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NatureCo leads $1.1 million private-public-NGO partnership to lay the foundations for nature-based carbon projects in Vietnam

December 2, 2022

A unique project partnership team is bringing together expertise and funding from private and public sector to map opportunities for nature-based solutions in Vietnam, work with local organizations to build carbon skills, and develop a pilot reforestation carbon project.

A joint vision to pave the way brings together partnerships

Nature-based carbon projects such as forest ecosystem protection and sustainable management, reforestation, agroforestry or coastal blue carbon ecosystems restoration can provide substantial long-term economic, social and environmental benefits alongside greenhouse gas emission reductions and carbon credit generation.

A partnership made up of NatureCo; global NGO One Tree Planted; Vietnamese conservation organization Centre for Conservation and Development (CCD); carbon-neutral gas company Cooper Energy, and the Australian Department of Foreign Affairs and Trade (DFAT) through the Business Partnerships Platform (BPP), joined forces with a vision to pave the way for high integrity nature-based carbon projects to be implemented in Vietnam.

The Australian Embassy, Vietnam announced the project in Hanoi on 29 November. Further details of the announcement can be found here.

“We want this partnership to support a thriving nature-based carbon market in Vietnam providing significant economic, social and environmental benefits to local communities” says Todd Berkinshaw, CEO of NatureCo.

Laying foundations as a springboard for future projects in Vietnam

Funding provided by DFAT through the BPP platform, alongside Cooper Energy and One Tree Planted, will support the development of a 700-hectare reforestation project in the Dakrong Nature Reserve in Quang Tri province of Vietnam, as well as provide capacity building with local project implementation organizations across the country.

A critical part of the work will be to engage with Vietnamese government agencies.

“We feel privileged to be chosen to undertake this important work in stepping this nature-based carbon project in Vietnam through new government approval processes together with CCD and the Department of Foreign Affairs team”, says Todd.

The work is a springboard for future projects, with the Dakrong project an example for others.

The capacity building with local implementation organizations lays the foundational skills for new projects to be identified, and this together with opportunity mapping across Vietnam will be the corner piece to enable future growth and private sector investment in nature-based solutions in Vietnam.

What the partners are saying

“One Tree Planted is excited to collaborate with the BPP, NatureCo and CCD to scale nature-based carbon projects in Vietnam. Capacity building, key learnings from the Dakrong Nature Reserve pilot project and integration of government approval processes, will provide the foundation to streamline access to carbon markets and develop future carbon projects in Vietnam. The tools, resources and processes established under this grant will provide a robust framework that can be adapted to other countries across the Asia-Pacific and beyond.” Alastair Jones, Major Projects Manager, One Tree Planted. 

“The piloting of nature-based carbon solutions in the Dakrong Nature Reserve in Quang Tri province following global voluntary carbon standards will be a precedent of best practice for Vietnam to start its trial carbon trade exchange by 2025. Lessons learned from this project will help the government of Vietnam formulate national carbon market development policies and operate the carbon trade exchange from 2028.” Dr. Ha, Director of CCD.

“Cooper Energy is pleased to support this foundation capacity building project. As Australia’s first carbon neutral certified gas producer we have committed to fully offset our scope-1, scope-2 and controllable scope-3 emissions as our business grows. We strive to do this where there are tangible environmental and social benefits. Partnerships such as this highlight what can be achieved from carbon abatement. We are proud to be a part of a project providing long-term economic, social and environmental benefits to Vietnam.” David Maxwell, Managing Director, Cooper Energy.

“NatureCo is a for-purpose business specializing in nature-based project delivery, and with a mission to scale up global action on climate change and biodiversity loss while creating enduring benefits for local communities. This project supports our mission and aligns with our approach which is to tackle the biodiversity and climate crisis simultaneously, collaboratively and effectively by working in partnerships.” Melanie Kaebernick, Director of International Partnerships, NatureCo.  

Are you interested to find out more about our work in Vietnam or NatureCo’s approach to capacity building and developing nature-based carbon projects with global partners? Contact Melanie Kaebernick, Director of International Partnerships at melanie.kaebernick@natureco.earth