en.Wedoany.com Reported - Vietnam's first carbon trading platform saw over 1,200 tonnes of carbon dioxide equivalent traded on Monday, with a total transaction value of approximately $6,144. The pilot market began trading allowances under the code VN2025 on the Hanoi Stock Exchange (HNX), with daily results published on the exchange's website. This marks a significant step for the country in building a domestic carbon market to support its net-zero target by 2050.

During the first day of trading, the price per tonne of carbon dioxide equivalent (CO2e) briefly rose to 136,000 Vietnamese dong (approximately $5.17), before stabilizing at 130,000 dong (approximately $4.95). These allowances represent the maximum amount of greenhouse gases a company is permitted to emit over a specific period. Vietnam has allocated over 511 million tonnes of CO2e allowances for the 2025-2026 period to the three highest-emitting sectors: thermal power, steel, and cement.

Under the cap-and-trade system, companies that exceed their allocated allowances must purchase additional allowances from firms with surplus quotas, or use eligible carbon credits to offset excess emissions, with carbon credits covering up to 30% of a company's allowances. According to local business news service The Investor, exchange chairman Nguyen Anh Phong stated at the launch ceremony that six securities companies will participate in the pilot phase of the market.

Vietnam's Department of Climate Change said 92 companies from carbon-intensive industries will participate in trading, including steelmakers Hoa Phat and Formosa, Vietnam Electricity, PV Power, and cement producer Vicem. Vietnam plans to operate the exchange on a pilot basis until the end of 2028, during which participants will be exempt from transaction fees, before transitioning to a mature carbon market in 2029. The exchange is part of Vietnam's broader strategy to introduce market mechanisms to reduce emissions from its carbon-intensive industries.