The workshop aimed to implement the Framework Agreement on Cooperation on Climate Change (CC) between the two Governments, and at the same time, towards the 30th anniversary of the establishment of diplomatic relations between Vietnam and Korea (December 22, 2019). 1992-22 December 2022). The workshop aimed to implement the Framework Agreement on Cooperation on Climate Change (CC) between the two Governments, and at the same time, towards the 30th anniversary of the establishment of diplomatic relations between Vietnam and Korea (December 22, 2019). 1992-22 December 2022).

Speaking at the workshop, Mr. Tang The Cuong, Director of the Department of Climate Change, said: Vietnam has always considered responding to climate change as a matter of vital importance and the responsibility of the whole political system. Vietnam has committed to net zero emissions by 2050. The implementation of commitments is reflected in the updated National Strategy on Climate Change for the period to 2050, Vietnam’s Nationally Determined Contribution (NDC) to the Secretariat of the United Nations Framework Convention on CC.

Mr. Tang The Cuong, Director of the Department of Climate Change spoke at the workshop. Source: monre.gov.vn

Vietnam is a country with great potential for the development of carbon pricing tools, especially in the development of the domestic carbon market. The Law on Environmental Protection 2020 regulates the organization and development of the carbon market, including the exchange of greenhouse gas emission quotas and carbon credits obtained from the exchange mechanism, offset domestic and international carbon credits. The roadmap for the development of the domestic carbon market is specified in the Government’s Decree No. 06/2022/ND-CP dated January 7, 2022 regulating mitigation of greenhouse gas emissions and protection of the cell layer. thunderstorm.

In recent years, Vietnam has also experienced in implementing a number of mechanisms for exchanging and clearing carbon credits such as: Clean Development Mechanism (CDM) under the framework of the Kyoto Protocol and a number of other mechanisms. bilateral and other voluntary mechanisms. However, according to Mr. Tang The Cuong, the number of officials from regulatory agencies and businesses with professional knowledge of the carbon market is still very modest. However, according to Mr. Tang The Cuong, the number of officials from regulatory agencies and businesses with professional knowledge of the carbon market is still very modest.

To be able to deploy the carbon market in Vietnam, it is necessary to promote training activities, capacity building and communication in the coming time. As one of the most influential countries in the world, Korea intends to contribute to accelerating the global green transition.

Mr. Cho Han-Deog, Director of KOICA Vietnam spoke at the workshop. Source: monre.gov.vn

The Governments of Korea and Vietnam have laid the foundation for cooperation on climate change through the Cooperation Framework Agreement on Climate Change. The Governments of Korea and Vietnam have laid the foundation for cooperation on climate change through the Cooperation Framework Agreement on Climate Change. It is expected that in the second half of this year, the two sides will hold a joint meeting to discuss more practical details related to the implementation of this agreement.

Mr. Cho Han-Deog, Director of KOICA Vietnam, said that in the field of climate and environment in Vietnam, KOICA is supporting about 49.3 million USD for 09 projects in cooperation with the Ministry of Natural Resources and Environment of Vietnam and other organizations other related functions. Currently, there are 04 new projects that are about to be implemented with a value of about 28.9 million USD. Implementing the Government’s strategy on strengthening international cooperation to achieve sustainable development goals, KOICA is also seeking and expanding ODA funding for green projects, reducing greenhouse gas emissions to achieve the goal. net emissions is zero.

Mr. Ahn Dong Ouk, Economic Counselor, Embassy of the Republic of Korea in Vietnam spoke at the workshop. Source: monre.gov.vn

At the workshop, representatives of agencies from the Korean and Vietnamese sides exchanged and shared experiences in developing and implementing policies to reduce greenhouse gas emissions, organizing and developing exchange systems. greenhouse gas emission quotas and carbon credits. The delegates also discussed the possibility of applying Korea’s experiences in Vietnam. This will be the premise for cooperation activities between the two sides in the coming time.

Delegates attended the conference. Source: monre.gov.vn

Conference scene. Source: monre.gov.vn

Carbon pricing is considered as one of the important tools contributing to the reduction of greenhouse gas emissions, including a carbon tax; carbon market; and the mechanism of exchange and offsetting of carbon credits. To date, 46 countries and 35 territories have applied carbon pricing, with the participation of tens of thousands of corporations and large enterprises.

In 2020 alone, valuing carbon brings about 50 billion USD in revenue and especially, about 13 billion tons of CO2 can be managed, equivalent to 23% of total global emissions. Carbon pricing contributes to the achievement of national NDC targets to reduce greenhouse gas emissions. Already, 148 countries have committed to net zero emissions by mid-century, and 120 have updated the NDC to increase their commitment to reducing greenhouse gas emissions.

Korea is a country with a lot of experience in carbon market organization and development as it is one of the few countries that has established and operated an exchange system for greenhouse gas emission quotas and credits early. carbon (K-ETS). Implementation of the K-ETS System has helped Korea control 73% of the total national greenhouse gas emissions and contribute to the achievement of the goal of reducing greenhouse gas emissions