• Launching of “Feasibility Assessment Project for Designing a Proposal to Mobilize a Green Carbon Credit Project”
  • Testing the feasibility of green carbon credits
  • Public consultation for the Gold Standard Carbon Project for Sustainable Development

Intensive afforestation

In recent years, the carbon credit market has become an important financial channel, encouraging activities to reduce emissions and increase carbon absorption.

With the planting of large timber trees, U Minh Ha Forestry Company Limited has a great advantage in participating in the carbon market.

Mr. Do Van Dong, Deputy Director of U Minh Ha Company, said: The unit is managing over 24,000 hectares of forest, of which the Company is directly producing over 4,140 hectares; cooperating with 252 households, with an area of 4,001 hectares; and contracting with 2,374 households with an area of 15,991 hectares. The conversion of the model from traditional extensive forest planting to intensive forest planting (from pure forestry production to forestry economic development) has promoted efficiency, higher productivity and quality than traditional extensive forest planting, the value of forest products is highly effective, reducing the risk of forest fires, so people have a very high awareness in planting, caring for, managing and protecting forests.

U Minh Ha Forestry One Member Co., Ltd. digs ditches and ridges for intensive forest planting.

On the other hand, U Minh Ha Company has also implemented well the coordination regulations with the forest rangers, police and local authorities to strengthen the inspection, supervision and strict management and protection of the existing forest area. In general, the forest area has been maintained and developed stably. In the past 3 years, there has been no illegal logging or deforestation in the management area; forest fire prevention and fighting measures have been well implemented.

Join hands to protect the forest

The company is currently implementing the Sustainable Forest Plan for the period 2024-2028 with the following objectives: Effectively using forests and forest land at reasonable costs, ensuring continuity and longevity; minimizing conflicts between the three aspects: economy, environment and society. Applying technical advances in afforestation at reasonable costs, in order to improve productivity and quality of planted forests.

Workers of U Minh Ha Forestry Company Limited take care of a 1-year-old acacia forest.

Mr. Duong Tung Son, Hamlet 14, Khanh Lam Commune, Ca Mau Province, shared: "In the past time, U Minh Ha Company regularly organized propaganda and training sessions on how to take care of forests and respond when forest fires occur. Thanks to that, we have gained more necessary knowledge to take care of and protect forests better and ensure income when the wood is ready to be harvested. In particular, planting large timber forests, in addition to harvesting wood later, selling carbon credits will create a stable and sustainable source of income throughout the tree growth process."

Mr. Tran Hoang Phuong, U Minh 1 Sub-zone, U Minh Ha Company, said: "The sub-zone has great potential in providing two types of forest environmental services: planting large timber forests to absorb and store forest carbon; reducing greenhouse gas emissions from limiting deforestation and forest degradation, sustainable forest management, promoting green growth. Currently, the sub-zone is aiming to plant and care for large timber trees as well as perfecting the criteria to be able to sell carbon credits".

Harvesting hybrid acacia trees at the Company.

Participating in the carbon credit market not only brings economic benefits to U Minh Ha Company but also directly contributes to Vietnam's efforts in implementing its Net Zero commitment by 2050. This is a clear demonstration of the role of the forestry sector in responding to climate change.

Mr. Le Van Hai, Head of the Forest Protection Department of Ca Mau province, said: Currently, Ca Mau province has a total forestry land area of over 151 thousand hectares; of which the forest area is over 100 thousand hectares. Special-use forests are nearly 24 thousand hectares; protective forests are over 20 thousand hectares; production forests are over 53 thousand hectares. Forest and scattered tree coverage rate: 26.2% (of which, forest coverage is 17.53%). Total economic income from forestry in 2024 is over 2,012 billion VND, of which income from forest products is nearly 500 billion VND.

Trung Dinh - Chi Linh

Source: https://baocamau.vn/khoi-dau-tiem-nang-ban-tin-chi-carbon--a120767.html