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Forested hills in the Phong Nha Ke Bang National Park in Vietnam. (Photo: iStock)
Afforestation is one of the most direct ways to increase carbon sink. Vietnam planted nearly 770 million trees in 2021-2023, achieving 77% of its goal to plant one billion trees in the 2021-2025 period.
Nearly VND 9.5 trillion was raised for forest planting in Vietnam, including about 24% from the state budget and the rest from official development assistance (ODA), money raised from the public, and other channels.
Due to this investment, Vietnam’s forest coverage rate exceeds 42%, with certified forested areas totaling 465,000 hectares.
Last year, Vietnam traded 10.3 million tons of carbon emissions reductions through the World Bank at a rate of USD 5 per ton of CO2 equivalent (CO2e), totaling USD 51.5 million (VND1.27 trillion).
In the 2024-2025 phase, the country’s forestry sector and local authorities intend to plant an additional 492 million trees in various locations. However, challenges are emerging as some regions have difficulties in implementing it due to diminishing land reserves for afforestation.
This scarcity arises from the conversion of a significant amount of land for non-forestry purposes, along with some localities seeking to repurpose forest land for economic development.
Despite the remarkable progress in the afforestation drive, challenges remain. Annual budget allocations for forest development are lower than actual needs.
In April 2021, Vietnamese prime minister approved the plan for planting one billion trees in 2021-2025. The plan outlines the planting of 690 million trees in urban and rural areas, with an additional 310 million trees in natural and protective forests.
