Potential in development of carbon credit market

Solar panels installed on the rooftops of a seafood processing plant in the Mekong Delta. — VNA/VNS

HANOI: Vietnam promotes building and developing a carbon credit market to utilise its great potential for carbon absorption from forest development.

Carbon credits, also known as carbon offsets, are permits that allow the owner to emit a certain amount of carbon dioxide or other greenhouse gases. One credit permits the emission of one tonne of carbon dioxide (CO2) or the equivalent in other greenhouse gases.