Late last month, Viet Nam was selected as one of 14 countries in the world to apply the mechanism to reduce emissions from deforestation and forest degradation (REDD).
Nepal, Laos, the Democratic Republic of Congo, Gabon, Ghana, Kenya, Liberia, Madagascar, Bolivia, Costa Rica, Guyana, Mexico and Panama were also selected.
Forest Carbon Partnership Facility (FCPF), an innovative approach to financing efforts to combat climate change, aims to achieve REDD by compensating developing countries for greenhouse gas emission reductions. Meanwhile, the industrialised countries, which include Australia, Finland, France, Japan, Norway, Spain, Switzerland, the United Kingdom and the United States, have committed to contribute about US$82 million to the FCPF.
Vuong Van Quynh, who will be in Ghana to represent Viet Nam in discussions with United Nations about applying REDD in the country, has high hopes for the mechanism.
He says forest destruction will be reduced when forest owners, meaning the local people, can be prevented from destroying them if they’re paid enough to support their lives.
