Payment for carbon sequestration

(QNO) - The Green Annamites project funded by the United States Agency for International Development (USAID) will pilot carbon payments for forest environmental services (C-PFES) in Quang Nam and Thua Thien-Hue. The move helps Vietnam implement the international commitment on reduction of 8% of greenhouse gas emission.

Photo: baotainguyenmoitruong

 Quang Nam and Thua Thien- Hue are selected to carry out the feasibility study into C-PFES. Reported from C-PFES consultants, forest carbon reserves in Quang Nam and Thua Thien- Hue are over 266 and 117 million tons of CO2 respectively. For each hectare, about 10.6 tons of CO2 in Quang Nam and 12.1 tons in Thua Thien- Hue is absorbed a year.

Both provinces have discussed the approach, content and method in order to complete the pilot scheme and develop the pilot project on C-PFES. They’ve also agreed on what to do and when to carry out the first phase.

In Quang Nam province, forest protection forces are appointed to take over the PFES. Hopefully, they will work hard and effectively.