VN Enabling Decarbonization

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The overall objective of this project is to establish an enabling environment for private investment in decarbonization by advancing carbon market development in Vietnam and encouraging active private sector participation. To achieve this, the project will support the development of legal and regulatory frameworks for carbon markets, with a focus on the voluntary carbon market (VCM) and Article 6 mechanisms; establish measurement, reporting, and verification (MRV) regulations for selected sectors; formulate operational rules and guidelines for a carbon exchange; introduce a carbon market participation handbook to facilitate private sector engagement; and promote adoption of these frameworks and guidance through pilot initiatives. This integrated approach is expected to mobilize private capital for low carbon solutions and enhance the financial viability of participating entities by enabling additional revenue generation from carbon credits produced by these investments.