Develop a roadmap for carbon credit exchange between Vietnam and Switzerland

On August 7, Deputy Minister of Agriculture and Environment Le Cong Thanh received and held talks with H.E. Mr. Aldo de Luca, Acting Ambassador of Switzerland to Vietnam.

The meeting aimed to discuss and work towards reaching a common understanding on the orientation of cooperation in the field of climate change, with a particular focus on promoting a carbon credit exchange mechanism between Vietnam and Switzerland.

Speaking at the meeting, Deputy Minister Le Cong Thanh welcomed the proposal for cooperation from the government and the Embassy of Switzerland in Vietnam. He affirmed that, in the coming period, the Government of Vietnam aims to develop an economy oriented toward green and sustainable growth. The participation of investors such as Switzerland, which possesses strengths in high technology and experience in the environmental sector, will make an essential contribution to supporting this process.

“We hope that Switzerland will take an interest in and expand investment in high-tech, low-emission, and environmentally friendly sectors,” Deputy Minister Thanh said.

He also emphasized that the pace of growth will require adjustments and improvements to the legal system, particularly in environmental protection. Many new legal documents, including the Law on Environmental Protection and guiding decrees on carbon credits, have been and are being revised to align with international standards on emissions management.

Vietnam is also trying to develop a domestic carbon market, which is expected to begin piloting by the end of this year. In parallel, Vietnam is reviewing and updating its Nationally Determined Contribution (NDC) Version 3.0, carefully calculating plans for emissions reduction and energy transition.

Deputy Minister Le Cong Thanh highly valued Switzerland’s plan to support Vietnam in fulfilling its global commitments on environmental protection and climate change. He emphasized that such support not only reflects Switzerland’s responsibility and proactive role in addressing global challenges but also creates a strong impetus for Vietnam to accelerate its green transition, enhance resilience to climate impacts, and integrate more deeply into international cooperation frameworks. 

Deputy Minister Thanh added: “With its proven experience and capabilities, we expect Switzerland to be an active partner of Vietnam on the green development journey.”

For his part, Mr. Aldo de Luca affirmed that the Swiss Government is ready to cooperate with Vietnam in the environmental field, particularly through the carbon credit exchange mechanism under Article 6 of the Paris Agreement on climate change. He stressed the urgent need to establish a concrete cooperation timeline between the two countries, while encouraging the active participation of the business sector as a foundation for deeper and broader collaboration in the future.

“We are impressed by Vietnam’s determination and swift actions. This is a great source of inspiration for Switzerland in promoting bilateral cooperation. The goal is to jointly open up opportunities for green investment, technology transfer, and shared benefits,” Mr. Aldo remarked.

According to Mr. Aldo, the recent organization of workshops and technical exchanges has demonstrated clear progress in the cooperation process. Both sides agreed on the need to develop a specific roadmap, to initiate negotiations as early as this September.

Deputy Minister Le Cong Thanh reaffirmed that Vietnam will thoroughly study Switzerland’s cooperation proposals and requested that Switzerland share its experience in implementing pilot projects that have been successfully carried out in other countries, such as green transportation and low-emission industries.

He also emphasized that Vietnam has actively participated in cooperation initiatives such as the Joint Crediting Mechanism (JCM) with Japan and the Just Energy Transition Partnership (JETP) with G7 countries. These serve as an important foundation for Vietnam to quickly reach an effective cooperation agreement with Switzerland, while continuing to refine the amended Law on Environmental Protection in a way that integrates the goal of developing the carbon market.