Vietnam to soon sell 5.15 million forest...

(VOVWORLD) – Vietnam will soon sell 5.15 million forest carbon credits (equivalent to 5.15 million tons of CO₂) from 11 provinces in the South Central region and the Central Highlands (Tây Nguyên) for a minimum price of USD 10 per ton to the non-profit organization LEAF during the period 2022–2026.

According to the Ministry of Agriculture and Rural Development, this marks a positive development in the commercialization of Vietnam’s forest carbon credits. The Ministry has completed the credit issuance application in accordance with the TREES standard, while also conducting technical negotiation sessions with the LEAF organization.

Earlier, at the end of March, Vietnam became the first country in the East Asia–Pacific region to receive USD 51 million from the World Bank’s Forest Carbon Partnership Facility (FCPF), based on emission reduction results in six provinces in the North Central region. This demonstrates a positive shift in the commercialization of forest carbon in Vietnam.