BPP Partnership Impact Series: Promoting nature-based solutions through afforestation carbon projects in Vietnam
Since its launch, the Business Partnerships Platform (BPP) has worked with ambitious partners to deliver meaningful, lasting change in communities across the world. The BPP Partnership Impact Series celebrates the outcomes and lessons from our partnerships, highlighting their contributions to inclusive economic growth, resilience and sustainable development.
Our Carbon Markets partnerships in Vietnam were launched to promote the growth of sustainable carbon markets that deliver significant social and environmental benefits to communities in Vietnam. This partnership, which concluded in early 2025, promoted Nature-based Solutions (NbS) carbon projects in Vietnam by using afforestation projects in Vietnam as a model, building capacity for future forest management and jurisdictional REDD+ (Reducing Emissions from Deforestation and Forest Degradation) initiatives and creating pathways for inclusive community benefits.
Growing carbon in forests
Since 2022, South Pole, Energy and Environment Consultancy Joint Stock Company (VNEEC) and the Australian Government have partnered through the BPP to explore and develop high-integrity nature-based, forest carbon projects in Vietnam. Together, they set out to turn early ideas into credible carbon projects and strengthen the systems needed for transparent, inclusive carbon markets.
With BPP support, the partnership completed feasibility studies on a range of approaches, from afforestation and reforestation (A/R) to improved forest management (IFM) and wetlands restoration. It held consultations with local communities and provincial governments to align plans with regional priorities, and in May 2024 signed Memorandums of Understanding with the Departments of Agriculture and Rural Development in Thua Thien Hue and Tuyen Quang.
Two detailed carbon project designs were prepared in line with international carbon certification standards (Gold Standard and Verra): one for A/R in Thua Thien Hue, restoring degraded land with native species; and another for IFM in Tuyen Quang, extending harvest cycles and strengthening forest health. The Thua Thien Hue and Tuyen Quang projects have potential to result in the enhanced removal of 5,800 tCO₂e/annum and 27,185tCO₂e/annum respectively, based on preliminary estimates.
The team built local skills through training and support and helped inform Vietnam’s policy and legal frameworks creating a strong base for the work to move forward.
About the partnership
Vietnam’s forests are central to both climate action and community livelihoods but turning that potential into credible carbon projects has been a challenge. High upfront costs, limited private sector involvement and evolving rules on carbon rights and approvals have slowed progress.
This BPP partnership set out to bridge that gap by piloting scalable models for afforestation/reforestation and improved forest management in the Thua Thien Hue and Tuyen Quang provinces. Rather than just delivering projects, it also focused on building the systems needed for future growth, from project design meeting international certification standards requirements (Gold Standard and Verra), to knowledge-sharing and capacity building on benefit-sharing, monitoring, reporting and verification (MRV), and safeguarding frameworks.
The outcome is a stronger platform for Vietnam to expand high-integrity Nature-based Solutions, attract long-term investment and ensure that communities benefit as the country builds its carbon markets.
Highlights
During the BPP partnership period, highlights included:
- Designing two pilot projects: Prepared full project designs for A/R in Thua Thien Hue and IFM in Tuyen Quang, both meeting international certification standards.
- Engaging stakeholders: Held local consultations with forestry companies, provincial governments and communities to align projects with regional priorities and ensure transparency.
- Building partnerships: Signed Memorandums of Understanding with provincial Departments of Agriculture and Rural Development in Thua Thien Hue and Tuyen Quang to support long-term implementation.
- Strengthening capacity: Delivered training on forest MRV, safeguards, and benefit-sharing, helping local partners prepare for project rollout.
- Laying the groundwork for impact: Early estimates show strong enhanced carbon removal potential, with Thua Thien Hue and Tuyen Quang projected to enhance the removal of 5,800 tCO₂e/annum and 27,185tCO₂e/annum respectively.
View the full partnership impact story below or download here.
