VIETNAM'S LEGAL REGULATIONS ON GREENHOUSE GAS MANAGEMENT

In the context of global warming, governments worldwide are urging their citizens to rigorously implement environmental protection measures and reduce CO2 emissions. Vietnam has been actively participating in this effort, evidenced by earning hundreds of millions of USD from selling carbon credits.

To achieve this, Vietnam has established a robust legal framework. Specifically, the Government issued Decree No. 06/2022/ND-CP, effective from January 7, 2022, which regulates the reduction of greenhouse gas emissions and the protection of the ozone layer. This decree applies to almost all sectors, including Energy, Transportation, Industry, and Agriculture & Forestry, among others. Additionally, Decree No. 45/2022/ND-CP, effective from July 7, 2022, prescribes administrative penalties in the environmental sector. Violations of regulations on reducing greenhouse gas emissions can result in fines amounting to tens of millions of VND, along with strict remedial measures such as mandatory greenhouse gas inventory reports, emission reduction reports for delayed or underreported years, and the responsibility to cover any arising costs due to non-compliance.

Therefore, managing greenhouse gases is not only crucial for sustainable development but also a legal obligation.

ISO 14064 STANDARD – GREENHOUSE GAS MANAGEMENT FOR ORGANIZATIONS

Recently, "Carbon Footprinting" has been widely discussed in the media as the most recognized method for organizations to track and reduce their carbon emissions. Through monitoring, reporting, and verification activities, organizations can obtain accurate data to support changes and minimize impacts, thereby achieving their greenhouse gas management and reduction goals.

ISO 14064 outlines the necessary principles and requirements for quantifying, reporting, and removing greenhouse gas emissions. It covers requirements from design, development, management, reporting, to verification. Verification enables organizations to proactively demonstrate the calculation and measurement of their Carbon Footprint through accurate public reports from reputable entities, conveying a strong commitment message.

The ISO 14064 standard includes:

• ISO 14064-1: Documents an organization’s greenhouse gas emissions in a structured manner and outlines specific activities to reduce carbon emissions. It provides a framework for calculating and verifying greenhouse gases, serving as a basis for rigorous inventory reporting. This allows organizations to clearly communicate their climate protection efforts and achievements.

• ISO 14064-2: Documents greenhouse gas removal or emission reduction at the project level.

• ISO 14064-3: Establishes the basis for verifying CO2 calculations. Upon successful verification, this standard is used as the basis for certification of compliance with emission balancing requirements.

Companies and organizations can record their emissions by applying all three specifications. This facilitates the implementation and development of greenhouse gas emission projects.