Carbon market: Experience of global oil and gas enterprises and orientation for the Vietnam Oil and Gas Group
Abstract
In recent years, to solve problems related to climate change, the United Nations (UN) has determined the exchange of carbon credits as one of the most important tools in mitigating greenhouse gas emissions. Through the carbon market, global oil and gas companies can effectively and economically reduce greenhouse gas emissions. Vietnam also has a strategic framework and targets to promote emissions reduction in different sectors. In the coming years, carbon pricing will play an important role in incentivizing mitigation in high-emissions sectors, helping Vietnam achieve its net zero emissions target by 2050. However, the carbon market is a new field, and domestic enterprises in general and the Vietnam Oil and Gas Group (Petrovietnam) in particular do not have much experience participating in carbon credit trading.
This article analyzes the carbon credit trading experiences of leading oil and gas enterprises worldwide, thereby proposing an orientation for Petrovietnam’s participation in the carbon market.
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