In a written response to voters' opinions in preparation for the 7th session of the 15th National Assembly, the Department of Agriculture and Rural Development of Da Nang City informed that, currently, the establishment of carbon credits and market development Forest carbon credits in Vietnam in general and Da Nang City in particular are completely consistent with world trends to contribute to promoting the development of a green economy in accordance with the State's policies.
However, through monitoring the situation of establishing carbon credits in localities such as Quang Nam, Tuyen Quang.... there are still many difficulties and obstacles related to domestic and international facilities and legal procedures. .
The Department of Agriculture and Rural Development of Da Nang City advised the City People's Committee to consider and add Da Nang to the REDD+ emission reduction program sent to the Ministry of Agriculture and Rural Development to quickly access the policy "Absorption and forest carbon storage", increasing people's income and increasing forest coverage in the city.
In which, the People's Committee of Da Nang City has requested the Ministry of Agriculture and Rural Development to report to the Prime Minister for consideration and agreement to add to the REDD+ emission reduction program according to TREES standards in the South Central and Central Highlands regions due to Alliance for Reducing Emissions through Enhanced Forestry Financing - LEAF implements.
Last May, the Forestry Department issued an Official Dispatch on adding Quang Nam and Da Nang to participate in the LEAF initiative and responded to the Official Dispatch of the People's Committee of Da Nang City.
The official dispatch stated, "Up to now, the Forestry Department is urgently preparing content and technical documents to negotiate, sign and implement the Emission Reduction Purchase Agreement in the Central Highlands and South Central Region (ERPA). ).
The addition of Quang Nam and Da Nang to the LEAF initiative will significantly slow down the process of negotiating, signing and implementing ERPA, affecting the progress assigned by the Prime Minister because the addition needs to be carried out many times. procedures of Vietnam and partners.
These include: (1) report requesting permission from the Prime Minister; (2) agreement with the Emergent Organization (LEAF's administrative arm); (3) request the ART Secretariat (the carbon standard management agency applied by LEAF) to supplement, edit and update the application dossier for granting carbon credits in the Central Highlands and South Central regions that Vietnam submitted it at the end of 2023.
The Forestry Department will pay attention to advising the Ministry of Agriculture and Rural Development so that Quang Nam and Da Nang can access and participate in forest carbon absorption and storage services with partners in the near future."
At the 19th meeting of the Da Nang City People's Council, term X, term 2021-2026 on July 29, Mr. Tran Quang Phuong, Vice Chairman of the National Assembly, said that according to the Law on Environmental Protection, by 2028 , the carbon market in Vietnam has just been formed.
Allowing the implementation of the carbon credit policy helps Da Nang soon access the international market and test transactions, both gaining more experience and creating a new source of revenue for the state budget. The city government needs to carefully prepare conditions for implementation, ensuring feasibility in practice.
