Vietnam’s Directorate of Forestry, Ministry of Agriculture and Rural Development (MARD), and the Norwegian Embassy recently hosted a seminar “Forest carbon market: results after COP27 and roadmap to build a forest carbon market in Vietnam.”
Phạm Thu Thủy, Director of the Global Program on Climate Change, Renewable Energy and Low Carbon Development (Cifor – Icraf) shared his point of view that in order to promote the carbon market in Vietnam, they must work together on all the legal framework.
According to the record of the development of the forest carbon market from 2017 to 2019, nearly US$400 million generated from global voluntary carbon market transactions.
“However, these transactions are still not adequate with the true potential of the forestry sector and are influenced by international regulations on the operation of carbon market mechanisms and national policy frameworks,” wrote Vietnam News.
Many international organizations are looking forward to investing in Vietnam’s carbon market, said Thủy but the policies and agreements are what they are concerned about.