Quang Nam exploits and promotes advantages from biodiversity

In 2021, Quang Nam was approved by the Prime Minister as the first locality to implement the Forest Carbon Credit Trading Pilot Project. In 2024, Quang Nam will continue to be the first locality selected to host biodiversity activities.

Quang Nam aims to develop ecotourism associated with biodiversity conservation

Expectations from carbon credits

According to data from the People's Committee of Quang Nam province, by the end of December 2023, Quang Nam was one of the localities with the highest forest coverage rate in the country. Specifically, in 2022, the province's forested land area was 680,806.4 hectares, with a forest coverage rate of 58.71% (including 463,530.46 hectares of natural forest and 217,275.94 hectares of planted forest).

Quang Nam is also a locality with potential to implement measures to reduce greenhouse gas emissions and increase carbon stocks from forests. During the period 2005 - 2016, Quang Nam's forests emitted 4,233,930 tCO2e/year and absorbed 3,295,389 tCO2e/year; the average annual net emissions were 938,541 tCO2e/year.

Estimated annual emissions and removals for the period 2019 - 2030 are 3,789,589 tCO2e/year and 4,476,445 tCO2e/year, respectively, with an average annual net removal of 686,856 tCO2e/year.

Thus, the province's forest emission reduction potential is 533,341 tCO2e/year and the absorption potential is 1,181,056 tCO2e/year.

With the goal of creating sustainable financial resources to protect and improve the quality of existing natural forests and develop forests in a sustainable manner, in 2018, the Provincial People's Committee developed and approved the Action Plan (REDD+) of Quang Nam province.

Based on the REDD+ dossier, along with technical support from the Green Annamites Project, funded by the United States Agency for International Development (USAID), the People's Committee of Quang Nam province has prepared a Feasibility Assessment Report on investment opportunities in carbon from REDD+ and attracted the attention of many investors and potential buyers such as BP Company and Terra Global Company.

At the same time, Quang Nam also developed a Project to submit to the Prime Minister and was agreed on the policy for the province to research and establish a pilot project on forest carbon credit trading (in Official Dispatch No. 3479/VPCP-NN, dated May 26, 2021 of the Government Office).

However, the Pilot Project on forest carbon credit trading from greenhouse gas emission reduction through combating deforestation and forest degradation; sustainable management of forest resources; conservation and enhancement of forest carbon stocks in Quang Nam province has not been approved.

The reason, according to Mr. Ho Quang Buu, Vice Chairman of Quang Nam Provincial People's Committee, to sell carbon credits, they must be evaluated by an international organization (how many million tons have been sold) for the credits to have value.

According to Mr. Buu, there are currently only 4-5 evaluation organizations in the world, but these units must be "invited to work", they do not participate by bidding, while the selection of evaluation organizations must be carried out according to the provisions of the Bidding Law. Quang Nam has applied for a pilot program to designate a consulting unit, but is stuck in regulations.

In addition to the problem of consulting units, Mr. Le Tri Thanh, Chairman of Quang Nam Provincial People's Committee, mentioned that the legal corridor and legal regulations on selling carbon credits are still incomplete and unclear, so there is no consensus among ministries and branches. The Government is urgently directing to remove legal obstacles and develop regulations in accordance with international practices.

“Although the Government has chosen Quang Nam as one of the localities to pilot the sale of carbon credits on the free market, the People's Committee of Quang Nam province has not yet been able to officially implement it due to the above-mentioned problems,” said Mr. Thanh.

Another reason also mentioned by the Provincial People's Committee is that Quang Nam is the first pilot locality, so it does not have experience and does not have the technical and financial resources to carry out carbon credit business.

In the coming time, according to the People's Committee of Quang Nam province, the province is ready to cooperate with investors after overcoming difficulties and obstacles. In particular, focusing on completing project documents to ensure compliance with the latest version of VCS and CCB standards, submitting for approval, issuing credits to be able to sell carbon credits at high prices; at the same time, promoting the approval process of the Government's Project.

“If carbon credits can be sold, we will earn more than 100 billion VND each year. Provincial leaders will use this money to develop forests, not for other purposes,” said Mr. Ho Quang Buu.

It is known that according to the content of the Project of Quang Nam province, by 2026, 6.1 million verified forest carbon credits will be created and issued for the period from 2018 to 2025. Of which, the period 2024 - 2025 is 2.1 million credits.

Pioneer in biodiversity

Along with carbon credits, Quang Nam is also a locality with rich natural ecological environment conditions, high biodiversity, and many landscape and economic values.

Currently, the province has 8 established nature reserves, including part of Bach Ma National Park (with Thua Thien Hue); Song Thanh National Park, Sao La Species and Habitat Conservation Area; Elephant Species and Habitat Conservation Area; Ba Na - Nui Chua Nature Reserve (with Da Nang); My Son Historical and Cultural Relic Landscape Protection Area; Cu Lao Cham Marine Reserve.

The Chairman of the Quang Nam Provincial People's Committee shared that biodiversity is a content that the Government highly welcomes, the Ministry of Natural Resources and Environment creates all conditions to coordinate with Quang Nam province. In the issue of development, maintaining, protecting and restoring ecosystems and biodiversity is of great significance, not only for each country, but this is also the United Nations' message on biodiversity restoration.

According to the head of Quang Nam provincial government, biodiversity restoration associated with ecological environment protection is very important in the current period. We should not focus too much on socio-economic development but neglect environmental issues, biodiversity, and ecosystem conservation.

Regarding the reason why Quang Nam province is the first locality to host biodiversity activities, Mr. Le Tri Thanh explained that in recent times, Quang Nam has paid great attention to this issue and has implemented many practical activities to maintain, protect and restore the ecosystem from forests along the river system to the sea and islands.

“Over the past time, Quang Nam has always persistently pursued a green growth strategy for inclusive and sustainable development,” Mr. Thanh affirmed.

The Ministry of Natural Resources and Environment highly agreed to propose the Prime Minister to approve Quang Nam to host the “National Biodiversity Restoration Year - Quang Nam 2024”. This activity will contribute to implementing Vietnam's commitments at the 15th Conference of the Parties to the Convention on Biological Diversity (COP15) taking place in Montreal (Canada) in 2022, which affirmed that “Vietnam continues to actively participate in common efforts to conserve global biodiversity”.

Ms. Le Thuy Trinh, Deputy Director of the Department of Natural Resources and Environment of Quang Nam, informed that "National Biodiversity Restoration Year - Quang Nam 2024" is an environmental event of national and international scale, contributing to raising awareness of all levels, sectors, as well as people about the importance of biodiversity conservation.

In addition, in the Quang Nam Provincial Planning for the period 2021-2030, with a vision to 2050 approved in Decision No. 72/QD-TTg, dated January 17, 2024, the content of the plan for nature conservation and biodiversity is also focused on.

The planning has concretized the viewpoint of not trading the environment for economic development. It encourages green economy, circular economy, and harmony between environmental protection and development.

Accordingly, localities are oriented to protect, promote the value and sustainably use established national and international natural ecosystems, including national parks, nature reserves; species and habitat conservation areas; landscape protection areas of cultural and historical relics and special-use forest systems, coral reefs, seagrass beds and mangrove forests.

Along with that, Quang Nam is planning to establish a new Grey-shanked Douc Species and Habitat Conservation Area in Tam My Tay; Green Lim Nature Reserve; Chien Thang Landscape Protection Area in Nui Thanh and Nam Tra My; Lower Thu Bon River Wetland Conservation Area; Tam Hai Marine Conservation Area.

Source