Vietnam's legal framework for the carbon emissions trading scheme

Vietnam is a member of at least three basic international treaties on climate change, including the Framework Convention on Climate Change, the Kyoto Protocol, and the Paris Agreement. To implement international commitments, Vietnam has issued the 2020 Environmental Protection Law as the legal foundation for operating the domestic carbon market. The Decree also sets out a roadmap for implementing the domestic carbon market as planned, leading to pilot construction in 2025 and official operation in 2028. During the pilot market construction phase, the focus will be on building, developing market regulations, implementing capacity-building activities, and establishing and operating pilot markets in potential areas. The article focuses on general research on the Vietnamese legal system in managing carbon and determining the legal nature of the right to carbon emission allowances. The article recommends vital content to use in the carbon market in the initial stages. At the same time, the articles suggest ways to determine the nature of emission rights to ensure the stability of the carbon trading market.