USAID Supports the Quang Nam Provincial Reducing Emissions from Deforestation and Forest Degradation-plus (REDD+) Action Plan and Efforts to Secure Private Sector Financing for Forest Conservation

Friday, October 16, 2020

On October 6, the USAID Green Annamites project supported the Quang Nam Provincial People’s Committee (PPC) and Department of Agriculture and Rural Development  to conduct a consultation meeting to review the province’s carbon credit trading proposal for the Prime Minister’s approval as well as potential investors’ proposals to purchase REDD+ carbon credits  from Quang Nam, offsetting these companies’ carbon footprints and supporting forest protection. Vietnam was one of the first countries in Asia to develop a National REDD+ Action Program and so far, 22 provinces have developed provincial REDD+ action plans (PRAPs).

With technical support from the USAID Green Annamites project, Quang Nam prepared and approved its PRAP in June 2020. In order to provide reassurance to proposed buyers and offer a verifiable roadmap for REDD+ implementation in Quang Nam, USAID Green Annamites is also commissioning a peer-reviewed Project Description Document. The document will verify available carbon credits and facilitate Quang Nam’s successful finalization of a carbon transaction, which will result in a reduction of over 15 million tons of carbon dioxide emissions over the next 10 years, protecting 175,470 hectares of forest area and supporting Quang Nam’s continued efforts to reduce its deforestation risk and independently finance conservation projects.

So What? USAID’s technical assistance to the Quang Nam PPC on REDD+ is facilitating the province’s capacity for private, sustainable investment for forest conservation, supporting Vietnam’s self-reliance and safeguarding of its natural resources, goals of the Indo-Pacific Vision. 

(REDD+ refers to reducing emissions from deforestation and forest degradation, and the role of conservation, sustainable management of forests, and enhancement of forest carbon stocks in developing countries.)

Last updated: October 16, 2020

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