Vietnam gets US$41.2 million in emission reduction payments

Vietnam has received US$41.2 million, equivalent to 80 percent of the total funding, from the World Bank for 10.3 million tons of CO2 as a result of its efforts to reduce carbon emissions in deforestation and forest degradation until 2025.

Vietnam has made strong commitments to the international community in the fight against climate change as it signed the Paris Agreement on climate change in 2015, targets to cut emissions to net zero by 2050, and engages in various initiatives such as Reducing Emissions from Deforestation and Forest Degradation (REDD ) and Glasgow Leaders’ Declaration on Forests and Land Use.

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