Vietnam and Switzerland agreed to accelerate talks on carbon credit trading, aiming to finalize a cooperation roadmap and open negotiations by September.
On August 7, Deputy Minister of Agriculture and Environment Le Cong Thanh received Aldo de Luca, Chargé d’Affaires of Switzerland in Vietnam, to discuss cooperation on climate change, with a focus on advancing mechanisms for carbon credit trading.
Deputy Minister Thanh welcomed Switzerland’s proposal, emphasizing that Vietnam is pursuing green and sustainable growth. He noted that investors from Switzerland, with strengths in high technology and environmental expertise, could play an important role in this transition. “We hope Switzerland will expand investment in high-tech, low-emission and environmentally friendly sectors,” he said.
Deputy Minister Le Cong Thanh held a bilateral meeting with Mr. Aldo de Luca, Chargé d’Affaires of Switzerland in Vietnam.He also stressed that Vietnam’s rapid growth requires continuous legal reforms, especially in environmental governance. New legislation, including the revised Law on Environmental Protection and decrees on carbon credits, is being aligned with international standards. Vietnam is also building a domestic carbon market, slated for pilot implementation later this year, while updating its Nationally Determined Contributions (NDC 3.0) with detailed emission reduction and energy transition plans.
Aldo de Luca reaffirmed Switzerland’s readiness to cooperate under Article 6 of the Paris Agreement on climate change. He underlined the need for a clear timeline and encouraged private sector engagement as a foundation for deeper collaboration. “We are impressed by Vietnam’s determination and swift action. This is a strong source of inspiration for Switzerland to expand bilateral cooperation in green investment, technology transfer, and shared benefits,” he said.
Both sides acknowledged progress through recent workshops and technical exchanges, agreeing on the need to establish a concrete roadmap ahead of formal negotiations in September.
Deputy Minister Thanh welcomed Switzerland’s experience in piloting projects in areas such as green transport and low-emission industries, suggesting that these could provide valuable models for Vietnam. He also pointed out that Vietnam is already engaged in initiatives like the Joint Crediting Mechanism (JCM) with Japan and the Just Energy Transition Partnership (JETP) with G7 countries, laying a strong foundation for effective cooperation with Switzerland while Vietnam continues refining its environmental legislation and carbon market framework.