Carbon credit project
from Forests in
Hai Phong City

~11,000

total forest area implemented

~ 50,400

tCO₂e

emission reductions per year

~ 37,800

VCU

issued annually

Public–Private Partnership (PPP):

no financial risk for the local government

Hai Phong City pioneers

Forest Carbon credit development

The project is implemented by CCTPA in collaboration with the Hai Phong City People’s Committee, aiming to reduce greenhouse gas emissions and enhance carbon sequestration through afforestation on degraded lands, mangrove forest development, conservation and restoration of natural forests and mangrove ecosystems. The initiative contributes to advancing sustainable development goals at the local level.

The project not only contributes to emission reductions but also generates high-quality carbon credits under the international Verra (VCS) standard, creating opportunities to commercialize these credits in the global carbon market.

Objectives and impact

Key objectives:

Reduce greenhouse gas emissions and generate internationally certified carbon credits.
Develop a sustainable forest management model that enhances natural carbon sequestration.
Enhance access to carbon finance for Hai Phong City.
Directly contribute to Vietnam’s Net Zero 2050 target.

Multi-dimensional impact:

Environment: Reduces over 50,400 tCO₂e per year.
Economic: Generates stable revenue from carbon credits and increases the economic value of forest resources.
Social: Creates green jobs linked to forest protection and enhances community awareness of forest conservation and sustainable forest development.

Project types

REDD+:

Reducing emissions from deforestation and forest degradation through forest protection and sustainable forest management in areas at risk of degradation.
Project scale: ~10,200 ha, generating nearly 19,000 carbon credits (VCUs) per year.

ARR:

Enhancing carbon sequestration and storage through afforestation, reforestation, and vegetation restoration on degraded or non-forested lands.
Project scale: ~240 ha, generating over 3,600 carbon credits (VCUs) per year.

Blue carbon:

Enhancing carbon sequestration and storage through the conservation and restoration of blue carbon ecosystems (mangrove forests, seagrass meadows, and coastal wetlands).

Project scale: ~600 ha, generating ~15,200 carbon credits (VCUs) per year.

Carbon credit potential

Total emission reduction
potential:

~50,400 tCO₂e/year

Applicable standards

Verra – Verified Carbon Standard (VCS)
Methodology: VM0048, VM0047, VM0033

MRV process
(Measurement, Reporting, Verification):

Utilizing the Catalyst platform together with UAV and AI technologies to automate the entire process, ensuring transparency, accuracy, and international verifiability of data.