Ho Chi Minh City will pilot the implementation of a carbon credit transaction mechanism from August 1, 2023
The city budget enjoys 100%
Accordingly, the piloting of a financial mechanism to implement measures to reduce greenhouse gas emissions under carbon credit exchange and offset mechanisms is regulated as follows:
Carbon credits formed from programs and projects under the mechanism of exchange and clearing of investment carbon credits from the capital of the City budget are traded with domestic and international investors. economic. The City People’s Committee coordinates with the Ministries of Industry and Trade, Transport, Agriculture and Rural Development, Construction, Natural Resources, and Environment to determine the contribution rate in terms of emission reduction and absorption. greenhouse gas emissions in the City for the national target of reducing greenhouse gas emissions before trading in carbon credits.
The City People’s Committee promulgates the order, procedures, and decisions on investor selection. Revenue from carbon credit transactions is 100% of the City’s budget revenue; These revenues are not used to determine the percentage (%) of the revenues divided between the central budget and the City budget. The City People’s Council decides to use the revenue from carbon credit transactions for programs and projects to respond to climate change, and develop a green economy, digital economy, and circular economy on the Internet. City area.
Using rooftops to install solar power systems
The City People’s Committee shall decide on the use of roofs ensuring technical conditions of the headquarters of administrative agencies, public non-business units, offices of agencies, and units identified as assets. in the city to install a solar power system to provide electricity for the operation of the headquarters. The remaining electricity due to not being used up must comply with the provisions of the law on electricity.
The City People’s Committee organizes the installation and management of the solar power system to ensure the appropriate elements in terms of aesthetics, architecture, and regulations of the law on the environment.
This Resolution takes effect from August 1, 2023.