Some provinces want to pilot investment and trading in forest carbon credits but cannot make it due to a lack of regulations and guidelines. According to the 2023 nationwide forest status report released by the Ministry of Agriculture and Rural Development, Son La Province has 676,890 hectares of forest, including 593,269 hectares of natural forest and 83,621 hectares of replanted forest, reaching the coverage rate of 47.5%. With this forest status, Son La has immense potential in carbon credit supply, which is expected to bring about high economic value. Some years ago, the province began mapping out a plan related to forest carbon credits. In August 2023, the Vietnam Environment Fund Company officially proposed Son La authorities draft a forest carbon credit trading plan to create financial resources for the management, protection, and sustainable development of 155,000 hectares of special-use and protective forests in the districts of Bac Yen, Phu Yen, Muong La and Thuan Chau. The specific target is to develop 2.1 million verified and issued carbon credits, with 600,000 credits from 2021 to 2025 and 1.5 million from 2026 to 2030. However, carbon credit trading is still in the study, consulting, and planning phases, as this business has […]
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