Environment

Forest environmental services to bring about 2.8 trillion VND in 2021

The Vietnam Administration of Forestry (VNFOREST) aims to collect 2.8 trillion VND (121.7 million USD) from forest environmental services this year.
Forest environmental services to bring about 2.8 trillion VND in 2021 ảnh 1Illustrative photo (Source: VNA)

Hanoi (VNA) – The Vietnam Administration of Forestry (VNFOREST) aimsto collect 2.8 trillion VND (121.7 million USD) from forest environmentalservices this year.

According to VNFOREST Deputy Director Pham VanDien, forest carbon sequestration and emission reduction services, a newfeature of 2021, will add between 300 to 500 billion VND to the sector’s annualincome from environmental services.

Last year, the revenue from those services stoodat 2.56 trillion VND, meeting 91 percent of the yearly target

The number fell short of expectation due largelyto severe water shortage taking place at large hydropower reservoirs betweenthe fourth quarter of 2019 and the second quarter of 2020, said the VietnamForest Protection and Development Fund (VNFF). The shortage affected businessperformance of hydro power companies.
Inaddition, complicated developments of the COVID-19 pandemic locally andglobally last year directly impacted businesses employing these services.

The fund added revenues from forest environmentservices supported 226 forest management boards and 138,000 forest owners,while creating incomes for 81 forestry companies and livelihoods for more than172,000 families in mountainous areas.

According to Dien, forest environmental servicesincome are now mainly sourced from hydropower plants and firms producing cleanwater.

Experts recommended collecting environmentservice fees from other sources like ecotourism businesses, industrialproduction establishments, and aquaculture facilities./.
VNA
#VNFOREST#Vietnam Administration of Forestry#Pham Van Dien#forest environmental services#Vietnam Forest Protection and Development Fund#forest environmental services income#Vietnam News Agency#vietnamplus
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