Environment

Vietnam to receive additional 5 million USD from carbon credit transfer

The World Bank agreed to purchase an additional 1 million tonnes of CO2 at 5 million USD as excess greenhouse gas emission reductions.

The World Bank agrees to purchase an additional 1 million tonnes of CO2 as excess greenhouse gas emission reductions in the north-central region. (Photo: VNA)
The World Bank agrees to purchase an additional 1 million tonnes of CO2 as excess greenhouse gas emission reductions in the north-central region. (Photo: VNA)

Hanoi (VNA) – Vietnam will receive 5 million USD between September and October from the additional transfer of 1 million tonnes of CO2 to the World Bank under the Government's recent resolution regarding the transfer of excess greenhouse gas emission reductions from the north-central region for the 2018-2019 period.

Le Van Thanh, Deputy Director of the Vietnam Forest Protection and Development Fund, stated that once the funding is received, it will report to the Vietnam Forestry Administration (Vnforest) to submit to the Ministry of Agriculture and Environment for approval of the overall financial plan and the financial plans for 2025 and 2026. This will ensure the timely distribution of ERPA (Emission Reductions Payment Agreement) funds for local areas, in accordance with the provisions of the Government's Decree No. 107/2022/ND-CP.

Regarding the revenue from the pilot transfer of emission reduction results and the financial management of the ERPA in the north-central region, the fund has already received a total of 51.5 million USD (1.256 trillion VND) from the World Bank. Of this amount, 1.213 trillion VND was distributed to Thanh Hoa, Nghe An, Ha Tinh, Quang Tri, and Hue city.

As of September 12, 2025, 975.08 billion VND had been disbursed by the localities, including 28.78 billion VND for management and 946.30 billion VND for forest owners, reaching 81.28% of the approved plan and 80.21% of the actual revenue collected.

The ERPA for the north-central region was signed on October 22, 2020 between the Ministry of Agriculture and Rural Development (now the Ministry of Agriculture and Environment) and the World Bank as entrusted by the Forest Carbon Partnership Facility to transfer 10.3 million tonnes of CO2, a result of greenhouse gas emission reduction over 2.15 million hectares of natural forests in the region during 2018–2024.

With a price of 5 USD per tonne of CO2, the transfer generated 51.5 million USD. About 95% of the transfer result will be returned to Vietnam to help with its nationally determined contributions to cut emissions.

After that, the World Bank agreed to purchase an additional 1 million tonnes of CO2 as excess greenhouse gas emission reductions./.

VNA
#carbon credit transfer #World Bank #carbon credit #greenhouse gas emission reductions #north-central region #Vietnam Forest Protection and Development Fund
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