On June 29, 2026, Vietnam marked a monumental milestone in its journey toward sustainable economic development. The Ministry of Finance, in close collaboration with the Ministry of Agriculture and Environment (MAE), officially inaugurated the country's first domestic carbon trading exchange platform at the Hanoi Stock Exchange (HNX).

The launch moves Vietnam from administrative emission management to a highly anticipated market-based compliance system. It establishes a unified mechanism designed to help domestic enterprises balance green growth targets with financial optimization.

Key Opening Day Trading Highlights

The pilot carbon market officially debuted under the trading product code VN2025, tracking greenhouse gas emission allowances for the 2025-2026 compliance cycle.

Opening price action: Trading commenced with a baseline offer of VND 130,000 ($5.17) per ton of CO2e, reaching an intra-day high of VND 136,000 ($5.41).

Initial market liquidity: By the close of the inaugural session, the platform recorded a total transaction volume of 1,210 tons of CO2e, yielding a combined market turnover of VND 161.7 million (~$6,150).

Infrastructure partners: The clearance and settlement architecture is structurally managed through a joint framework between the HNX, the Vietnam Securities Depository and Clearing Corporation (VSDC), and the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV).

Market Parameters and Regulatory Scope

The structural design of the platform follows strict guidelines outlined in Decree No. 29/2026/ND-CP, which provides a comprehensive legal framework for the allocation, custody, transfer, and clearing of emissions.

Under the Prime Minister’s Decision No. 232/QD-TTg, the pilot phase targets 110 high-emitting facilities across the thermal power, iron and steel, and cement industries. Out of these initial entities, 92 pioneering enterprises have fully completed their technical onboarding with the National Registry system and are fully cleared to trade.

The total volume of allowances currently allocated across these targeted sectors sits at over 511 million tons of CO2e. Unused allowances can be held or sold on the market until their definitive expiration date on December 24, 2027.

To ease the compliance transition, the government has announced that all participating enterprises are completely exempt from exchange and custody service fees during the pilot period running through the end of 2028. Full, uncapped commercial trading operations will deploy nationally in 2029.

Vietnam’s new carbon exchange marks a decisive shift toward market-driven decarbonization. By establishing a clear pricing mechanism and a structured compliance framework, the platform provides forward-thinking businesses with the tools to manage emissions, protect profit margins, and seamlessly integrate into the rapidly evolving global green economy. Follow FTK for real-time insights and expert guidance on the green economy!

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