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(cotton tree) and Kadam (Neolamarckia cadamba) which are detailing project documentation, methods for allocating
said to be prone to termite attack. Until a viable altenative is emissions reduction targets, contract templates and financial
found plymills will have to rely on Poplar from Uttar Pradesh management requirements.
and Haryana. A participant said “to improve the profit margins “The decree creates a comprehensive legal basis for
and contain input cost the plantation experts and industry forest carbon services and provides a clear framework for
needs to look beyond Semal and KIadam, cultivation and generating, managing and trading forest carbon credits in

introduce species like Poplar and Eculayptus in Bihar”. Vietnam", Luong said.
He noted that the country has gradually developed its
Middle East conflict has impacted plywood market forest environmental services policy over nearly two decades.
structure Pilot payments for forest environmental services began in
The Middle East conflict has allowed ‘organised’ plywood 2008, followed by a government decree in 2010 establishing
manufacturers to gain market share, said the CFO of a major the payment mechanism. The 2017 Forestry Law subsequently
plywood manufacturer. recognised forest carbon sequestration and storage as one of
The ongoing conflict has unexpectedly benefited India's the five legally defined forest environmental services.
organised plywood sector by pressuring smaller, unorganised The ministry will oversee the development of national

manufacturers. standards, certify emissions reduction results and manage
The large ‘organised’ industries have captured market forestry sector mitigation targets, while provincial People's
share due to increased raw material costs and tightened Committees will be responsible for implementing projects,
credit which has squeezed the finances of small operators. managing local databases and submitting periodic reports.
Officials said the new legal framework is expected to
VIETNAM gradually establish a transparent and efficient forest carbon
New decree lays legal foundation for Vietnam's forest market, mobilising additional financial resources for forest

carbon market protection and sustainable development, improving local
A new Government decree regulating forest carbon sequestration livelihoods and supporting Vietnam's goal of achieving net
and storage services will establish a unified legal framework zero emissions by 2050.
for forest carbon credits, laying the groundwork for national In related news, the Ministry of Finance (MoF) and the
standards and a transparent carbon market that supports
Vietnam's emissions reduction commitments, forestry officials
said on Thursday.
Speaking at a conference introducing the Government’s Wikimedia Commons
decree on forest carbon sequestration and storage services

as well as a draft National Standard for Forest Carbon Credits
on Thursday, Pham Hong Luong, deputy director of the
Department of Forestry and Forest Protection, described the
decree as a milestone for carrying out the Forestry Law and
developing a domestic forest carbon market.
Issued on 21 May, the decree will took effect on 15 July.
It comprises four chapters, 20 articles and six appendices