Nghe An province could earn over $10 million from reducing greenhouse gas emissions.

(Baonghean.vn) - If Vietnam's emissions reduction program is approved by member countries in December 2017, the Carbon Fund, managed by the World Bank (WB), is expected to purchase 10.3 million tons of carbon from Vietnam (at an expected price of 5 USD/ton), bringing Vietnam over 51 million USD, with Nghe An province alone receiving over 10 million USD.

Pu Mat National Park still retains many pristine forests. Photo: Van Truong.

The Emission Reduction Program (ER-PD) is being implemented in six provinces in the North Central region: Thanh Hoa, Nghe An, Ha Tinh, Quang Binh, Quang Tri, and Thua Thien Hue. The program is designed based on five requirements: Addressing the direct and indirect causes of deforestation and forest degradation; Alignment with and contribution to national strategies and policies; Ambitious yet realistic; Results-based payment; and Self-funded investment for implementation.

The ER-PD comprises 4 components, 10 sub-components, and 28 key activities, designed based on the results of consultations with stakeholders from the central to local levels, including the community.

In Nghe An province, priority is given to 89 communes in 13 districts, including: Anh Son, Con Cuong, Dien Chau, Do Luong, Ky Son, Nghia Dan, Que Phong, Quy Chau, Quy Hop, Tan Ky, Thanh Chuong, Tuong Duong, and Yen Thanh.

Forest rangers patrol and protect the Pù Mát forest in Châu Khê commune, Con Cuông district. Photo: Văn Trường.

Nghe An's overall goal is to reduce greenhouse gas emissions from deforestation and forest degradation by 15% (corresponding to a reduction of 4,000 hectares of lost forest and 4,500 hectares of degraded forest) and increase carbon sequestration from forests during the 2016-2020 period in the province. It also aims to mobilize domestic and international resources to participate in forest protection and development in localities to promote socio-economic development, environmental protection, and sustainable forest development.

Representatives of the REDD+ Project (Reducing Greenhouse Gas Emissions from Deforestation and Forest Degradation) in Nghe An province stated that, given Nghe An's current forest area and its good protection by 2025, the World Bank's carbon fund is expected to disburse over $10 million to Nghe An.

This program is benefiting the people of Nghe An, helping the province generate revenue from the carbon fund to develop renewable energy; and further leveraging opportunities to use carbon emission reduction credits to serve economic development goals and mitigate natural disasters.

Moreover, this program is particularly significant in helping the people of Nghe An better understand the importance of forests, not only from an economic perspective, but also in realizing international commitments on reducing greenhouse gas emissions and responding to climate change.

Van Truong