Việt Nam to sign emissions reduction purchase agreement

Việt Nam will be the fifth partner in the Forest Carbon Partnership Facility (FCPF) and the first in the Asia-Pacific region to sign an Emissions Reduction Purchase Agreement (ERPA), according to Deputy Minister of Agriculture and Rural Development Hà Công Tuấn.

Under the terms, if Việt Nam fully implements its commitment for north-central localities Thanh Hoá, Nghệ An, Hà Tĩnh, Quảng Bình, Quảng Trị and Thừa Thiên-Huế to reduce CO2 emissions by 10.3 million tonnes, the FCPF will pay Việt Nam US$51.5 million.

Signing the agreement is part of Việt Nam’s efforts to reduce deforestation and forest degradation.

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