HCMC – The Vietnam Forest Protection and Development Fund aims to collect VND3.3 trillion from forest environmental services in 2025 by ensuring timely payments and proper fund allocation.
Data showed that in 2024, forest funds nationwide signed 218 contracts for forest environmental services, laying the groundwork for collecting payments from service users in the coming period, reported the Vietnam News Agency.
Total revenue from forest environmental services reached over VND3.7 trillion in 2024. Efforts to generate new income from carbon absorption and storage services in forests are ongoing.
A notable milestone was reached with the successful transfer of 10.3 million tons of CO2 to the Forest Carbon Partnership Facility (FCPF) through the World Bank under the Emission Reductions Payment Agreement (ERPA) for the north-central region, yielding US$51.5 million, or over VND1.2 trillion.
A representative of the Vietnam Forest Protection and Development Fund said that the forest environmental service payment policy has met practical needs. Most types of forest environmental services have been implemented, with support and active participation from local governments, organizations, and individuals.
As a result, the revenue from forest environmental services has improved livelihoods, increased incomes, and enhanced the quality of life for people in forest areas and contracted households. Additionally, it contributes to environmental protection, biodiversity conservation in forest ecosystems, and climate change adaptation.
Revenue from forest environmental services has contributed to the management and protection of 7.45 million hectares of forest, representing 53.53% of the country’s total forest area.
This funding has also helped resolve financial challenges for 235 protected and special-use forest management boards, 99 forestry companies, and hundreds of thousands of households, individuals, and local communities.
