International lessons learnt on designing and operating effective, efficient and equitable blue carbon market

18 tháng 4, 2024

This event is part of a series of activities commemorating the 60th anniversary of the establishment of Vietnam National University of Forestry (VNUF) - from 1964 to 2024. The conference aimed to share the current status of the international market for blue carbon credits, as well as to identify opportunities, challenges, and development prospects for Vietnam in the future.

Ms. Cecilia Brennan, Economic Counselor of the Australian Embassy in Vietnam, delivered welcoming remarks at the conference.

Over 100 participants from domestic and international organizations including government agencies, ministries such as Finance, Planning and Investment, Agriculture and Rural Development, Science and Technology, Natural Resources and Environment, universities, research institutes, Australian, Canadian, and Irish embassies, and international organizations attended the conference.


In the opening speech, Prof.Dr. Pham Van Dien and Prof. Andrew Lowe emphasized that Vietnam has a coastline of over 3,260km with approximately 200,000 hectares of mangrove forests. Mangrove forests play a crucial role in climate adaptation and mitigation, ensuring livelihoods and well-being of coastal communities. Mangroves have the capacity to absorb a significant amount of carbon, far exceeding that of terrestrial forests. Although mangrove forests account for only 0.7% of the total forest area worldwide, they can store 20 billion tons of CO2. The two professors also encouraged delegates to share and discuss orientations and initiatives for Vietnam's future development.


At the Conference, many experiences were shared and received the attention of delegates: Dr. Pham Thu Thuy "Blue carbon mangrove projects: A global overview"; Dr. Alice Jones "Blue carbon crediting projects: Early insights from the Australian perspective"; Prof. Sarah Wheeler "Identifying the co-benefits and methods for the valuation of blue carbon"; Dr. Bui Thi Minh Nguyet "Challenges for trading forest carbon credits – Determining the selling price"; Dr. Nguyen Trung Kien "Status and future planning for coastal and mangrove forests in Vietnam"; Dr. Alessia Cascione "Nature-based carbon opportunities in Vietnam: Assessment and Recommendation".

Mr. Pham Hong Luong, Deputy Director General of the Department of Forestry, Ministry of Agriculture and Rural Development, delivered closing remarks at the conference.

During the conference, scientists and researchers exchanged views and shared experiences on limitations, challenges, criteria, and methods for calculating mangrove carbon credits; trading blue carbon credits; participation, and rights of local communities. Experts noted that Vietnam has great potential in carbon credits but also faces challenges in carbon trading. Therefore, a clearer roadmap is needed for voluntary carbon markets.


In the closing speech, Prof.Dr. Pham Van Dien and Prof.Dr. Andrew Lowe acknowledged the valuable contributions and insights from delegates, affirming that the conference had contributed to establishing and maintaining a network of professional and academic exchanges among government agencies, international organizations, research institutions, and universities, proposing strategies, policies, solutions, and recommendations to enhance the trading of coastal ecosystem carbon credits specifically and carbon markets in general

Some pictures at the Conference


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