Potential for the exploitation of carbon credits from coconut trees

The unit was considering the approval for the implementation of scientific and technological tasks on "Building map on space distribution, carbon evaluation, and Co2 absorb capabilities on coconut biomass of Tra Vinh province" on July 26, according to Tran Van Ut, Deputy Director of the Department of Science and Technology of Tra Vinh province. This initiative gradually leads to the industry's participation in the carbon market.

Tam reports that recent research conducted by Can Tho University indicates that a single hectare of coconut trees that are 10 years old can absorb approximately 70-75 tons of CO2.

The coconut industry can generate substantial revenues from the sale of carbon credits in the future if the price is comparable to that of forest carbon credits (5 USD per ton of CO2).

Mr. Tam reports that Tra Vinh currently boasts the second-largest coconut area in the nation, following Ben Tre, with an annual output of approximately 444 million fruits and 27,390 hectares. The coconut industry's participation in the carbon market will enhance the quality of life for rural residents and generate additional income.

The Provincial People's Committee has been upgrading the value chain for many years by implementing coconut, which is one of the important crops of the locality, according to the Deputy Director of the Department of Science and Technology of Tra Vinh province.

The province conducts investment promotion and development activities on a regular basis to foster and strengthen relationships between businesses and coconut agricultural households. This is aimed at ensuring that the production, processing, and consumption of products meet international standards and are suitable for the export market.