Vietnam’s Tech Champion Partners with Japan’s Carbon EX to Foster the Carbon Market

Mar 2024

Vietnam’s leading ICT company, FPT Group, has signed an MoU with Carbon EX, a Japanese platform for trading carbon credits, to foster Vietnam’s carbon market and work on carbon credit management and operational services for enterprises. The partnership aims to establish internationally standardized carbon credits and provide solutions for industrial green transformation. FPT intends to liaise with industries and organizations in Vietnam, offering technological applications for green transformation projects.

In recent years, carbon credits have gained increasing attention in Vietnam. It has approximately 300 projects engaged in carbon credit trading or offset implementation, yielding a total value of USD 60 million and progressing steadily towards the goal of achieving net-zero carbon emissions by 2050. Additionally, as carbon credit trading markets evolve worldwide, Vietnam is recognized for its potential to offer a substantial number of carbon credits. Statistics show that the carbon credits in Vietnam’s agriculture sector reach an equivalent amount of 57 million tons of CO2 emissions annually.

Vietnam’s carbon credit exchange is projected to commence operations in 2028, attracting numerous leading companies to participate in the market. The CT Group, which has expanded its business from real estate, retail, and construction into the high-tech industry, has announced the establishment of the Carbon Credit Trading Platform ASEAN (CCTPA) and signed an MOU with ACX (AirCarbon Exchange) to jointly develop the Vietnamese market in 2023.

(Source: Reccessary)

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