Mon, 04 Dec 2023

HANOI, Sept. 29 (Xinhua) -- Vietnam has received 41.2 million U.S. dollars, or 80 percent of the total funding, from the World Bank for reducing carbon emissions from forests by 10.3 million tons, according to the Forestry Department under the Ministry of Agriculture and Rural Development.

That has been the country's first project of carbon emission reduction from forests, showing Vietnam's efforts to reduce carbon emissions in deforestation and forest degradation until 2025, Vietnam News Agency reported on Friday, citing Tran Quang Bao, head of the department.

Vietnam could receive up to 51.5 million dollars if the country is able to reduce 10.3 million tons of carbon dioxide emissions from six north-central provinces, following the Emission Reductions Payment Agreement signed between Vietnam and the World Bank's Forest Carbon Partnership Facility in October 2020.

Vietnam aims to reduce 15.8 percent of emissions, equivalent to 146 million tons of carbon dioxide, and the figures are raised to 43.5 percent and 403 million tons with international support, according to its National Determined Contributions report.

More Vietnam News

Access More

Sign up for Vietnam News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!