Design, develop, and pilot a market-based instrument in the steel sector; design no-regret measures in solid waste sector with analysis of potential market-based instruments.
Key Documents & Presentations
Ministry of Natural Resource and Environment (MONRE) is responsible for amongst other climate change policies and GHG monitoring and is developing guidelines and mechanisms especially on MRV.
Vietnam has a significant portfolio of international assistance that can complement the PMR program including GHG emissions registry for key emissions sources funded by NFD/ADB.
The PMR will support Vietnam to:
- Design and pilot market instruments in the steel, solid waste, and power (EE) sectors; and
- Establish a GHG registry and MRV system.
Phase 1: 2013-2018 Establish legal frameworks and a pilot market based instruments in selected sectors/regions
- Study and propose the required legal framework to implement selected MBIs;
- Set up Institutions required to ensure the success of pilot MBIs;
- Creation and testing of institutional, technical and regulatory instruments and feed back for further refinement of MBIs.
Phase 2: 2018-2020 Establishment of a domestic carbon market instrument and connection to international market
- Broaden coverage of MBIs, ideally to achieve a comprehensive carbon pricing scheme;
- Integration with the international market.
Vietnam has set priorities for climate change mitigation in its national charter on environment, Strategic Orientation for Sustainable Development (SD), National Climate Change Strategy (NCCS) and (Draft) Green Growth Strategy (GGS).
Vietnam has ambitious laws and action programs for energy efficiency and the large-scale development of renewable energy sources. The mid to long-term objectives of these are to bring the share of renewable energy to 4.5% in 2020 and to 6.0% in 2030 and reduce average energy elasticity ratio of 1.5 by 2015 and 1 by 2020. [Power Master plan VII].
Vietnam is developing a Green Growth Strategy with following targets:
- To reduce energy consumption per unit of GDP by 2.5-3%per year to 2020 and reduce GHG emissions relative to its business-as-usual (BAU) scenario by 2-3 % per year from 2020 to 2030.
- To reduce GHG emissions in the energy sector by 10% -15% by 2020 relative to 2010 level.
NTP-RCC/SP-RCC 2008-2015: National Target Program to Respond to Climate Change and the Support Program to Respond to Climate Change
- Implemented through action plans by ministries and localities and coordinated by MONRE
Regulations related to market based mechanisms
- CDM (GoV decision No 130/2007/QD-TTg, dated 02 Aug 2007 )
- PES is legalized (MARD Decree No. 99 on the Policy for Payment for Forest Environmental Services /2010).
National Forest Development Strategy 2006-2020
- Increase forest cover to 42% of land surface
- Improve quality of forest through reforestation/aforestation programs
Energy efficiency law and NTP (No. 50/2010/QH12)
- Expected energy saving from 5% to 8% in period 2011 - 2015 (BAU).
- VII Power master Plan (GoV decision No. 1208/QD-TTg, dated 21 Jul 2011 on approval of national electricity development planning period 2011-2030)
Priorities in renewable energy (RE) development:
Increase of RE to 4.5% and 6.0% in 2020 and 2030, respectively
- Wind power share: 0.7% in 2020, and 2.4% in 2030
- Biomass electricity: 0.6 % in 2020, and 1.1% in 2030
- Hydro Power plants: doubling of capacity (17,400 MW) in 2020
- Nuclear power: 10.1% in 2030
- Decrease of energy elasticity from 1.5 in 2015 to 1 in 2020
Ministry of Natural Resources and Environment of Viet Nam (MONRE) is tasked to develop an assignment on management of GHG emission and carbon credit trading to international markets focusing on:
- Review and formulate the national policy and institution for management of GHG emission and carbon credit trading to international markets;
- Develop a National GHG inventory system and emission baseline scenario;
- Develop methodologies for calculation of total GHG emission reduction;
- Enhance Carbon market awareness and capacity building.
- Review of the project to strengthen capacity to respond to climate change in Vietnam(September 23, 2013)
Institute of Meteorology, Hydrology and Environment organized a review conference on ‘Strengthening the national capacity to respond to climate change in Vietnam with a view to mitigating the impacts and the control of greenhouse gas emissions’ (Capacity Building for Climate Change project - CBCC) in Hanoi on September 23.
- The First Meeting of Joint Commission for the Implementation of general credit mechanism (JCM) (September 20, 2013)
The Ministry of Natural Resources and Environment has organized the first meeting of Joint Commission for the implementation of general credit mechanism (JCM) in Hanoi on September 18, 2013.
More news from the Ministry of Natural Resources and Environment is available here.
All Documents & Presentations
|Resolution PA10/2014-1: Implementation Phase Funding Allocation to Vietnam||English||November 2014|
|Resolution PA3/2012-1: Allocation of PMR Preparation Phase Funding to Brazil, India, Jordan, South Africa, Vietnam||English||May 2012|
|Resolution PA2/2011-2: Confirmation ICPs and Vietnam Delivery Partner Arrangement||English||October 2011|
|Vietnam: Status of MRP (March 2014)||English|
|Vietnam: Final MRP||English|
|Vietnam: Final MRP Presentation||English|
|Vietnam: Expression of Interest Presentation||English|
|Vietnam: Expression of Interest (EoI)||English|
|Vietnam: Organizing Framework||English|
|Vietnam: Green Growth Strategy||English|
- The World Bank, Vietnam: Economics of Adaptation to Climate Change, 2010
- Ministry of Natural Resources and Environment, Climate Change, Sea Level Rise Scenarios for Vietnam, 2009
- See the Global Legislators Organization (GLOBE International), The GLOBE Climate Legislation Study-Vietnam
- CBCC-MONRE/MARD (capacity building for mitigation actions),
- SD and CP(MPI)–(climate change in the planning system),
- UN REDD and support for provincial (3)/sectoral (3) NAMA development.
- Low Carbon Growth Study
- GEF on Energy Efficiency
- Carbon Finance Program
- Low Carbon Transport Studies and Investment Program planned for Danang and HCMC
- ADB: several projects focusing on Carbon Capturing and Storage, municipal and sectoral NAMAs development (as part of NTP-RCC actions plans), HCMH-Metro rail system.
- CTF (Clean Technology Fund): Viet Nam has received a 250 mil. USD soft loan, targeting to improve energy efficiency and reduce GHG emission in power and transport sector.
- JICA: Facilitates the establishment of a GHG emission inventory system, support for NAMA development and various other capacity building activities.
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