Carbon pricing is a mechanism by which costs and losses due to GHG emissions such as crop damage, health care costs due to extreme climate events, etc. transfer the burden caused by GHG emissions back to the sources that cause emissions. This internalization price is usually evaluated per ton of carbon dioxide equivalent (CO2). This research systematizes the main three carbon pricing instruments, namely: carbon tax, emission trading system, and carbon credits. The current situation of adoption and implementation in Vietnam is then analyzed. Based on this analysis, feasible recommendations are proposed to effectively adapt the specific carbon pricing mechanism toward sustainable development in Vietnam.