Vietnam’s forestry sector leads in achieving net negative emissions

Forestry is now the only sector capable of achieving net negative emissions, thanks to the Government’s forestry development policies, including the closure of natural forests, forest protection and development, coupled with international sponsorship, said Director of the Forestry Department Tran Quang Bao.

Ha Cong Tuan, former Permanent Deputy Minister of Agriculture and Rural Development and VIESARD Chairman, said with international support, Vietnam successfully calculated total forest emissions reductions of 56-57 million tonnes annually during 2011-2018, laying the groundwork for the first ERPA. While awaiting the launch of an official carbon market by 2028, he urged the Vietnamese Government to take flexible steps to shape the market.

Experts believe that the forest carbon market holds substantial revenue potential for the forestry sector, facilitating investment in forest protection, job creation, and improvements in local income and environmental quality.

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