Evidence from China and Vietnam as Key Emerging Economies
Leuven Global Governance series
Edited by Hans Bruyninckx, Qi Ye, Nguyen Quang Thuan and David Belis
Chapter 8: The Vietnamese regulatory framework for the Clean Development Mechanism
The world is attempting to cope with the challenge of climate change resulting from high and increasing global greenhouse gas (GHG) emissions. This is a situation which has, for the past two decades, received particular attention from both developed and developing countries at national, regional (for example ASEAN, the Association of Southeast Asian Nations) and international level. As a developing country, Vietnam’s main objective has been to achieve rapid economic development and industrialization, as part of the ongoing modernization and integration with the world economy. It is also one of the developing countries that aspires to be among the most active participants in climate adaptation and climate mitigation activities worldwide. Vietnam signed the United Nations Framework Convention on Climate Change (UNFCCC) and the Kyoto Protocol on 11 June 1992 and 3 December 1998 respectively, demonstrating its willingness to embrace early international action (UNFCCC 2012c, 2012d). In that context, this chapter presents a brief analysis of Vietnam’s experience with the Kyoto Protocol’s Clean Development Mechanism (CDM) and the regulatory framework for the mechanism in Vietnam.
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