On 7 April 2026 key stakeholders from government agencies, investment funds, climate-tech companies, and development organisations gathered in Hanoi for a closed forum reviewing Vietnam’s carbon market. Hosted by Aither Impact with the support from AQUILA, the workshop focused on how Vietnam’s carbon market can transition from policy frameworks to active implementation. Rikolto was invited to present its experience in bridging the gap between farmers and carbon markets.
The primary takeaway from the forum was that Vietnam’s "preparation phase" is nearing completion. Across forestry, agriculture, energy, waste, the technical solutions already exist. Priority has now shifted toward the market infrastructure: data systems, registry protocols and transaction pathways required to transform verified climate action into a tradable asset. During its session Nguyen Tuan Anh, Rice Project Manager in Vietnam at Rikolto, emphasised that, although the agricultural sector is already delivering measurable mitigation at scale, challenges lie in translating these verified results into structured carbon credit issuance and in fostering market access mechanisms.
Rikolto shared insights gained from its long-term work on sustainable rice systems in the Mekong Delta as well as the initial outcomes of implementing the project funded by the Livelihoods Carbon Fund (LCF). Designed to engage around 8,000 farmers across 30 cooperatives and 14,400-14,500 hectares, the project has achieved measured emission reductions of 3.43 tCO₂e per hectare per crop. The system is supported by the Gold Standard methodology and a satellite-based MRV (CarbonFarm). Although the technical aspects are robust, the system is still in the pre-issuance phase and carbon monetisation has yet to be realised.
Drawing on its experience of setting up a carbon credit project, Rikolto identified three pillars on which to base a pilot scheme with the potential to be scaled up:
During the panel discussion Le Tuan, Rice Programme Director in Southeast Asia and Rice Programme Manager in Vietnam at Rikolto, echoed his colleague Tuan Anh, stating:
“The barrier is not only farmer capacity or methodology, but also system readiness, especially in terms of issuance pathways and market infrastructure.”
He noted that while MRV systems, farmer organisation and methodologies are increasingly mature, the absence of clear registry systems and an easy way for investors to find and buy these credits is preventing the market from developing.
“It’s like a missing layer of market plumbing rather than a technical constraint.”
The discussions highlighted the growing role of the Emissions Trading System (ETS) pilot, the development of national standards under the Vietnam Forest Certification Scheme (VFCS), and the need to align domestic systems with international carbon market requirements. Together, these elements form the regulatory backbone of Vietnam’s carbon market, but their effectiveness will depend on implementation. While the ETS can help generate market demand and the VFCS contributes to standardisation and credibility, key gaps persist in the infrastructure required to connect supply and demand—particularly in authorisation procedures, interoperable registry systems, and frameworks for international recognition.
Overall, the dialogue pointed to a shared understanding among participants: Vietnam’s carbon market potential is no longer limited by a lack of mitigation solutions, but by the systems needed to convert verified emissions reductions into credible, tradable carbon assets.
Building on this, Rikolto reaffirmed its commitment to work with partners to strengthen the missing link between farm-level climate action and carbon markets - by improving MRV–market integration, supporting the transition from verified data to issuance readiness, and ensuring that smallholder farmers are not only contributing to climate mitigation, but are also able to benefit from emerging carbon finance opportunities.
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