The Central Highlands have more than 2.57 million hectares of forest, accounting for 17.5 percent of the country’s forested area, with a region-wide forest cover ratio of 45.94 percent. Despite efforts by local authorities in recent years to implement various forest restoration measures, results have fallen short of expectations.
Forestry experts emphasize the need to address the economic challenges associated with forest restoration in the Central Highlands. In concrete terms, unlocking the potential of carbon credits offers significant economic benefits and can help alleviate the obstacles facing the forestry sector.
Following the government’s decision to officially close the forests, numerous forestry companies and forest owners have faced challenges as they grapple with unresolved economic issues surrounding forestry. Given existing forested areas, developing carbon credits means unlocking the ‘gold mine’ of natural resources that forest owners have long hoped to benefit from.
Carbon reservoir
Lam Dong is among the provinces with a forest coverage rate of 54.37 percent (as of 2023), with a total area of 537,696 hectares. Within this area, natural forests cover 454,674 hectares, while reforested land that has matured covers 77,157 hectares, leaving over 6,137 hectares of reforested land that has not yet matured. Traveling along the national and provincial highways that connect Lam Dong to neighboring provinces such as Dong Nai, Binh Thuan, Ninh Thuan, Khanh Hoa, Dak Lak and Dak Nong, you may encounter vast stretches of pristine forests, coniferous forests and bamboo forests with dense cover . be easily noticed.
Since 2004, when the Bidoup-Nui Ba Nature Reserve was designated as Bidoup-Nui Ba National Park, the protection of forest resources and the conservation of biodiversity have been among the main priorities. According to Mr. Le Van Huong, Director of Bidoup-Nui Ba National Park, the park, with its nearly 70,000 hectares of area located in the heart of the vast natural forests of the Langbiang Plateau, is recognized as one of the most important areas for the maintenance of national ecological standards. Furthermore, due to its predominantly pristine forest ecosystem, Bidoup-Nui Ba National Park has significant potential to actively participate in the carbon market.
Along National Highway 27 towards Ta Dung National Park in Dak Nong Province lie dense, interwoven primeval forests adorned with a variety of valuable timber species. Mr Khuong Thanh Long, Director of Ta Dung National Park, said the park covers approximately 21,000 hectares of natural land, with more than 85 percent of the core area covered (consisting of more than 48 percent primary forests and more than 36 percent secondary forests of different types). ). With its vast natural forest cover, Ta Dung National Park is considered an important carbon sink.
Professor Bao Huy, a consultant specializing in forest management and environmental management, explains that each forest carbon credit represents the reduction or elimination of one ton of carbon dioxide or its equivalent in other greenhouse gases. The carbon accumulation capacity varies depending on the characteristics and conditions of each forest type.
Currently, the Central Highlands forests are recognized for their rapid recovery and growth potential, leading to significant accumulation of carbon stocks. Establishing carbon credits and participating in carbon trading is expected to bring significant benefits to forest owners.
Similarly, moving north into the Central Highlands, numerous lush primary forests can also be seen, especially in the Chu Mom Ray National Park in Kon Tum Province, which covers approximately 58,000 hectares, of which 56,000 hectares are designated as special use forests .
Mr. Dao Xuan Thuy, Director of Chu Mom Ray National Park, informed that in the park’s sustainable forest management plan for the period 2021-2030, the managed area is estimated to contain about 3 million forest carbon credits. If these credits are sold, they will provide a significant and sustainable source of income to reinvest in forest management and protection activities.
Great expectations
Looking at the vast green forests, the director of Chu Mom Ray National Park said carbon credits are still relatively new and detailed implementation guidelines have yet to be fully developed. Some companies have inquired with the province about the prospect of investing capital in partnership with forest management authorities to promote sustainable reforestation on wastelands and establish carbon credits for both planted and natural forests in Kon Tum province.
The unit hopes that the project can be realized to strengthen sustainable income streams. In the near future, the park plans to roll out a project to research and assess its stock of carbon credits, which could serve as a basis for future transactions and partnerships, he said.
Echoing this sentiment, Mr. Truong Quoc Dung, head of Krong Pa Forest Protection Unit in Gia Lai Province, revealed that the region’s forested areas that can generate carbon credits are 70,000 hectares. If successfully sold, these credits would provide a substantial source of revenue to support forest management and conservation efforts. Therefore, forest owners are eagerly awaiting the implementation of the carbon credit project, which would provide them with additional resources for forest protection.
According to Mr. Dinh Van Dung, secretary of the Chu Prong District Party Committee in Gia Lai Province, the forest area within the district covers about 60,000 hectares, mainly concentrated along the Cambodian border. The majority of these forests are currently managed under individual household arrangements. If carbon credits can be successfully sold, these forests will receive greater protection, promoting a greener environment, conserving water resources, improving air quality and encouraging agricultural and tourism development.
Local residents will enjoy improved livelihoods and contribute to maintaining peace along the border. Therefore, there is a strong desire among the provincial government, relevant ministries and departments to immediately assess and survey forest areas to develop a roadmap for the sale of carbon credits, with the aim of benefiting local people and boosting efforts to support the field of forest management and nature conservation.
Forest carbon credits are determined by the amount of carbon dioxide generated by activities aimed at reducing greenhouse gas emissions, such as combating deforestation and preventing forest degradation, sustainable forest management, nature conservation and increasing the carbon stock in forests. Forest owners can convert the forest area they manage and protect into carbon dioxide absorption capacity, issue carbon credits and sell them.
SGGP
