Promoting sustainable forest management in four provinces of Vietnam

The project “Building capacity to implement plans to mitigate the impact of climate change and mobilize sustainable financial resources for forest protection and development, including the high-quality Forest Carbon market” was officially launched in Lai Chau province on October 31.

The initiative aims to enhance climate resilience and promote sustainable forest management in four provinces, including Tuyen Quang, Lai Chau, Son La and Can Tho . Implemented by CARE, CIFOR and the University of British Columbia (UBC), the project aims to leverage Canada’s leading expertise in forestry management and explore opportunities for collaboration with Canadian stakeholders, including companies, investors, academic institutions and government agencies.

Running until March 2028, the project is part of Canada’s broader commitment to support the development of a high-quality forest carbon market in Vietnam. The project aims to accelerate climate change adaptation and resilience, and support Vietnam in achieving its national targets for climate action, biodiversity conservation, and inclusive socio -economic development. As average temperatures rise, biodiversity loss threatens and deforestation disrupts livelihoods, the initiative will galvanize communities and local governments to lead efforts on climate action and forest protection, while opening up new opportunities through the emerging carbon market.

Scene of the project launching ceremony. (Photo: CARE in Vietnam)

The project aims to strengthen climate governance towards positive adaptation and mitigation of impacts on nature, through the development of high-quality forest carbon markets, along with increased private sector participation in the financing and implementation of forest-based carbon projects. The project will also focus specifically on community-based forest governance in four biodiversity-rich provinces.

Lai Chau province, along with three participating provinces, is stepping up its readiness to participate in the international forest carbon credit market when the government allows – an important step to realize the economic potential of forest resources and support Vietnam’s national roadmap towards net zero emissions by 2050.

The C4G project will support the development of sustainable forest management strategies that both protect local ecosystems and generate financial benefits from carbon credits for stakeholders such as local authorities, private sector actors and forest owners – once Vietnam’s national carbon market mechanism is fully operational.

Visit and learn about forest protection work in Lai Chau. (Photo: CARE in Vietnam)

To ensure market readiness, the project will aim to deliver four key outcomes: Forest Carbon Potential Assessment: A detailed report assessing each province’s forest carbon sequestration and storage potential, providing the baseline data needed to quantify future carbon credits generated.

Emission Reduction Feasibility Assessment: The report assesses the ability of provinces to meet national greenhouse gas (GHG) emission reduction targets as assigned by the Government in the future, ensuring both compliance and potential.

Market Readiness Data Profile: Comprehensive profile for each province detailing the potential for forest carbon credit development, helping provinces prepare to participate in the carbon credit market once legal approval is obtained.

Professional Capacity Building: In-depth training on carbon credit valuation methodology, project development, and carbon market risk/opportunity assessment, capacity building for provincial officials and local businesses.

These outcomes are expected to transform forest assets into sustainable revenue streams, improve local livelihoods, and contribute meaningfully to Vietnam’s climate goals.

“We combine local knowledge with innovative solutions to not only address climate change but also ensure the voices of local communities – especially ethnic minority women – are heard in relevant decisions,” said Ms. Le Kim Dung, Country Director of CARE in Vietnam.

“It is important that this project helps create long-term economic development opportunities for those who need it most,” she added.

Source: https://thoidai.com.vn/thuc-day-quan-ly-rung-ben-vung-tai-4-tinh-cua-viet-nam-217334.html