Hanoi, March 7 -- The development of a forest carbon market is opening up significant opportunities for Vietnam's forestry sector to mobilise new financial resources for forest protection and development, while creating sustainable livelihoods for local communities, particularly in ethnic minority areas.

Initial outcomes from the forest carbon payment mechanism highlight the sector's strong potential to align forest conservation with economic benefits and sustainable development goals.

According to Pham Hong Luong, Deputy Director of the Vietnam Administration of Forestry and Forest Protection under the Ministry of Agriculture and Environment, the implementation of forest carbon payments through the Emission Reductions Payment Agreement...