Vietnam to use carbon-pricing tools in effort to cut greenhouse gas emissions

Vietnam, as one of the most vulnerable countries to climate change, is set to develop a roadmap to implement market-based carbon pricing tools as part of its effort to reduce greenhouse gas (GHG) emissions.

Nguyen Tuan Quang, deputy director of the Climate Change Department under the Ministry of Natural Resources and Environment, said: “Climate change has negatively affected the country’s efforts to reduce poverty and develop sustainably.”

The most vulnerable sectors include water resources, agriculture, food security, and public health, mostly in the deltas and coastal areas.

Vietnam has shown a strong commitment to green development and environmental protection over the past decade. The country became a member of the United Nations Framework Convention on Climate Change (UNFCCC) in 1994, and ratified the Kyoto Protocol in 2002, he said.

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