Developing carbon credits to increase the value of forests.

Forest carbon credits are opening up great opportunities for Tuyen Quang's forestry sector, helping to protect forests effectively while increasing revenue from forests.

Restoring rich forests to increase carbon sequestration.

Currently, Tuyen Quang has approximately 11,000 hectares of planted forests that have been implemented by forestry companies using a model that extends the business cycle and is linked to carbon credits. Four leading units are Yen Son Forestry Company, Tuyen Binh Forestry Company, Son Duong Forestry Company, and Chiem Hoa Forestry Company.

Developing carbon credit services opens up new opportunities for the forestry sector in Tuyen Quang. Photo: Dao Thanh.

In the field, the forests planted according to carbon credit guidelines are thriving and growing vigorously. Mr. Tran Xuan Quang, Director of Yen Son Forestry Company Limited, said that previously, the harvesting cycle of planted forests was usually only about 7 years. However, with carbon credit, the cycle is extended to 9-12 years, helping the forest increase biomass, increase carbon absorption, and at the same time bring many environmental benefits such as soil and water conservation, erosion control, and climate regulation.

If degraded forests are restored to become rich forests, the added value of the forest will be even greater. When forests mature, not only does timber production increase, but the landscape also becomes more beautiful, the ecosystem more stable, and the ability to withstand natural disasters is improved. In particular, in addition to income from timber harvesting, forest owners also have an additional source of income from carbon credit services.

Recent events have shown that climate change and unusual rainfall and floods have caused severe damage in many localities across the country, further highlighting the role of forests. Carbon credits, therefore, not only have economic significance but also make a practical contribution to the goal of sustainable development.

Mr. Trieu Dang Khoa, Deputy Head of the Forest Protection Department of Tuyen Quang province, emphasized that carbon credits are a green economic development trend that the world is moving towards. Participating in this market helps protect the environment while creating long-term economic benefits for people and businesses.

Need to remove barriers

However, for carbon credits to truly become a reality, Tuyen Quang still faces several major obstacles, such as the lack of specific guidelines on the mechanism for identifying, registering, verifying, and trading forest carbon credits. Businesses are concerned about the unclear total costs for assessment, hiring independent appraisal units, and transaction fees on the exchange. Without a clear financial assessment, it will be difficult to implement the system on a large scale.

Tuyen Quang is a locality with great potential for developing and expanding the carbon credit market. Photo: Dao Thanh.

For households, the barriers are even greater. The cost of hiring experts to assess, document, and carry out related procedures is beyond the means of most small-scale forest owners. Therefore, people are forced to partner with businesses or state management agencies to participate in carbon credit projects. However, the problem is that the responsibilities, rights, and benefit sharing among the parties involved are still not clearly defined.

Furthermore, the province also faces limitations in data management systems and monitoring technology. Currently, the province has not yet established a synchronized carbon stock tracking system; modern remote sensing and monitoring technologies are lacking, and the capacity of local officials does not meet the requirements for continuous inventory and data updating. These are mandatory requirements in carbon credit transactions, so a lack of them will make it difficult to participate in the international market.

With its position as one of the provinces with the largest forest area in the country, Tuyen Quang has full potential to become a pioneer in the development of forest carbon credits. If done well, this will be an opportunity for the province to both protect its forests and exploit new financial resources to reinvest in forests, improve livelihoods for the people, and make a significant contribution to the national emission reduction goal.

Source: https://nongnghiepmoitruong.vn/phat-trien-tin-chi-cac-bon-de-gia-tang-gia-tri-rung-d787756.html