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(QNO) - A symposium on carbon reserves and biodiversity was held on July 24 by the Quang Nam provincial People’s Committee.
The conference aimed to share with stakeholders the current state of biodiversity and forest resources, as well as the potential and progress in developing a pilot carbon project and forest restoration in Quang Nam.
The event was part of the National Biodiversity Year under the theme “Living in harmony with nature,” hosted by the Quang Nam provincial People's Committee. It was headed by Ho Quang Buu, , Deputy Chairman of the Quang Nam provincial People’s Committee.
Quang Nam is one of the provinces in Vietnam with a large area of natural forests.
The forests and biodiversity in Quang Nam play a particularly important role in environmental protection, basin protection, soil erosion prevention, climate change mitigation, and improving the adaptability of communities.
Quang Nam has issued a number of specific mechanisms and policies on forest protection and development.
The province focuses on forestry planning, solutions for managing and protecting forest resources associated with developing mountainous areas and improving the livelihoods of forest-dependent communities.
At the same time, Quang Nam has approved and issued an Action Plan to reduce emissions from deforestation and forest degradation, and foster conservation, sustainable management of forests, and enhancement of forest carbon stocks (REDD+) for the 2020 - 2030 period.
The Quang Nam Provincial People's Committee has developed a pilot project for forest carbon credit trading, prepared a feasibility assessment report on investment opportunities in the carbon market, and attracted interest from potential investors and buyers. The project is pending the government's approval.
The symposium also covered the problems and obstacles relating to carbon trading in forestry and offered some solutions.
Besides, the event focused on the legal framework, investment rules, benefit-sharing methods, and coordination mechanisms between stakeholders.
In addition, the symposium mentioned regulations on the registration and trading of carbon credits.
(Source: Qdnd)