Promoting nature-based solutions through afforestation carbon projects in Vietnam
59%
41%
Partner contribution
$ 553,000
DFAT contribution
$ 400,000
Total Value
$ 953,000
Start: November 2022 - End: November 2024
South Pole
South Pole is a leading climate project developer and solutions provider. Since its creation in 2006, it has developed nearly 1,000 projects in over 50 countries to reduce over one gigaton of CO2 emissions, and to provide social benefits to communities who are particularly vulnerable to climate change. Projects range from sustainable agriculture, forest conservation, afforestation, and reforestation, as well as waste management.
VNEEC
Energy and Environment Consultancy (VNEEC) is a leading consultancy company in Vietnam in the field of climate change & GHG emission mitigation, ozone layer protection, green growth & sustainable development, renewable energy & energy efficiency.
Australian Department of Foreign Affairs and Trade
The Australian Department of Foreign Affairs and Trade works with international partners and other countries to tackle global challenges, increase trade and investment opportunities, protect international rules, keep our region stable and help Australians overseas.
A partnership to promote Nature-based Solutions carbon projects in Vietnam and support the enabling environment for Jurisdictional and Nested REDD+ projects, using existing afforestation projects in Northwest Vietnam as a model. The partnership will work to strengthen individual and institutional capacity to implement carbon projects, through on-the-ground assistance, training and technical support – building a sustainable pathway for future forest management and carbon projects.
Context
Nature-based solutions (NbS) reduce, remove or avoid greenhouse gas emissions by protecting, managing or restoring natural environments. Estimates suggest the NbS could provide up to 30% of the mitigation that is needed by 2030 to stabilise global warming below 2 degrees Celsius. NbS can help protect vulnerable communities from the impacts of climate change, while also contributing to economic and social development through the provision of jobs, improved health, food and water security, and improved environments.
There is a lack of NbS carbon projects in Vietnam. This is reflective of the many challenges faced by actors wishing to implement these types of projects, including low levels of private sector investment, and a lack of private sector capacity to take NbS projects to completion.
About the initiative
The partnership aims to develop high-quality and scalable NbS projects, using existing Afforestation, Reforestation and Revegetation (ARR) projects in Bac Kan and Tuyen Quang Provinces in Northwest Vietnam as a model. The partnership will work to strengthen individual and institutional capacity in carbon project initiation and development, forest management.
The initiative aims to support re-establishing the initial stages of Jurisdictional and Nested REDD+ (JNR) projects with selected provincial governments, namely the establishment or development of an integrated REDD+ institutional framework and establishment or development of REDD+ practices at the subnational level.
Sharing benefits with local communities
The initiative will consult with local stakeholders to establish a profit-sharing mechanism as part of the project, to ensure that national and provincial governments, local communities and the private sector benefit from an inclusive project development process – through a range of non-carbon social and environmental benefits, including income generation, ecosystem protection, enhanced food security, and transparent and participatory forest management practices.
Key contributions from partners:
- South Pole will review and support project development and implementation, undertake partnership reporting and monitoring and evaluation responsibilities, engage with government and provide technical expertise.
- VNEEC will coordinate project development and implementation, including stakeholder engagement, feasibility assessment, carbon credit registration and project monitoring.
- Australian Department of Foreign Affairs and Trade provides catalytic funding and can offer expertise to strengthen social and commercial impacts, connection to an extensive network, support to capture and report social impact, and national and global recognition.
Hear from our partners
“Nature-based solutions can provide over one-third of the cost-effective climate mitigation we need between now and 2030. So working with nature rather than against it and scaling NbS is an important way to enable governments, businesses, and society as a whole to have a true climate impact. As one of the countries most affected by global warming, Vietnam can benefit from the incredible potential that NbS offers in reducing emissions, but also in boosting their resilience in adapting to changing weather patterns. We are proud to be working alongside our partners at VNEEC, BPP, and the Australian Department of Foreign Affairs and Trade to establish successful approaches to capture these opportunities.” Ladaporn Khunikakorn, Regional Director Climate Projects, Southeast Asia and Australia, at South Pole.
“Vietnam is highly vulnerable to climate change. The country also has large forest cover and is active in reducing greenhouse gas emissions and increasing carbon sequestration from the forestry sector. Nature-based solutions can be a good source of finance for Viet Nam to address climate change impacts and pursue low-carbon, sustainable development. VNEEC is looking forward to working with our partners through our participation in the partnership.” Tran Minh Tuyen, Director, Energy and Environment Consultancy Joint Stock Company, Vietnam.