Wood industry has huge potential to increase revenue from selling carbon credits

Vietnam News
March 10, 2024
Category: Carbon, Climate & Bioenergy
Region: International

HCM CITY — Việt Nam has 14 million hectares of forests, which, if well-managed, offer opportunities for the country to capitalise on the carbon credit market, a dialogue heard in HCM City. Speaking at the Green Finance for Wood and Furniture Industry dialogue on the sidelines of HawaExpo being held in HCM City from March 6 to 9, Phùng Quốc Mẫn, deputy chairman of the Handicraft and Wood Industry Association of HCM City, said: “In the event that many countries around the world, including Việt Nam, are making efforts to achieve the Net Zero goal, meaning reducing carbon emissions has become a requirement for manufacturing industries.” The Government has a series of specific action programmes, including a roadmap to develop the carbon credit market until 2028, he said. …the wood industry sees reducing emissions as an opportunity since it possesses large planted forests where carbon credits are created, he said.

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