HANOI: Vietnam has made over 41 million U.S. dollars by selling forest carbon credits through an agreement with the World Bank, Vietnam News reported.
Forest carbon credits represent the value of carbon stored in forests and are earned by countries that effectively reduce carbon emissions.
In Vietnam’s case, this agreement marks a significant step in managing and safeguarding forests while enhancing the well-being of local communities.
Vietnam sells forest carbon credits
This landmark achievement signifies Vietnam’s successful implementation of emission reduction strategies, benefiting forest conservation and the livelihoods of its people.
The revenue generated has been allocated to six provinces in the north-central region, covering over 3.1 million hectares of forested land.
The funds are intended to compensate forest owners and local communities for their efforts in preserving, protecting, and fostering the development of these vital forest areas.
