The Sovia Vietnam carbon credit exchange is scheduled to begin operations by the end of September, providing a platform for carbon credit trading between Vietnam and South Korea, state media reported.
This information was unveiled at the workshop of the Sovia South Korea-Vietnam Carbon Credit Trading and Distribution Service Center, held in Danang City on September 22.
The Sovia exchange will connect carbon credit suppliers with intermediaries, buyers, and consumers, offering oversight to ensure legitimacy in trading. Sovia will also leverage global standard technology, helping recyclers of end products meet carbon neutrality goals and maintain a sustainable trading environment.
Chairman of Sovia Korea Kim Sang-Yong emphasized that the new center will foster carbon credit trading in Vietnam and between the two countries.
The initiative will also support Vietnam’s emission reduction goals and boost tourism between Vietnam and South Korea by utilizing Muan International Airport in South Korea, he added.(Cong Thuong [1], Nong Thon Viet [2], Bao Tai Nguyen Moi Truong [3])