WB’s 51.5-million-USD payment helping Vietnam reduce emissions
Vietnam has received a 51.5-million-USD payment for verified emissions reductions (carbon credits) for reducing deforestation and forest degradation (commonly known as REDD+) and for enhancing carbon stored in forests through reforestation and afforestation.
This makes Vietnam the first country in the East Asia-Pacific to receive a results-based payment from the World Bank (WB)’s Forest Carbon Partnership Facility (FCPF). The payment was made to Vietnam for reducing 10.3 million tonnes of carbon emissions between February 1, 2018, and December 31, 2019. It is the largest single payment made by the FCPF for verified and high-integrity carbon credits to date.
