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Waugh Thistleton Architects reduce greenhouse gas emissions in forestry will make an
important contribution to implementing Vietnam's emission
reduction goals and creating additional financial resources
from carbon credit purchasing, exchange and trading activities

in domestic and international carbon markets.
Currently, the Government is building a domestic carbon
market and when it comes into operation, it will open
up opportunities to buy, sell, exchange and trade carbon
credits between businesses, promoting investment to reduce
From an investor's perspective, according to Mr. Nguyen greenhouse gas emissions and increase carbon absorption
Ngoc Tung, Director of VinaCarbon Climate Impact Fund, the in forestry activities.
wood industry has great potential in creating carbon credits to
compensate for other industries and help Vietnam reach net Need to proactively and actively ‘go green’

zero emissions by 2050. Vietnam has more than 14 million Vietnam has policies which will eventually create a sustainable
hectares of forests, of which nearly half are production forests. forestry sector that meets market requirements.
According to Mr. Tung, if wood industry enterprises are The major policy directions for forestry development by
aware that investing in sustainable development and reducing 2030 are to achieve the goal of one million hectares of forest
emissions is an inevitable and necessary trend that must be certified for sustainable forest management, 100 percent of
implemented, their revenue will not only come from wood wood and wood products for export and domestic consumption
processing activities and forest products but also from will be harvested from legal and sustainable sources.

carbon credits. To achieve the stated goals the National Forest Certification
At the same time, investing in reducing emissions for System (VFCS) was established under the Decision No. 1288/
the wood industry also means that businesses comply with QD-TTg dated 1 October 2018 and recognised by the PEFC
international regulations on sustainable forest management and managed and operated by the Office of Sustainable
and exploitation, thus, it will increase competitiveness and Forest Management Certification.
the ability to penetrate markets like the EU, bringing higher Since officially operating in 2020 the Vietnam Forest
value to businesses' exports. Certification system has made an important contribution in
Vu Tan Phuong, Director of the Vietnam Forest Certification implementing sustainable forestry development goals, meeting
Office (VFCO), also said that the results of the national market requirements, enhancing the Vietnamese wood brand,

greenhouse gas inventory and calculation of gas emissions in and promoting trade in forest products and improve the
forestry show that the forestry sector is the only sector with capacity of relevant parties.
negative net emissions, i.e. the amount of carbon absorbed From the perspective of a consulting unit, Mr. Tran Duc
by forests is greater than the amount of carbon emitted. Tri Quang, Data Director of FPT IS shared the view that the
During the period 2010-2020 the average annual net process of creating carbon credits has three main steps,
emissions in forestry was about negative 40 million tonnes including baseline emissions assessment of three years before
of CO2 equivalent. project implementation; emission reduction assessment and

In addition to the benefits that forests are bringing to credit estimation from the second year; assess feasibility,
production activities, the implementation of measures to complete registration, independent assessment.