Within the scope of the project “Emissions Ambition for Sustainable Economies” (EASE), implemented by International Institute for Sustainable Development (IISD), Green Climate Innovation Co., Ltd. (GreenCIC) has contributed to the development of the publication “Carbon Market Insights – Volume 1, Issue 1”.
This edition focuses on key developments in global carbon pricing while analyzing the impacts of the European Union's Carbon Border Adjustment Mechanism (CBAM) on Southeast Asian exports. Additionally, the publication provides updates on implementation trends of Article 6 of the Paris Agreement and the progress of carbon market development in Indonesia, the Philippines and Vietnam.
Photo: The publication “Carbon Market Insights – Volume 1, Issue 1”
Notably, 20% of Vietnam's steel exports are destined for the EU, making the sector highly vulnerable to new carbon costs.
Vietnam’s national compliance market is in its pilot phase, awaiting the finalization of the allocation plan and trading regulations. The operation of the Emission Trading System (ETS) has been postponed until the end of 2026, while the legal and technical frameworks are being progressively completed.
In parallel, Vietnam is advancing the implementation of Article 6 of the Paris Agreement, step-by-step aligning its domestic carbon credit system with international standards. Complementary policies, such as environmental taxes on fuels, energy price reforms, and adjustments to direct power subsidies, are also being implemented by the government alongside market-based instruments.
Through the collaboration on this publication with IISD, GreenCIC continues to demonstrate its technical expertise, contributing to the advancement of carbon market development in Vietnam and the Southeast Asian region.
To learn more about the publication, please visit: https://www.iisd.org/publications/brief/carbon-market-insights-volume-1-issue-1
