Carbon credit revenue distributed to localities

Localities will allocate the amount to people and communities that signed contracts to protect and manage the forests. — Vietnam News

HANOI: Around 80% of the US$51.5mil that Vietnam has received as payment from the World Bank for verified emissions reductions – carbon credits – has been distributed to six north central provinces, according to Deputy Minister of Agriculture and Development Tran Quang Bao.

The remaining 20% of the revenues for reducing 10.3 million tonnes of carbon dioxide (CO2) in the 2018-24 period will be distributed to the localities in the next one to two months.