Deputy Minister Le Cong Thanh meets Mr. Aldo de Luca, Deputy Head of Mission of the Swiss Embassy in Viet Nam, on August 7 in Ha Noi to discuss a roadmap for carbon credit cooperation ahead of formal negotiations in September

Vietnam reaffirms commitment to green and sustainable development

On August 7 in Ha Noi, Deputy Minister Le Cong Thanh received and held talks with Mr. Aldo de Luca, Deputy Head of Mission, Counsellor of the Swiss Embassy in Vietnam. The meeting outlined important orientations for promoting bilateral cooperation in climate change response, particularly the carbon credit exchange mechanism under Article 6 of the Paris Agreement.

In his remarks, Deputy Minister Le Cong Thanh emphasized that linking economic growth with green and sustainable development is a consistent objective of the Government of Vietnam in the coming period. He stressed that developing a domestic carbon market is a central task, noting that Vietnam is preparing to launch a pilot scheme by the end of this year. This step is seen as a strategic move to realize emission reduction targets in line with international climate commitments.

Deputy Minister Le Cong Thanh highlights Viet Nam’s commitment to green growth, stressing the development of a domestic carbon market with a pilot scheme set to launch by the end of this year

The Deputy Minister also underscored that rapid economic growth requires continual improvements to the legal framework, especially in the environmental sector. Vietnam has been revising key legal instruments such as the 2020 Law on Environmental Protection and decrees on carbon credits, with the aim of aligning more closely with international standards. These adjustments will provide a solid legal foundation for implementing cooperation with international partners, including Switzerland.

Acknowledging Switzerland’s strengths in advanced technology and environmental expertise, Deputy Minister Le Cong Thanh expressed hope that Switzerland would invest in low-emission, environmentally friendly technologies, as well as share experience from successful pilot projects in other countries, such as green transport and low-emission industries.

“With proven experience and capacity, we expect Switzerland to be an active partner accompanying Vietnam on its green journey,” he stressed.

Switzerland ready to support Vietnam in carbon credit cooperation

For his part, Mr. Aldo de Luca affirmed that the Swiss Government stands ready to cooperate comprehensively with Vietnam in environmental matters, particularly through carbon credit exchange mechanisms. He highlighted the need to establish a clear timeline to bring cooperation swiftly into practice. Encouraging business sector participation, he noted, is also a key foundation for expanding cooperation in green investment and technology transfer.

“We are impressed by Vietnam’s determination and swift actions. This is an inspiration for Switzerland to advance bilateral cooperation, opening up shared opportunities for investment and mutual benefit,” he said.

Viet Nam and Switzerland look forward to a bilateral agreement on carbon markets, building on Viet Nam’s experience from initiatives such as JCM with Japan and JETP with the G7

He further underlined that Vietnam–Switzerland cooperation on environmental protection and carbon credits forms part of the high-level declarations made by the two countries’ leaders, reflecting a shared determination to realize global climate commitments. Technical workshops and exchanges held in recent months, he added, demonstrate clear progress in this process.

Both sides agreed to work toward a concrete roadmap, with a view to formal negotiations in September. This is considered a necessary step toward signing a bilateral agreement, not only to expand cooperation but also to lay the groundwork for implementing joint commitments at the upcoming COP30.

According to Mr. de Luca, one of Switzerland’s priorities is to encourage private sector participation in carbon credit transactions. He also affirmed Switzerland’s readiness to provide resources to support pilot projects in Vietnam, thereby contributing to a just energy transition and the development of the domestic carbon market.

Toward a concrete and effective cooperation roadmap

Both Vietnam and Switzerland share high expectations for an early conclusion of a bilateral agreement on environmental cooperation and carbon markets. Such an agreement would go beyond technical matters, representing the strategic vision of both countries in addressing climate change and advancing sustainable development.

Vietnam has actively engaged in multiple international cooperation initiatives, including the Joint Crediting Mechanism (JCM) with Japan and the Just Energy Transition Partnership (JETP) with G7 countries. These frameworks have provided valuable experience and create favorable conditions for effective collaboration with Switzerland in the near future.

Deputy Minister Le Cong Thanh affirmed that the Government of Vietnam always welcomes and facilitates green investors. He also stressed that regulatory bodies have been tasked with accelerating pilot projects, thereby paving the way for the carbon market to operate on a stable basis.

In the broader context of global efforts to implement the Paris Agreement and in the lead-up to COP30, the acceleration of Vietnam–Switzerland negotiations on carbon credit cooperation carries significance beyond the bilateral scope. It demonstrates both countries’ international responsibility and underscores Vietnam’s proactive role in shaping a green, low-emission economy.

If successfully agreed and implemented, the Vietnam–Switzerland cooperation roadmap will not only generate bilateral benefits but also contribute to global climate action, setting a precedent for new international cooperation models in carbon management and sustainable development.

Minh Thao