decision No. 232/QD-TTg builds on a 2020 law mandating the Ministry of Natural Resources and Environment (MONRE) to develop an ETS and a measurement, reporting, and verification (MRV) system. It also follows Decree 06/2022/ND-CP, which requires facilities in key sectors to submit emissions inventories starting in 2025 and provides an initial timeline for ETS and carbon credit market development.