Agriculture ministry wants to sell 5.9 million tons more of carbon dioxide

The Ministry of Agriculture and Rural Development (MARD) has reported to the government about the signing of documents on transferring 10.3 million tons of CO2 to the World Bank which will bring turnover of VND1.25 trillion.

In the report to the Prime Minister on the implementation of the Emission Reductions Payment Agreement (ERPA) in the north central region, MARD said ERPA was signed on October 20, 2020 between the agency and IBRD (International Bank for Reconstruction and Development), belonging to the World Bank group as the Trustee of the Forest Carbon Partnership Facility (FCPF).

ERPA aims at transferring reduced emissions of 10.3 million tons of CO2 in the northern part of the central region in 2018-2024 to FCPF (The Forest Carbon Partnership Facility) via the World Bank, with the unit price of $5 per ton of CO2, worth $51.5 million in total.

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Tam An