Vietnam: a responsible member in dealing global environmental issues

On November 2nd in Glasgow (Scotland), the Ministry of Minister of Agriculture and Rural Development Le Minh Hoan had a number of meetings with development partners to promote cooperation in sustainable development, green growth, response to climate change, and conservation of biodiversity and natural resources on the occasion of Prime Minister Pham Minh Chinh's attendance at the 26^th UN Climate Change Conference of Parties (COP26).

At the meeting with Mr. Carter Roberts, President and CEO of the World Wildlife Fund in U.S. (WWF-US), Minister Le Minh Hoan highly appreciated the technical support and two USAID funded important projects that are being implemented under the cooperation of MARD and WWF, including the USAID Biodiversity Conservation and the USAID Saving Threatened Wildlife. The activities that have been under implementation are concrete evidence of the close and effective coordination from both parties.

The MARD Minister said that in the context of COP26 focusing on climate change mitigation and adaptation, the Vietnam MARD would promote strategic cooperation in the coming period regarding solutions for climate adaptation, development of ecological agriculture, agricultural landscapes associated with the livelihoods of people. The Minister emphasized the importance of information sharing and jointly developing project proposals for the Green Climate Fund as well as the Environment Fund with other bilateral donors to mobilize resources for Vietnam.

Mr. Roberts Carter expressed his delight in the accomplishments Vietnam has achieved along with the constructive cooperation between WWF and Vietnamese partners. The two parties agreed to prepare a Strategic Cooperation Framework between WWF and the Vietnam MARD in preparation for signing during the visit of the WWF-US President to Vietnam in early 2022.

At a meeting with New Zealand Global Research Alliance on Agricultural Greenhouse Gases (GRA), Mr. Chris Carson, New Zealand Head of Negotiator at COP26 said that New Zealand is closely cooperating with Vietnam to implement the strategic partnership framework between the two countries.

Both sides have been and will continue to jointly organize a Policy Dialogue within the framework of the Global Research Alliance on Agricultural Greenhouse Gas; research and develop a set of tools to calculate greenhouse gas emission reduction for the husbandry sector; support Vietnam in research and development activities and become a center for data information and innovation in technology to reduce greenhouse gas emissions in agricultural production in the region.

Minister Le Minh Hoan emphasized that developing and protecting the green planet is the responsibility of all nations, and Vietnam has always been a responsible member of the international community in protecting the global environment and reducing emissions. Vietnam is ready to become the center of Southeast Asia emission reduction support research and development system.

Minister Le Minh Hoan also had a private discussion with Mr. Eron Bloomgarden, Executive Director of the Organization for Forest Finance Accelerator (Emergent) - the trustee of the Lowering Emissions by Accelerating Forest finance (LEAF) Coalition that had signed a Letter of Intent (LOI) with the Vietnam MARD.

With this Letter of Intent, Vietnam will transfer to LEAF/Emergent in the first phase 5.15 million tons of CO₂ emission reduction from forests in the South Central region and Central Highlands in the 2022-2026 period.

LEAF/Emergent will pay for this service with a minimum price of USD 10/ton of CO₂, resulting in a total value of USD 51.5 million. This amount of CO₂ transferred is yet commensurate with the registered emission reduction commercial forest areas proposed by Vietnam (4.26 million ha, including 3.24 million ha of natural forest and 1.02 million ha of plantation forest).

The implementation of this LOI contributes to protecting the existing forest area and widening the forest coverage in the South Central region and Central Highlands; improving forest quality through afforestation, forest restoration, strengthening of the protection function and ecological value of the forest, and mitigation of impacts from climate change; being able to use up to 100% of the total amount of emission reduction concessions under the ERPA to fulfill Vietnam's commitments in implementing the Paris Agreement and Vietnam's Nationally Determined Contribution (NDC); demonstrating the high vision and responsibility of Vietnam together with the international community in the efforts to adapt and mitigate climate change for sustainable development.

Mr. Eron Bloomgarden highly appreciated the determination and efforts of the Government of Vietnam and the MARD in forest protection and development, emissions reduction, and assurance of sustainable livelihoods for the people. These will serve as the foundation for LEAF/Emergent to choose Vietnam as the first country to sign the Letter of Intent on reducing emissions through forest finance acceleration.

Mr. Eron Bloomgarden said that the LEAF Coalition has now sufficiently raised USD 1 billion to implement the Letter of Intent with selected countries. The Emergent Executive Director also affirmed that he would continue to introduce Vietnam with potential partners to provide technical assistance, increase carbon trade, help reduce emissions and enhance livelihoods for the people.

Minister Le Minh Hoan emphasized at all meetings the golden opportunity for Vietnam's agriculture to promote sustainable development, reduce emissions, respond to climate change, promote agricultural green growth, and improve the livelihoods and quality of life for the people along with the international community's commitment to protecting the global environment at COP26.

The Minister affirmed that Vietnam is a responsible member in relation to global environmental issues and will develop the agriculture industry in the direction towards responsibility - transparency - sustainability.