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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 ...
Expanding payment mechanisms for ecosystem services to bolster conservation efforts
In a bid to enhance the conservation and restoration of natural ecosystems and diverse wildlife within the country, the application of payment mechanisms for environmental services rendered by forests is being recommended for broader ecosystems.The Forest Protection and Development Fund has been instrumental in deploying the ...
Bình Phước uses payment scheme to help protect forests
The policy of payments for forest environmental services in Bình Phước Province has helped protect and develop forests, and improve the livelihoods of forest protecting households.Under the policy, households, forest owners and firms that participate in protecting forests are paid an annual fee calculated on ...
Sustainable livelihoods needed for forest conservation
A webinar held on December 24 pointed out the need to develop sustainable livelihoods for residents in the buffer zones of nature reserves and national parks so as to help with forest conservation.A representative from the Vietnam Administration of Forestry said it is necessary to ...
National forest service payment mechanism generates 120 million USD annually
The Payment for Forest Environmental Services (PFES) system implemented at national scale under an USAID project now generates approximately 120 million USD annually to finance the management of approximately 6 million hectares of Vietnam’s forests.The figures were released at an Earth Day event held in the Central ...
Forest environmental services to bring about 2.8 trillion VND in 2021
The Vietnam Administration of Forestry (VNFOREST) aims to collect 2.8 trillion VND (121.7 million USD) from forest environmental services this year.According to VNFOREST Deputy Director Pham Van Dien, forest carbon sequestration and emission reduction services, a new feature of 2021, will add between 300 to ...
Forest environmental service fees scheme promotes forest protection in Vietnam
The revenue from forest environmental service fees has become a sustainable financial source, contributing to increasing the value of the forestry industry as well as the country’s GDP growth, according to Nguyen Chien Cuong, an official of the Vietnam Forest Protection and Development Fund (VNFF).It ...
Forest environmental services policy changes the lives of northwestern people
Forty-one of the country’s 63 provinces have established a forest-protection and development fund to look after nearly 6 million hectares of trees, according to report of the Ministry of Agriculture and Rural Development.The policy was first introduced in Việt Nam in 2008, requiring hydro-power plants, water-supply companies and ...
