Vietnam ratifies regulation on national emissions quota and carbon credit registry system
The Ministry of Agriculture and Environment has ratified the Circular No. 11 on the management and operation of the national registry system for greenhouse gas emission quotas and carbon credits.
Entities subject to the regulation include units under the ministry, stock exchanges, organizations with facilities allocated greenhouse gas emission quotas, and organizations with registered programs under carbon credit exchange and offset mechanisms.
The national registry system will operate in full compliance with regulations governing the organization and development of the carbon market, ensuring transparency, accuracy, schedule, safety and data security.
The system centrally manages all greenhouse gas emission quotas and carbon credits. Information recorded and stored in the registry includes account holders, quantities, domestic codes, serial numbers, status and transaction histories.
Under the circular, each organization is granted only one registry account, even if it operates multiple facilities included in the list of entities allocated emission quotas. Account identification codes are issued in association with the organization’s tax identification number. To ensure smooth operation and coordination, account holders must register and maintain information for at least two designated contact persons with the ministry through the registry system.
Facilities may conduct transactions involving the transfer and borrowing of quotas, as well as the use of carbon credits for emissions offsetting in accordance with regulations. The circular also specifies cases involving account cancellation and the handling of carbon credits and emission quotas that are withdrawn or found to be non-compliant.
The Ministry of Agriculture and Environment is the sole authority responsible for issuing and managing domestic codes and serial numbers for emission quotas and carbon credits within the national registry system.
Domestic codes uniquely identify emission quotas or carbon credits within Vietnam. The ministry will coordinate with relevant agencies to ensure transparency and information security and to publish reports on the use and trading of emission quotas and carbon credits.
The circular also stipulates that the provision, use and exchange of information must comply with regulations on state secrets protection, cybersecurity and other relevant laws.
The circular will take effect on March 30, 2026.
Hai Phong News