Discussing solutions for the rice industry to participate effectively in the carbon market

SGGPO 08/24/2023 11:47

On August 24, in Can Tho City, the International Rice Research Institute (IRRI) in collaboration with the Institute of Policy and Strategy for Agriculture and Rural Development, Department of Crop Production (Ministry of Agriculture and Rural Development) organized a workshop on "Multi-stakeholder dialogue on carbon markets in the agricultural sector".

Conference scene

At the workshop, local and international experts focused on discussing the following issues: Strategy and roadmap for carbon market development; sharing experiences on participating in and accessing carbon credit programs and carbon market operations; discussing challenges, opportunities and directions for carbon markets in the agricultural sector.

Discussing solutions for the rice industry to effectively participate in the carbon market photo 1

The Mekong Delta is working to help farmers use straw more efficiently to reduce emissions.

Dr. Tran Dai Nghia, Head of the Department of Natural Resources and Environmental Economics Research (Institute of Policy and Strategy for Agriculture and Rural Development), shared: "Recently, carbon credits have been a topic that has attracted great attention from all parties. Both voluntary carbon markets and internal carbon trading programs need a legal framework and standardized operating procedures."

The workshop aims to create a forum for stakeholders to exchange knowledge, information and experience, contributing to helping the rice industry better prepare for participation in domestic and international carbon markets. According to Dr. Katherine Nelson, climate change scientist and carbon market expert at IRRI Vietnam, the workshop theme is very consistent with Vietnam's recent commitments to reduce greenhouse gas emissions from all sectors.

The Vietnamese Government has signed the Global Methane Emission Reduction Commitment, aiming to reduce total methane emissions by 30% by 2030, of which a large part comes from agriculture, specifically rice production. Furthermore, this forum also contributes to the Government's project on "Sustainable development of 1 million hectares of high-quality rice cultivation associated with green growth in the Mekong Delta".

“IRRI has been working with the Institute of Policy and Strategy for Agriculture and Rural Development, the Department of Crop Production and other agencies under the Ministry of Agriculture and Rural Development to support this transition and identify ways for farmers to benefit from carbon markets in the rice sector,” added Dr. Nelson.

The workshop is an opportunity to promote discussions among representatives of state management agencies, research institutions, the private sector and relevant units on opportunities and challenges in accessing carbon markets; as well as the registration and approval processes for carbon credit projects in the agricultural sector.

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