Hanoi, May 3 -- Prime Minister Pham Minh Chinh emphasised the urgent need to develop a carbon market and carbon credit management mechanisms in his recently-issued directive.

The work is to reduce greenhouse gas emissions at a reasonable cost, and to promote low-emission technologies, contributing to raising the competitiveness of businesses and the income of people participating in emission reduction and forest projects, the leader said in the document on strengthening carbon credit management to implement the Nationally Determined Contributions (NDC), adding that to fulfill its commitments to cutting emissions to net zero by 2050 announced at the 26th UN Climate Change Conference (COP 26), Vietnam has updated the NDC and materialised o...