In June 2025, the Government promulgated Decree No. 119/2025/ND-CP (“Decree 119”) amending and supplementing a number of articles of Decree No. 06/2022/ND-CP (“Decree 06”) on greenhouse gas (GHG) emission reduction and ozone layer protection.

Decree 06 had set the goal of launching a pilot domestic carbon exchange from 2025. However, due to current limitations, this timeline is no longer feasible. Decree 119 revises the roadmap with the following milestones:
By the end of 2028: Complete the establishment of the National Registry; Operate the domestic carbon exchange on a pilot basis; Implement mechanisms for domestic carbon credit exchange and offsetting.
From 2029 onward: Implement GHG emission quota auction mechanisms; Officially operate the domestic carbon market and participate in international carbon markets.