The prime minister has assigned relevant ministries and agencies to compile a draft regulation introducing the forest environment and CO2 indexes in accordance with the regulation that localities developing industrial projects and emitting CO2 will be charged based on their forest environment index. Prof. Pham Van Dien, deputy director general of the Vietnam Administration of Forestry (VNFOREST), told VIR about the principles these indexes need to incorporate and how they will help build out the carbon market in Vietnam. Prof. Pham Van Dien, deputy director general of the Vietnam Administration of Forestry (VNFOREST). What are the principles to build forest environment and CO2 indexes? The forest environment index would be a measure of the capacity to decrease CO2 emissions while simultaneously increasing absorption. A key part of this is forest carbon stock, the amount of carbon that has been sequestered from the atmosphere and is stored within the forest ecosystem. Comparing the forest environment index with actual emissions will help set payments for reducing emissions and establish a market for international emissions trading for sellers, buyers, and intermediaries alike. Regarding the CO2 index, I believe there are two theoretical avenues that can be taken. The index can either concern the carbon… Read full this story
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