Vietnam signs landmark carbon emissions deal with World Bank

Vietnam has signed a landmark deal with the World Bank’s Forest Carbon Partnership Facility (FCPF), unlocking up to $51.5 million for the country's efforts to reduce carbon emissions from deforestation and forest degradation between now and 2025. 

With this Emission Reductions Payment Agreementin place, Vietnam is expected to reduce 10.3 million tonnes of carbon dioxide emissions from six North Central Region provinces of Thanh Hoa, Nghe An, Ha Tinh, Quang Binh, Quang Tri and Thua Thien Hue to receive $51.5 million from the FCPF.

Vietnam’s Emission Reductions Program is designed to address the underlying causes of forest loss in the country’s North Central Region and by so doing reducing emissions from deforestation and forest degradation. The program will also support forest restoration.