Vietnam Launching Pilot Program for Emissions Trading Market

Vietnam has finalized a pilot program for major polluters to trade emissions allowances, a preliminary step toward a national market that’s intended to help curb the nation’s climate footprint.

Fossil fuel power plants and producers of iron, steel and cement will be covered under the initial phase, according to a report in a government newspaper. Rules around the trading of emissions allowances will come into effect on Aug. 1, and were detailed in a revised decree dated Monday.