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Deputy Prime Minister Ho Quoc Dung emphasized the urgent promulgation of a Decree on forest carbon absorption and storage services to remove legal bottlenecks, and at the same time required promoting decentralization, simplifying administrative procedures, creating conditions for localities to proactively grant carbon credits and develop forest carbon markets. Download Deputy Prime Minister Ho Quoc Dung chaired the meeting - Photo: VGP/Gia Huy On the morning of May 4, at the Government headquarters, Deputy Prime Minister Ho Quoc Dung chaired a meeting on the development of a Decree regulating forest carbon absorption and storage services and an emissions reduction trading contract with the Forestry Finance Enhancement Organization (Emergent Organization). The meeting was attended by Deputy Minister of Agriculture and Environment (MARD) Nguyen Quoc Tri; Representatives of the ministries: Public Security, Finance, Justice, Foreign Affairs, Government Office... At the meeting, Deputy Prime Minister Ho Quoc Dung emphasized that forest carbon absorption and storage is one of 5 types of forest environmental services as prescribed in the 2017 Law on Forestry. However, it has not been implemented so far due to the lack of specific legal regulations. Therefore, the meeting aimed to discuss the Ministry of Agriculture and Environments acceptance report, explanations and proposals for the draft Decree regulating forest carbon absorption and storage services; Discuss the proposal of the Ministry of Agriculture and Environment on the issue of emission reduction trading. Download Deputy Minister of Agriculture and Environment Nguyen Quoc Tri speaking at the meeting - Photo: VGP/Gia HuyDecentralizing administrative procedures for granting forest carbon credits to localitiesReporting to the Deputy Prime Minister, Director of the Department of Forestry and Forest Protection (Ministry of Agriculture and Environment) Tran Quang Bao said that in Resolution No. 01/NQ-CP dated January 8, 2025 of the Government on the main tasks and solutions to implement the Economic Development Plan - Society and State Budget Estimates for 2025, assigned the Ministry of Agriculture and Environment to preside over the development of a Decree regulating forest carbon absorption and storage services. The Ministry of Agriculture and Environment has presided over and coordinated the development of a Decree regulating forest carbon absorption and storage services (draft Decree) in accordance with the order and procedures of the Law Promulgating legal documents, including developing, organizing consultation, posting drafts, organizing appraisal and submission. Government and Prime Minister draft Decree documents. According to the Ministry of Agriculture and Environment, the Decree was developed in compliance with legal regulations on promulgation of legal documents, ensuring constitutionality, legality, unity and synchronization in the legal system, in accordance with the policies and guidelines of the Party and State. The draft was also built to ensure consistency with relevant laws such as the Forestry Law, the Environmental Protection Law, regulations on reducing greenhouse gas emissions, carbon markets, finance, budget and international treaties to which Vietnam is a member. At the same time, continue to promote decentralization and decentralization of power to localities and simplify administrative procedures. The draft Decree includes 4 chapters and 20 articles, 6 appendices, regulations on subjects, forms of payment, payment levels and management and use of fees for forest carbon absorption and storage services; forest carbon project, determining greenhouse gas emission reduction results and forest carbon credits provided. Download Director of the Department of Forestry and Forest Protection (Ministry of Agriculture and Environment) Tran Quang Bao reported at the meeting - Photo: VGP/Gia Huy. Up to now, the Ministry of Agriculture and Environment has submitted a document to the Government and Prime Minister on adjusting the draft Decree in the direction of decentralizing administrative procedures for granting forest carbon credits to localities in order to implement the Prime Ministers direction on decentralization, reduction, and simplification of administrative procedures. Director of the Department of Forestry and Forest Protection said that, The promulgation of the Decree will resolve existing problems and problems and promote the potential of the forestry sector. Establish a full legal framework for localities and forest owners to deploy services. Promote the development of the forest carbon market, create new revenue sources, and increase income for forest owners and people. At the same time, contributing to the goal of reducing greenhouse gas emissions (NDC) and Vietnams international commitments. In the forestry sector, there are 5 forest environmental services (ecotourism, hydropower, clean water, aquaculture) that have clear regulations, only carbon storage service is the final piece to complete the legal framework, helping mobilize financial resources for people to participate in forest protection. The Ministry of Agriculture and Environment plans to complete the appraisal and issue forest carbon credits. for the year 2021-2022 in the second quarter of 2026 and submit a request for forest carbon credits for the period 2023-2025 in the third quarter of 2026. Download Deputy Head of the Government Office Mai Thi Thu Van spoke - Photo: VGP/Gia Huy At the meeting, Deputy Head of the Government Office Mai Thi Thu Van said that the draft Decree had been received by the Ministry of Agriculture and Environment and consulted with Government members; The Ministry also issued an explanation report, adding an important content: decentralization and decentralization of power to the Provincial Peoples Committee in granting carbon credits for forest areas under local management. Deputy Director Mai Thi Thu Van emphasized the pol
