Vice Chairman of the Quang Nam provincial People’s Committee Ho Quang Buu has just shared the experience in the implementation of forest carbon project with the delegation from Son La province led by its Deputy Chairman Nguyen Thanh Cong.
Forest in Quang Nam
Reportedly, Quang Nam currently has more than 680,000ha of forest, including 466,113ha of natural forest.
It can absorb more than 11.2 million tons of carbon dioxide (CO2) from 2018 to 2030; so, Quang Nam can sell forest carbon credits to the world market.
It is estimated that Quang Nam can earn about 5 million USD each year by selling forest carbon credits, which can contribute to more effective forest management and protection.
Selling forest carbon credits will go through international bidding and ensure the criteria for forest management and protection.
However, the Government's agreement to allow Quang Nam to carry out a pilot project on forest carbon credit trading creates great opportunities for the province.
Until now, 5 foreign investors have registered to buy the province's forest carbon licenses/credits.