“Forest carbon credits: opportunities and challenges”

This is the topic of the workshop organized by the Provincial Union of Science and Technology Associations in coordination with agencies, units, experts, and scientists inside and outside the province on the morning of April 10 in Phan Thiet City. Attending the workshop were leaders of a number of relevant departments, branches, sectors, associations, and unions.

Accordingly, the content that the delegates expressed their opinions and discussed was the current status of the province's forest resources, the implementation of programs and projects to conserve, increase carbon reserves and sustainably manage forest resources, and develop carbon credits in recent times; the implementation of the provincial forest environmental service payment policy; orientation of participation and role of the Forest Protection and Development Fund when piloting and operating the forest carbon market in the province...

*Mr. Luong Thanh Son - Chairman of the Provincial Union of Science and Technology Associations spoke at the workshop.*

Speaking at the workshop, Mr. Luong Thanh Son - Chairman of the Provincial Union of Science and Technology Associations said that in recent times, the provincial agricultural sector has implemented many training courses on sustainable forest management and forest certification for forestry officials and localities. Thereby, helping units and organizations update a lot of knowledge, raise awareness and consciousness in afforestation, especially the issue of sustainable forest management. Through the practical implementation of this activity in localities, the provincial functional sector realized that the implementation of forest certification faced difficulties such as management level, funding sources, difficulties in propaganda work, incomplete legal framework, lack of experienced experts in this field, etc.

Therefore, at this workshop, delegates, experts, scientists, and specialized management agencies boldly shared, discussed, and clarified the shortcomings, limitations, and difficulties in accessing and implementing regulations related to the development of forest carbon credits in the province. At the same time, they shared more information and experiences from provinces and cities across the country and proposed more appropriate and practical solutions to contribute to promoting the development of forest carbon credits in the province in the coming time.

According to the data published on the current forest status of Binh Thuan province in 2023, the total forest area in the province is 342,127.58 hectares, of which natural forests are 296,915.47 hectares and production forests are 138,706.95 hectares. Evergreen or semi-deciduous broadleaf forests dominate with an area of 128,475.03 hectares, followed by deciduous broadleaf forests with an area of 111,537.97 hectares. The Department of Agriculture and Rural Development said that with a relatively large area of natural forests, participating in the purchase and sale of emission reductions through carbon credits will bring an important source of funding for the province to continue investing in forest management, protection and development; contributing to improving the lives and livelihoods of ethnic minority households in particular, households living in and near forests in general; sharing, reducing the pressure on local investment costs in forest management, protection and development. This is a turning point that lays the foundation for exploiting the potential of carbon resources…

*A forest area in Binh Thuan seen from above.*

It is known that by the end of 2023, Vietnam had transferred 10.3 million tons of CO2 to the World Bank, earning more than 1,250 billion VND. Currently, the North Central region sells forest carbon credits at a price of 5 USD/ton of CO2. Quang Tri province alone is selling FSC-certified forest carbon credits and is currently negotiating with a business in the Netherlands at a price of 10 USD/ton of CO2.

Carbon credit is a generic term for a tradable credit or permit representing 1 ton of CO2 or an amount of other greenhouse gas equivalent to 1 ton of CO2. The trading of CO2 emissions or carbon on the market is done through credits.

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