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Australia's commitment to support 6 projects on the carbon market in Vietnam

The Australian Embassy announced six projects to promote the development of carbon markets in Vietnam, within the framework of the Business Partnership Platform (BPP) of the Ministry of Foreign Affairs on 29th November 2022 in Hanoi.

Interim Representative of the Australian Embassy in Vietnam Mark Tattersall and representatives from six partnership projects (Photo: the internet)
Interim Representative of the Australian Embassy in Vietnam Mark Tattersall and representatives from six partnership projects (Photo: the internet)

The 6 projects are listed as below:

1. "Encouraging low-emission rice production through satellite technology" : jointly implemented by CarbonFarm Technology, International Rice Research Institute, Rikolto and DFAT. The project will train and support producers. rice transition to lower emissions practices, and piloting the world's first satellite-based Measure, Reporting and Verification (MRV) solution for rice in remote sensing technology to detect sustainable practices and accurately estimate emissions reductions from satellite imagery. The International Rice Research Institute is providing scientific advice and data control assistance at place, to ensure that the project achieves the desired emission reductions.

2. “Expanding Carbon Market Access for Sustainable Rice Producers” : jointly conducted by the International Rice Research Institute, Gold Standard and DFAT. The project creates a digital platform that simplifies the registration and evaluation process of projects to reduce greenhouse gas emissions from rice production by new methods, provides training and capacity building tools to guide the broad adoption of methods and platforms, and at the same time, supports small-scale rice producers to participate in the carbon market.

3. “Promoting nature-based carbon projects” : by NatureCo, One Tree Planted, Center for Nature Conservation and Development, Cooper Energy and DFAT. The project will assess opportunities for Nature Based Solutions (NbS) nationwide, while collaborating with local organisations to develop and develop a pilot NbS project, focusing on carbon reduction through afforestation. Lessons learned will be used to build toolkits and create momentum for future growth and private sector investment in NbS in Vietnam.

4. “Upland tree planting for income generation and carbon sequestration”: jointly conducted by Greenfield Consulting and Development, University of Queensland, Northwest Forestry Science Center and DFAT. The project will generate carbon credits by planting timber and fruit trees on sloping land in Son La province. The project aims to plant 100,000 trees and generate at least 300,000 carbon credits (equivalent to 300,000 tons of CO2), while improving local livelihoods and protecting the environment.

5. “Biochar to remove carbon and improve livelihoods” : jointly implemented by Biocare Projects, EnergyLink Services, University of Adelaide, Ho Chi Minh City University of Technology, Mai Anh Dong Thap and DFAT. The project will produce biochar in the Mekong Delta to remove about 15,000 tons of CO2 equivalent annually, creating new sources of income for local communities through the procurement of biomass raw materials and the sale of carbon credits .

6. “Promoting nature-based solutions through carbon afforestation projects”: jointly implemented by South Pole, Vietnam Energy and Environment Construction Consulting Joint Stock Company (VNEEC) and DFAT. The project will create a favorable environment for competent and integrated REDD+ projects, using the existing afforestation project model in the Northwest; strengthen the capacity of individuals and organizations to implement carbon projects, through on-site support, training and technical assistance – creating a sustainable foundation for forest management and projects -bon in the future.

The total investment capital of the projects is 3.7 million USD, of which, DFAT will support 3.3 million USD.

The carbon market partnership projects under the BPP program are part of Australia's commitment to strengthen climate action support in our region, including partnership climate projects to bring social and environmental benefits to the community in Vietnam.

Source: the Internet



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