Carbon market: Experience of global oil and gas enterprises and orientation for the Vietnam Oil and Gas Group

  • Thi Hanh Pham Institute of Science and Technology for Energy and Environment, Vietnam Academy of Science and Technology
  • Hoai Nam Nguyen Institute of Science and Technology for Energy and Environment, Vietnam Academy of Science and Technology
  • Minh Phap Vu Institute of Science and Technology for Energy and Environment, Vietnam Academy of Science and Technology
  • Hong Anh Nguyen Institute of Science and Technology for Energy and Environment, Vietnam Academy of Science and Technology
  • Van Duy Pham Institute of Science and Technology for Energy and Environment, Vietnam Academy of Science and Technology
  • Quang Ninh Nguyen Institute of Science and Technology for Energy and Environment, Vietnam Academy of Science and Technology
  • Thi Thu Huong Nguyen Institute of Science and Technology for Energy and Environment, Vietnam Academy of Science and Technology
  • Dang Khoa Nguyen Vietnam Petroleum Institute
Keywords: Internal emission trading system, oil and gas, greenhouse gas, CO2 emissions, carbon market

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.

References

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Các mốc thời gian về quá trình tham gia thị trường carbon của Shell.
Published
2024-07-18
How to Cite
Pham, T. H., Nguyen, H. N., Vu, M. P., Nguyen, H. A., Pham, V. D., Nguyen, Q. N., Nguyen, T. T. H., & Nguyen, D. K. (2024). Carbon market: Experience of global oil and gas enterprises and orientation for the Vietnam Oil and Gas Group. Petrovietnam Journal, (2), 51-59. https://doi.org/10.47800/PVSI.2024.02-05

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