Vietnam to transfer additional one million carbon credits to World Bank

Vietnam to transfer additional one million carbon credits to World Bank

The credits form part of the 5.9 million tonnes of surplus CO₂ reductions remaining after Vietnam’s initial transfer under the first phase of its Emission Reductions Payment Agreement (ERPA), which generated revenues of $51.5 million. Under the agreement, about 95 per cent of these credits will be returned to Vietnam to support its Nationally Determined Contributions, the country’s greenhouse gas reduction commitments submitted biennial…