Illustration photo: nongnghiep.vn

According to the Ministry of Agriculture and Rural Development, this marks a new step forward in the commercialization of forest carbon credits in Vietnam.

Currently, the Ministry has submitted the application for credit granting according to TREES standards (also known as the REDD+ Environmental Excellence Standard) and is urgently organizing technical negotiation sessions with the Emergent Organization.

Late last month, Vietnam became the first country in the East Asia-Pacific region to receive a payment of over 51 million USD based on emissions reduction results in six North Central provinces, from the World Bank’s Trustee of the Forest Carbon Partnership Facility.