Vietnam has received a payment of 51.5 million USD for verified emission reduction results achieved by reducing deforestation, forest degradation, and enhancing carbon storage through afforestation and reforestation.

As the EU Deforestation Regulation (EUDR) is about to officially take effect on December 31, 2024, Vietnamese enterprises have been advised to act quickly to comply with this rule to sustain exports to this major market.

Vietnam has received a 51.5-million-USD payment for verified emissions reductions (carbon credits) for reducing deforestation and forest degradation (commonly known as REDD+) and for enhancing carbon stored in forests through reforestation and afforestation.

The World Bank and Indonesia’ environment and forestry ministry have signed a landmark agreement on Forest Carbon Partnership Facility (FCPF) worth 110 million USD.

Vietnam will be the fifth partner in the Forest Carbon Partnership Facility (FCPF) and the first in the Asia-Pacific region to sign an Emissions Reduction Purchase Agreement (ERPA), according to Standing Deputy Minister of Agriculture and Rural Development Ha Cong Tuan.

A meeting was held in Hanoi on June 26 to review the project on support for preparing the readiness to carry out the international framework “Reducing Emissions from Deforestation and Forest Degradation” (REDD+) in Vietnam Phase 2 (FCPF-2).

Vietnam has set up a fully integrated forestry information database under a project funded by the Finnish Government, the Ministry of Agriculture and Rural Development (MARD) said at a recent conference in Hanoi.

Laos has signed an agreement on the Establishment of the Asian Forest Cooperation Organisation, becoming the 10th country to sign this document, the English-language newspaper Vientiane Times reported.

Vietnam aims to raise its forest coverage to 41.6 percent and to earn 8.5–9 billion USD from exporting wood and forestry products while providing jobs to 25 million people in 2018.

A new project was launched by Indonesia’s Ministry of Environment and Forestry with assistance from World Bank and Denmark on October 5.

The northern mountainous province of Lao Cai announced on July 5 an action programme for reducing emissions from deforestation and forest degradation (REDD+).