Factors influencing public awareness of carbon credit adoption in Vietnam

Abstract:

The study aims to explore and identify an appropriate model that demonstrates the influence and potential success of key characteristics in the development of the carbon credit market in Vietnam. Data were collected through a structured questionnaire administered to 330 office employees residing in Vietnam who possess an understanding of carbon credits. The qualified data were then analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) in SmartPLS 3.0 and Necessary Condition Analysis (NCA) in RStudio. The results indicate that business demand, technology, and transformational leadership have positive and significant effects, among which business demand exerts the strongest impact on enhancing carbon awareness. Encouraging businesses to participate in the carbon market is identified as a practical solution to improve public awareness. This study proposes relevant recommendations to enhance understanding of the carbon credit market among Vietnamese citizens, expand its influence, and promote the adoption of carbon credits within enterprises in the Vietnamese market.