The United Nations Development Programme (UNDP), in collaboration with Selex Motor, a leading Viet Nam ese electric motorbike manufacturer, has launched a pilot carbon credit project for electric motorbikes. The project has successfully undergone international validation under the Gold Standard. This is the world's first carbon credit initiative for two-wheeled electric vehicles.
The project represents a pioneering effort to explore the potential of leveraging carbon credits to support Viet Nam 's transition to low-emission transportation. It aims to contribute to reducing greenhouse gas (GHG) emissions amidst projections of significant increases in emissions from the transportation sector in the coming years without adequate mitigation measures.
According to Viet Nam 's 2016 GHG inventory, the transportation sector emitted approximately 35 million tons of CO2 equivalent, accounting for 11% of the nation's total emissions. Without effective interventions, this figure could rise to 88 million tons of CO2 equivalent by 2030.
In this context, the Electric Motorbike Carbon Credit Project is being implemented in Viet Nam with a scale of 90,000 vehicles, aiming to reduce emissions by approximately 43,000 tons of CO2 annually from 2024 to 2028.
As part of the project, UNDP supports Viet Nam in establishing a framework for carbon credit development for electric vehicles, promoting low-emission transportation through climate finance, building capacity, raising community awareness, and proposing sustainable transportation solutions. These outcomes lay the groundwork for further future research and expansion of low-emission transport solutions.
UNDP remains committed to supporting Viet Nam in achieving its national climate goals, mainly the net-zero emissions target by 2050.