The Government issued Resolution 235/NQ-CP approving the Implementation Agreement under Article 6 of the Paris Agreement between Viet Nam and Singapore.
According to the Resolution, the Ministry of Foreign Affairs is tasked with carrying out relevant external procedures and announcing the time the Agreement officially takes effect as prescribed.
Previously, the Implementation Agreement under Article 6 of the Paris Agreement on climate change between the Government of Viet Nam and the Government of Singapore was officially signed by both sides on September 16, 2025. The agreement establishes an important bilateral legal framework, paving the way for Vietnamese organizations and businesses to develop greenhouse gas emission reduction projects and generate international-standard carbon credits to transfer to Singapore.
A working delegation of the Singaporean Government surveys the infrastructure serving the deployment of the two countries' offshore wind power project. Photo: VGP.This cooperation is closely linked to the carbon market mechanism under Article 6 of the Paris Agreement, a core tool supporting countries in achieving their Nationally Determined Contributions (NDC) targets through international cooperation.
Specifically, the Article 6.2 mechanism of the Paris Agreement allows countries to bilaterally exchange carbon credits and greenhouse gas emission reduction outcomes to use for greenhouse gas emission reduction targets under the NDC.
The Article 6.4 mechanism of the Paris Agreement allows organizations in Paris Agreement member countries to register programs and projects according to methodologies recognized by the United Nations Framework Convention on Climate Change (UNFCCC) and issue carbon credits for programs and projects after being appraised.
Through these mechanisms, green projects such as renewable energy, afforestation, rice cultivation, and economical and efficient energy use will generate commercial carbon credits. The credits can be transferred to partner countries or businesses to offset actual emissions, both contributing to global emission reduction efforts and deducting a portion of the revenue to help vulnerable countries adapt to climate change.
In Viet Nam, Decree No. 112/2026/ND-CP on international exchange, greenhouse gas emission mitigation outcomes, and carbon credits has specifically regulated the project registration and exchange processes under Article 6.2 and Article 6.4.