Under the framework of the Vietnam Partnership for Market Readiness project, NIRAS has joined the consortium for the Research on market-based carbon pricing approaches, investment and financial policies and instruments.

The main objectives of the project are to propose mechanisms and policies for carbon pricing, market-based investments and financial instruments to mitigate GHG emissions and develop carbon credits applicable for implementation in Vietnam. The work was organised in 3 main tasks:

(1) Task 1: Assessment of Carbon Pricing Instruments (CPIs) and recommendations for Vietnam;

(2) Task 2: Development of a mid-term action plan for the implementation of CPIs in Vietnam; and

(3) Task 3: Development of an action plan to mobilise private sector finance for Vietnam’s NDC.

The Consultant team has provided not only the recommended actions, but also the process through which these recommendations were established. A set of Carbon Pricing Instruments have been recommended for implementation in Vietnam, together with associated policy reforms, as well as how the selection was made.

Subsequently, the Consultant has developed the roadmap and action plan, and the main steps to be taken, as identified in the Roadmap. The research also include highlights on the key findings and recommendations regards with the private sector finance mobilization for Vietnam’s NDC.