What are carbon credits?

Carbon credits are a type of certificate that allows individuals/organizations with negative emissions/excess sources of absorbing/removing greenhouse gases to exchange with individuals/organizations with positive emissions and in need. Offset your emissions to become Carbon Neutral. Each carbon credit is equivalent to 1 ton of CO2e (CO2 equivalent).

How many carbon markets are there in the world today?

Currently, there are two main types of carbon markets in the world:

- Mandatory carbon market: is a market where carbon trading is based on the commitments of countries in the United Nations Framework Convention on Climate Change (UNFCCC) to achieve climate reduction goals. Greenhouse. This market is mainly for projects in the clean development mechanism (CDM), sustainable development mechanism (SDM) or joint implementation (JI).

- Voluntary carbon market: based on bilateral or multilateral cooperation agreements between organizations, companies or countries. Credit purchasers engage in transactions on a voluntary basis to meet environmental, social and corporate governance (ESG) policies to reduce their carbon footprint.

What are greenhouse gas emissions?

Greenhouse gases are gas components in the atmosphere that have the ability to absorb long-wave radiation (infrared radiation) in the wavelength range of the sun reaching the Earth, from which the radiation returns, causing a warming effect. atmosphere, this effect is called the greenhouse effect, the gases that cause this effect are called greenhouse gases. Gases that cause the greenhouse effect include: water vapor, CO2, CH4, N2O, O3, CFC gases, of which CO2, CH4, N2O, CFCs are considered the main agents.

What are the benefits of carbon credits for businesses?

- Bringing new economic sources: In Vietnam, the price of 1 carbon credit is 5 USD/credit, so businesses can earn a large amount of money each year if they participate in the carbon credit market. (Excerpt from VTV News Electronic Newspaper).
- Strengthening multi-national cooperation: Currently, there are about 80 countries and territories applying or planning to apply carbon pricing tools.
- Promote forest planting and development activities: Forest carbon credit business will create a sustainable financial source to protect, restore and improve the quality of existing natural forests.
- Promote the use of clean energy and renewable energy.

What is ESG?

ESG is the abbreviation for Environmental, Social, and Governance, representing environmental, social, and governance factors:

- Environment:

Assess issues related to the business's impact on the living environment, such as greenhouse gas emissions, water and waste management, raw material supply, and impacts from climate change.

- Social:

Implement positive social strategies that can make an impact on communities and employees. Businesses with strong social strategies often attract talent and maintain good relationships with the community.

- Governance:

Strong governance plays an important role in ensuring transparency and fairness in business decisions. Businesses master management rules, minimize risks and increase trust from shareholders. Strong governance not only helps businesses increase performance but also creates trust from customers and partners.

Which fields and facilities must inventory greenhouse gases?

The Government issued Decree 06/2022/ND-CP regulating greenhouse gas emissions mitigation and ozone layer protection. In particular, in Chapter II, Section 1, Article 6 clearly stipulates the list and fields of establishments that need to inventory greenhouse gases, which are establishments with annual greenhouse gas emissions of 3,000 tons of CO2 equivalent or more. or fall into one of the following cases:

a) Thermal power plants and industrial production facilities with total annual energy consumption of 1,000 tons of oil equivalent (TOE) or more;

b) Freight transport companies with total annual fuel consumption of 1,000 TOE or more;

c) Commercial buildings with total annual energy consumption of 1,000 TOE or more;

d) Solid waste treatment facilities with annual operating capacity of 65,000 tons or more.

Which activities are encouraged to mitigate greenhouse gas emissions?

Article 33 of Decree 06/2022/ND-CP also provides encouraged activities to reduce greenhouse gas emissions and protect the ozone layer:

- Activities to reduce greenhouse gas emissions and destroy substances that cause greenhouse effects are applied with the mechanism of cooperation, exchange and carbon credit offset according to the provisions of Article 20 of Decree 06/2022/ ND-CP.

- Organizations and individuals engaged in research, application, transfer and development of technology to reduce greenhouse emissions, protect the ozone layer, and use climate-friendly substitutes are entitled to incentives under regulations of law on science and technology.

Who is Minmax Green? What services does Minmax Green provide?

- Minmax Green was born with the desire to bring solutions to help businesses develop sustainably and bring Vietnamese brands to the world with respect and high responsibility to the environment, community and society.
- Minmax Green provides the following services:
       + Consulting on green projects
       + Greenhouse gas (GHG) emission consulting includes: Greenhouse gas emission report, Carbon emission reduction consulting, Carbon footprint for products, Carbon neutralization process
       + Sustainable development report
       + Carbon Footprint & Greenhouse Gas Emissions Training

- Understand the needs of businesses regarding "problems" related to consulting, training, and building sustainable development projects through reducing greenhouse gas/carbon emissions. Therefore, we have been and will be the "effective right hand" to optimally support businesses in the coming time.

- Organizations and individuals implementing technology conversion to reduce greenhouse gas emissions and protect the ozone layer; Providing services for collection and treatment of controlled substances is entitled to incentives and support according to the provisions of Article 141 of the Law on Environmental Protection and relevant guiding documents.