On January 18, USAID INVEST kicked off its technical assistance for the Ministry of Industry and Trade (MOIT) to develop a regulatory framework needed to implement a system that permits the accurate assessment of the carbon footprint of goods and services in Vietnam. With USAID support, MOIT will gain a deeper understanding of international best practices, and the do’s and don’ts in establishing a carbon labeling system. INVEST’s research will guide MOIT with the identification of priority sectors and assess the private sector’s readiness for carbon reporting. The final product will be a set of recommendations on institutional setup and policy interventions, as well as an implementation roadmap with action plans, strategies, and budget estimates for the short, medium, and long term. USAID assistance comes at a timely moment with the recent signing of Decision No.01/2022/QĐ-TTg requiring companies in the energy, transportation, construction, industry, agriculture, and waste sectors to establish and report their greenhouse gas (GHG) inventories to relevant authorities.
USAID support will not only help to advance Vietnam’s environmental goals but will increase the private sector’s capacity to meet carbon labeling requirements for international exports, thereby expanding Vietnam’s international trade opportunities.
