Climate finance - NetZero targets and opportunities for farmers

Published 2024년 11월 23일

Tridge summary

Vietnamese farmers have received financial rewards for successfully reducing emissions on their rice farms using a new alternative farming method. The method, which includes alternating flooding and drying, and the use of biological products, has been rated as healthier than traditional farming methods. This initiative, in collaboration with Net Zero Carbon Company and BSB Nanotech Company, offers a significant opportunity for farmers to earn climate finance, with the UN-backed market projected to reach a transaction value of 250 billion USD per year by 2030. Meanwhile, the Vietnamese forestry sector is expected to generate 60-70 million tons of CO2 credits annually by improving forest productivity and quality. The government is encouraging farmers to adopt emission reduction models and sustainable production solutions, underscoring the importance of agriculture in achieving Vietnam's emission reduction targets.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

At the end of the 2024 summer-autumn rice crop, what Mr. Chung Tan Em and many farmers in Kien Binh commune, Kien Luong district, Kien Giang province could not have expected was that he would be rewarded... money for applying the new model - growing rice to reduce emissions. The amount of 43 million VND, equivalent to the amount of 116 tons of CO2e emissions on a 29-hectare field growing only Japanese rice (DS1) was handed to him, an amount that could be equal to the profit that farmers earn when cultivating 1-2 hectares, depending on when the rice price is high or low. Along with Mr. Tan Em, farmer Le Huynh Huu Nghi in Kien Luong district also received more than 21 million VND from growing rice to reduce emissions, with a total area of more than 11 hectares and 6 households in Hon Dat district (Kien Giang province) also received from 2.6-7.2 million VND in bonuses. So, what did these farmers do to receive such a large sum of money for the first time in their life of growing rice, ...

Source: Danviet