Development orientation of carbon credit market in Dien Bien province

Delegates attending the workshop on carbon credit market in Dien Bien province.

Dien Bien province will have many opportunities in the policy of developing the carbon credit market ( a type of license that allows the owner to emit carbon dioxide or other greenhouse gas emissions ), when the province has a large area of natural forest, a low urban rate and a low proportion of industrial development to realize green transformation along with digital transformation in urban and industrial development. Currently, the province has an estimated urbanization rate of 27%; the proportion of industry - construction accounts for nearly 27% of GRDP with some main industries including: hydropower, construction materials production, mineral exploitation... These are some industry groups with high emission rates.

At the workshop, delegates exchanged and discussed: Urban development, green and smart industrial zones; digital data strategy for building carbon credits; opportunities and challenges for developing the carbon credit market in Dien Bien province (such as Dien Bien has potential and advantages for developing tourism, agriculture, forestry, hydropower, large forest reserves, etc.). Delegates exchanged solutions for planning and designing industrial zones and clusters associated with the provincial carbon credit market; solutions for developing afforestation projects; smart infrastructure to attract investment for businesses to develop sustainably towards Netzero. The goal is to reduce greenhouse gas emissions and enhance sustainable economic development, joining hands in the fight against climate change.

The workshop contributed to building and supplementing methodologies and practical experiences for the province's sustainable development goals for the period 2021 - 2030 with a vision to 2050. At the same time, it opened up directions for developing the provincial carbon market, such as: Building and promulgating regulations on promoting and managing the carbon market based on legal provisions; building plans and preparing necessary conditions to be ready to participate in the domestic and international carbon trading market. Building and promulgating plans to implement measures to mitigate impacts and adapt to climate change for each industry and field. Conserving and restoring wetlands to store carbon; strengthening forest protection and development, creating carbon credit sources; participating in carbon projects.

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