Develop a scheme to establish a carbon market

Xây dựng Đề án thành lập thị trường carbon - Ảnh 1.

Good implementation of the carbon market helps businesses and society as a whole to carry out mitigation activities of greenhouse gas emissions at low cost, promoting low-emission industrial development.

Specifically, in Document 648/VPCP-NN dated January 26, 2022, the Deputy Prime Minister requested the Ministry of Finance to report on the implementation of the task of developing financial mechanisms and policies to form and operate the financial market. carbon market in Decision No. 1775/QD-TTg dated November 21, 2012 of the Prime Minister; on that basis, assume the prime responsibility for, and coordinate with the Ministry of Natural Resources and Environment and relevant agencies in, formulating a scheme on establishing a domestic carbon market in accordance with the provisions of the Law on Environmental Protection in 2020, reporting to the Prime Minister.

According to the report of the Ministry of Natural Resources and Environment on the approval of the Carbon Market Development Scheme in Viet Nam, in the past time, many domestic organizations and enterprises have participated in the implementation of projects under the Clean development mechanism, the Common Credit Mechanism, the carbon credit exchange mechanism under the cooperative program and a number of other voluntary carbon credit exchange mechanisms. Through the implementation of these mechanisms, businesses have had more financial resources from exchanging and selling carbon credits, receiving low-emission technologies from developed countries.

In order to have a basis for exchanging and trading carbon credits between domestic organizations and enterprises, contributing to promoting the implementation of activities to reduce greenhouse gas emissions, the development of the domestic carbon market has been in place since 2011 in the Project on management of greenhouse gas emissions; managing carbon credit business activities to the world market, promulgated together with the Prime Minister’s Decision No. 1775/QD-TTg. Developing the domestic carbon market is considered a key priority task stated in the Resolution No. 24-NQ/TW of the Central Committee in 2013, the Paris Agreement implementation plan issued by the Prime Minister in 2016. However, in the recent period, Viet Nam has not been obliged to reduce greenhouse gas emissions, so businesses have no need to buy carbon credits but can only be exchanged under international cooperation mechanisms.

According to the requirements of the Paris Agreement, Viet Nam is required to fulfill its mandatory obligation to reduce greenhouse gas emissions from 2021 according to the contribution determined by the country, especially efforts should be made to implement measures to reduce greenhouse gas emissions towards the goal of achieving “zero” net emissions by 2050 as committed at COP 26. Carbon pricing tools need to be implemented and applied in our country, including the development of the domestic carbon market..

The Law on Environmental Protection passed by the XIV National Assembly at its 10th session stipulates the organization and development of the carbon market; The roadmap and time of implementation of the domestic carbon market are specified in the Decree on mitigation of greenhouse gas emissions and protection of the ozone layer. According to the Law on Environmental Protection, the development of the domestic carbon market includes the exchange of greenhouse gas emission quotas and carbon credits obtained from the carbon credit clearing and exchange mechanism. Greenhouse gas-emitting establishments that have to carry out a greenhouse gas inventory will be allocated a greenhouse gas emission quota and have the right to exchange, buy and sell on the domestic carbon market.

Implementing activities to reduce greenhouse gas emissions and developing carbon markets is an inevitable trend of the world. In order to effectively implement the provisions of the Law on Environmental Protection on the organization and development of the carbon market, it is essential to develop and implement the Project on the development of the carbon market in Viet Nam, in order to concretize contents and activities to be implemented to establish and operate a carbon market.

Good implementation of the carbon market helps businesses and society as a whole to carry out activities to reduce greenhouse gas emissions at low costs, promote low-emission industrial development, and transforming the economy model towards low carbon, contributing to improving the competitiveness of businesses and fulfilling international commitments on reducing greenhouse gas emissions as stipulated in the Paris Agreement.

According to Chinhphu.vn

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27 Jun 22
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Decision No. 450/QD-TTg of the Prime Minister: Approving the National Strategy for Environmental Protection to 2030, with a Vision to 2050 News, News, News

On April 13, 2022, Deputy Prime Minister Le Van Thanh signed a decision approving the National Strategy for Environmental Protection to 2030, with a Vision to 2050. In order to successfully carry out the assigned tasks, the time required In the past, the Institute of Strategy and Policy on natural resources and environment (ISPONRE) On October 30, 2020, Minister Tran Hong Ha submitted to the Prime Minister for approval the National Strategy for Environmental Protection to 2030, with a vision to 2050 in Report No. 54/TTr-BTNMT.

On November 23, 2020, the Government Office issued Official Letter No. 9777/VPCP-NN to the Ministry of Natural Resources and Environment for the direction of Deputy Prime Minister Trinh Dinh Dung on continuing to review the draft Strategy to ensure ensure compliance with the Law on Environmental Protection 2020 and Documents after the end of the 13th Party Congress; at the same time, working with ministries and branches also have different opinions on the targets of the Strategy. Following the direction of Deputy Prime Minister Trinh Dinh Dung, ISPONRE reviewed the views, goals, tasks and solutions, worked with a number of ministries and branches and completed the Draft Strategy.

On April 29, 2021, Minister Tran Hong Ha signed and promulgated Official Letter No. 2007/BTNMT-VCLCS to the Prime Minister on reviewing and finalizing the Draft Strategy.

On July 27, 2021, Deputy Minister Vo Tuan Nhan signed and promulgated Official Letter No. 4204/BTNMT-VCLC to the Government Office on receiving comments from Ministries and sectors on the Draft National Strategy for Environmental Protection to 2030, with a vision to 2050.

On September 16, 2021, the Government Office issued Official Letter No. 6553/VPCP-NN to the Ministry of Natural Resources and Environment on continuing to review the Draft National Environmental Protection Strategy to 2030, with a vision to 2050. Accordingly, the Institute has reviewed, supplemented and updated the content of the Draft Strategy to ensure consistency with the Decree guiding the implementation of the Law on Environmental Protection 2020, a number of newly issued documents and commitments of Viet Nam at COP26.

On April 13, 2022, Deputy Prime Minister Le Van Thanh signed a decision approving the National Strategy for Environmental Protection to 2030, with a Vision to 2050. approved strategy with the view that environment is the conditions, foundations and prerequisites for sustainable socio-economic development, so economic development must be in harmony with nature, respect natural laws, and do not trade off the environment for economic growth. Environmental protection is the responsibility of the whole political system and society as a whole, in which local authorities, businesses, communities and people play an important role. Protecting the environment must take the protection of people’s health as a top goal. Prioritize proactively preventing and controlling pollution, focusing on solving key and urgent environmental issues; overcoming pollution, degradation, improving environmental quality, combined with nature conservation and biodiversity, contributing to climate change response.

The objective of the Strategy is to prevent the trend of increasing pollution and environmental degradation by 2030, solve urgent environmental problems, and gradually improve and restore environmental quality; prevent biodiversity loss. Improve capacity to proactively respond to climate change; ensuring environmental security, building and developing models of circular economy, green economy, low carbon, striving to achieve the country’s sustainable development goals.

The National Environmental Protection Strategy defines a vision that by 2050, Viet Nam’s environment will be of good quality, ensuring the people’s right to live in a clean and safe environment; biodiversity is preserved, conserved, and ecological balance is ensured; proactively respond to climate change; A society in harmony with nature, a circular economy, a green and low-carbon economy is formed and developed, towards the goal of being carbon neutral by 2050.

Strategic tasks set out:

– Actively prevent, control and prevent adverse impacts on the environment and environmental incidents.

– Solve key and urgent environmental issues; overcome environmental pollution and degradation; maintain and improve the quality and hygiene of the environment.

– Conserve nature and biodiversity, promote environmental protection in the exploitation and use of resources.

– Actively protect the environment to contribute to improving capacity to adapt to climate change and reduce greenhouse gas emissions.

To carry out the above tasks, first of all, it is necessary to renew the thinking of all levels and branches; raising awareness and awareness of environmental protection of businesses, communities and people. Continue to improve the system of policies and laws on environmental protection in line with market economic institutions, improve the organizational structure, and speed up the reform of administrative procedures in environmental protection. Besides, it is necessary to strongly apply science and technology, promote innovation and digital transformation; building technical infrastructure, monitoring network and environmental database, and at the same time promoting international cooperation on environmental protection in the context of deep integration of the economy.

For details of the Decision, please see here.has presided over and coordinated with relevant units to research and develop a draft national strategy for environmental protection to 2030, with a vision to 2050. .

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