Forestry carbon market: High potential, many challenges
On the afternoon of August 22, the Ho Chi Minh City University of Agriculture and Forestry, in collaboration with the Center for International Forestry Research (CIFOR) and the University of Adelaide (Australia), held a seminar titled “Sharing and Updating Information on Carbon Markets from Coastal Forest Ecosystems.”
Research shows mangroves and wetlands have a much higher carbon absorption capacity than other ecosystems. However, the carbon market for these ecosystems has not yet been widely developed or promoted.
Dr. Vu Tan Phuong from the Forest Management Certification Office noted that developing the carbon market in forestry faces several challenges. These include the lack of detailed and clear legal frameworks and guidelines on investment, carbon rights, and benefit-sharing; coordination issues among ministries, agencies, and local authorities; and regulations concerning the registration and trading of carbon credits.
Translated by Thuy Doan
