First Successful Implementation of Emission Reduction Agreement in Vietnam
The sale is the result of the first forest proceeds from six provinces in the north central region under the emission reduction agreement with the World Bank. It is transferred to localities to compensate forest owners, local communities, and people for their efforts in managing, protecting, and developing forests. The emission reduction agreement, successfully implemented in Vietnam, has brought in US $41 million in carbon credit sales with the World Bank (Photo: Getty Image). As the first emission reduction agreement successfully implemented in Vietnam, the sale represents an important step towards advanced forest management, protection, and improving people’s lives. The six provinces participating in the agreement are Thanh Hoa, Nghe An, Ha Tinh, Quang Binh, Quang Tri, and Thua Thien-Hue. They collectively have over 3.1 million hectares of forested land, accounting for 58 percent of the total area. Nguyen Quang Bao, Director of the Department of Forestry under the ...