Vietnamese Localities to Expand Activities to Develop Carbon Credit Market
Localities across Vietnam plan to expand their activities to develop the carbon credit market towards policies on reducing greenhouse gas emissions, allocating emission quotas, trading carbon credits, and creating green financial resources for the country, local media reported.
Central Quang Binh province plans to evaluate eligible areas and estimate the potential for reducing greenhouse gas emissions by implementing new forest planting activities according to international standards and converting small wood plantations to larger ones to increase forest carbon reserves in the future, said Deputy Director of the provincial Forest Protection Department Nguyen Van Duan.
Besides, Quang Binh will hold meetings with relevant organizations and individuals to consult on the assessment results and propose activities to develop forest carbon credit projects.
Southern metropolis of Ho Chi Minh City, which has been selected as the first locality to pilot the carbon credit trading mechanism, plans to deploy potential projects to generate carbon credits, such as upgrading street lights to LED, installing rooftop solar systems for public and private assets in the area, and equipping buildings with energy-saving devices.
Meanwhile, the Mekong Delta province of Ben Tre has been focusing on continuing to develop eco-friendly agriculture, circular economy, low-carbon emissions, environment-friendly and climate-resilient agriculture.