Description

The province of Quảng Nam plans to export 2.5 million carbon credits equivalent to VNĐ 110 billion (US$ 4.7 million) to VNĐ 130 billion (US $5.6 million) and has asked for approval from the Government in March 2021. This pilot project, scheduled to be 2021 – 2025, belongs to a larger plan of the province which aims to develop a carbon market to protect forests and conservation areas and simultaneously reduce greenhouse gases emissions. This program contributes to the response of Vietnam to the global emissions reductions from the Deforestation and Forest Degradation (REDD+) agreement.

Source & further information: “Cash for carbon: Quảng Nam looks to profit from reforestation efforts” at https://vietnamnews.vn and “Chính phủ đồng ý cho Quảng Nam lập Đề án thí điểm kinh doanh tín chỉ các-bon rừng” at https://baoquangnam.vn, accessed on 16 July 2021.