Vietnam Danang City Applies to Join Carbon Credit Market
Vietnam’s central Danang City has applied for a pilot sale of carbon credits as it realized the huge potential of the world’s carbon credit market, local media reported.
The city is initially building a greenhouse gas inventory and management process to reduce emission intensity and minimize climate change impacts.
Danang City’s carbon credit potential is highly valued with more than 63,000 hectares of forest, including over 43,000 hectares of natural forests. The city’s forest coverage rate is 45.5%.
The municipal industries are estimated to cut down over 860,000 tons of CO2 emissions by 2030 and 26 million tons by 2050.