Greenhouse Gas Inventory Advisory & Implementation
Fulfill Vietnamese legal obligations and international standard requirements at the same time — with a single, unified inventory process.
1. The greenhouse gas inventory — the first step on the low-carbon journey
You cannot manage what you cannot measure — that is the immutable principle of emissions management. In recent years, Vietnamese businesses have suddenly faced a wave of new demands: regulators requiring periodic emissions reports, international customers asking “what is the carbon footprint of this shipment?”, banks demanding emissions data as a condition for disbursing green credit, and investors rating companies as “good” or “bad” partly on the basis of their emissions reporting.
All of those questions have only one foundational answer: a reliable greenhouse gas inventory report that meets the standards.
The problem is that most Vietnamese businesses do not yet have a structured system for tracking fuel, electricity and refrigerant consumption. When a report is needed, the HSE team has to go around “begging” for figures from every department, each in a different format, with no supporting documentation for reconciliation — resulting in reports being rejected or deemed unreliable.
Carbon Credit Vietnam’s Greenhouse Gas Inventory Advisory & Implementation service under Decree 119/2025 + ISO 14064-1:2018 solves this problem at its root — from designing the data collection system to producing a dual-standard report ready for both domestic and international verification.
2. Why do businesses need to conduct a greenhouse gas inventory?
GHG inventories are no longer a “nice-to-have” but have become a core obligation, with at least five clear drivers:
Compliance with Vietnamese law
Decree 119/2025/ND-CP and Decision 13/2024/QD-TTg require 2,166 facilities across six sectors to conduct GHG inventories using the prescribed templates and submit them to the Provincial People’s Committee and the relevant line Ministry. Non-compliance means the risk of administrative penalties and reputational damage.
Readiness for CBAM (the EU’s Carbon Border Adjustment Mechanism)
Which officially starts levying charges from 01/01/2026 for steel, cement, aluminum, fertilizers, hydrogen and electricity. Businesses without product-level emissions data will face the maximum charge or be denied customs clearance.
Meeting global supply chain requirements
Apple, Samsung, Nike, Uniqlo, IKEA… all have Net Zero commitments and require their suppliers to disclose emissions under ISO 14064-1 or the GHG Protocol. No report = no orders.
Access to green credit and green bonds
Vietnamese banks and international funds alike require GHG inventory reports as part of credit dossiers. A report that meets the standards helps businesses reduce their cost of capital by 0.5–1% compared with the market average.
The starting point for the emissions reduction roadmap and carbon market participation
Only once emissions have been measured can a business set reduction targets under SBTi, design emission reduction projects, and issue carbon credits on Vietnam’s pilot market (officially operating from 2029).
3. The new legal framework — Decree 119/2025/ND-CP and the compliance roadmap
On 09/6/2025, the Government issued Decree 119/2025/ND-CP amending and supplementing Decree 06/2022/ND-CP, effective from 01/8/2025. This is a landmark legal instrument, fully establishing four core groups of mechanisms: (1) GHG Inventory Reporting; (2) Emission allowance allocation and carbon credit trading; (3) GHG Emission Mitigation Plans; (4) GHG Emission Mitigation Reports.
Four core changes under Decree 119/2025/ND-CP
Key milestones
4. The role of ISO 14064-1:2018 — the exporter’s “carbon passport”
If Decree 119/2025/ND-CP is the domestic “travel permit”, then ISO 14064-1:2018 is the “carbon passport” when a business steps into international markets. It is the international standard specifying principles and requirements at the organizational level for quantifying and reporting greenhouse gas emissions and removals. The 2018 version has been harmonized with the GHG Protocol Corporate Standard and expands the reporting scope in greater detail than the 2006 version.
ISO 14064-1:2018 divides emissions into six Categories: Category 1 — direct emissions (equivalent to Scope 1); Category 2 — indirect emissions from imported energy (Scope 2); Categories 3–6 — other indirect emissions across the value chain (Scope 3). A report that meets ISO 14064-1:2018 can be independently verified under ISO 14064-3:2019, forming a certification recognized by multinational corporations, voluntary credit registries (Verra, Gold Standard) and the EU’s CBAM alike.
5. Who this service applies to
Mandatory inventory under Vietnamese law
- ~1,787 facilities in the Industry and Trade sector (thermal power, steel production, cement, chemicals, paper…) with emissions of ≥3,000 tCO₂e/year.
- 229 facilities in the Construction sector (commercial buildings, large-scale works) with energy consumption of ≥1,000 TOE/year.
- 75 facilities in the Transport sectorwith energy consumption of ≥1,000 TOE/year.
- ~75 facilities in the Natural Resources & Environment sector(waste treatment) with capacity of ≥65,000 tonnes/year.
Strategically encouraged adoption
- Businesses exporting to the EU in CBAM sectors (steel, cement, aluminum, fertilizers, hydrogen, electricity) — required to have product-level emissions data from 2026.
- Businesses within the supply chains of multinational corporations with Net Zero commitments (Tier 1, Tier 2 suppliers).
- Listed companies needing emissions data for disclosure in Annual Reports and Sustainability Reports under GRI 305.
- Businesses raising green capital - green bonds, green credit, international ESG funds.
- Businesses with Net Zero or SBTi targets - an inventory is the prerequisite for establishing a base year and emission reduction targets.
Why choose Carbon Credit Vietnam?
The Carbon Credit Vietnam team brings together experts holding international credentials in GHG inventory and verification — ISO 14064 Lead Verifier, GHG Inventory Quantifier — combined with a Finance – Audit background (CPA, MBA, CFA) that ensures emissions data achieves a level of rigor equivalent to financial data. Carbon Credit Vietnam is also an Official Member of the GRI Community, ensuring that inventory reports connect seamlessly with Sustainability Reports under GRI 305 (Emissions) and GRI 102 (Climate Change 2025).
Our distinctive advantage is “one report, two objectives”: a single data collection system simultaneously serves both the report submitted to the Provincial People’s Committee/Ministry of Natural Resources and Environment under Decree 119/2025 and an English-language GHG Inventory Report meeting ISO 14064-1:2018, ready for international verification. This saves businesses cost, avoids duplicated work, and ensures data consistency.
6. Carbon Credit Vietnam’s 6-step service process
Every GHG inventory project at Carbon Credit Vietnam is delivered through a six-step process, closely following the requirements of ISO 14064-1:2018 and integrating the Vietnamese reporting templates:
Step 1 — Organizational Boundary Survey & Inventory Scope Definition
Our team of experts works with the Executive Board and departments to define the organizational boundary using the control approach or equity share method under ISO 14064-1, compile the list of facilities/units within the inventory scope, select the base year, and determine the specific legal obligations under Decision 13/2024/QD-TTg. The result is a scope description document — the foundation for every subsequent step.
Step 2 — Emission Source Identification & Data Collection System Design
We compile a complete inventory of emission sources across four types: stationary combustion (boilers, kilns, generators), mobile combustion (the company fleet), process emissions (cement, steel, chemicals production), and fugitive emissions (R-410A, R-134a refrigerants, SF₆). At the same time, we design a set of standardized data collection templates for each department — clearly specifying units of measurement, responsible persons, update frequency and the sources of original documentation.
Step 3 — Activity Data Collection & Quality Control
Carbon Credit Vietnam works alongside the departments (HSE, Engineering, Procurement, Transport, Administration, Finance) throughout the field data collection phase. All figures on fuel consumption, electricity, refrigerant top-ups and process output are cross-checked against original documentation (invoices, meters, warehouse receipt records). Our independent QC unit randomly reviews 10–15% of the data to detect errors before it enters the calculations.
Step 4 — Emissions Calculation & Uncertainty Assessment
We apply the standard formula (Emissions = Activity × Emission Factor × GWP) with factors selected according to a priority hierarchy: direct measurement at the facility, national factors in Decision 2626/QD-BTNMT, the grid emission factor per Official Letter 1726/BDKH-PTCBT (0.6592 tCO₂/MWh for 2023), and IPCC AR6 (2021) factors where needed. Scope 2 is calculated using both the location-based and market-based methods. Uncertainty is assessed using the IPCC Tier 1 or Tier 2 method depending on the granularity of the data.
Step 5 — Dual-Standard Report Preparation & Quality Assurance
We draft the report in parallel under two templates: the report per the Appendix to Decree 06/2022/ND-CP (as amended by Decree 119/2025) for submission to the Provincial People’s Committee and the line Ministry; and an English-language GHG Inventory Report structured according to ISO 14064-1:2018, including methodology, organizational/operational boundary, base year recalculation policy, uncertainty assessment and performance tracking. Every report goes through two rounds of internal peer review before handover.
Step 6 — Third-Party Verification Support & Emission Reduction Recommendations
We prepare the verification dossier — original documentation, the emission factors used, the audit trail — and coordinate directly with the verifier (Bureau Veritas, SGS, TÜV SÜD, DEKRA…) under ISO 14064-3:2019 to achieve limited or reasonable assurance certification. Finally, we deliver a Carbon Reduction Roadmap — identifying the 5–10 lowest-cost/highest-benefit emission reduction opportunities, forming the foundation for the 2026–2030 Mitigation Plan and the Net Zero roadmap under SBTi.
7. Deliverables
GHG Inventory Report per the template prescribed by Decree 06/2022/ND-CP (as amended by Decree 119/2025), ready for submission to the Provincial People’s Committee and the line Ministry.
English-language GHG Inventory Report structured according to ISO 14064-1:2018 — complete with methodology, boundary description, and uncertainty assessment.
Detailed emissions calculation workbook (Excel workbook) with transparent formulas, traceable to every line of activity data.
Verification dossier — original documentation, the emission factors used, and a complete audit trail.
Carbon Reduction Roadmap — a report analyzing the results and recommending the 5–10 emission reduction opportunities with the best cost/benefit profile.
Support in responding to questions from the third-party verifier and the appraisal authorities throughout the verification process.
A 1–2 day knowledge-transfer training course for the internal team to maintain the inventory system year after year.
8. Frequently asked questions
It is not legally mandatory at present. However, if your company exports to the EU (particularly in steel, cement, aluminum, fertilizers, hydrogen), sits within the supply chain of a multinational corporation, or plans to raise green capital, a voluntary inventory remains essential. The list of mandatory facilities will continue to be expanded in upcoming review cycles.
For first-time companies, the typical roadmap runs from 2 to 4 months, depending on the scale and readiness of the data systems. From the second cycle onwards, the timeline shortens to 1–2 months thanks to the standardized system already in place.
Decree 119/2025/ND-CP currently focuses on Scope 1 and Scope 2. However, ISO 14064-1:2018, the EU’s CBAM and SBTi all require Scope 3. We recommend that businesses roll out Scope 3 gradually, starting with the highest-weight categories (purchased goods & services, upstream transportation, end-of-life).
Reports submitted to Vietnamese regulators must use the factors in Decision 2626/QD-BTNMT and the grid emission factor per the Official Letter of the Department of Climate Change. Reports serving international markets additionally use IPCC AR6, IEA, DEFRA, EPA factors depending on the end user — Carbon Credit Vietnam maintains a complete and up-to-date factor library.
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