Purchasing carbon credits from Vietnam difficult without clear legal frameworks

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People patrol a forest in Quang Tri Province in central Vietnam. Photo by VnExpress/Hoang Tao

 

Several foreign businesses find it difficult to purchase carbon credits from Vietnam due to a lack of clear legal frameworks.

 

On the sidelines of a conference on Tuesday, Pham Thu Thuy, director of the Climate Change, Energy and Low-Carbon Development team at the Center for International Forestry Research and World Agroforestry, said there are several energy companies, finance and banking institutions and other foreign entities that would like to purchase carbon credits in Vietnam, but are hesitant to do so due to a lack of a clear legal framework.

 

Carbon credits are permits that allow the owner of such credits to emit a certain amount of carbon dioxide or other greenhouse gases. One credit represents the right to emit one ton of carbon dioxide or other greenhouse gases.

 

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