The proposal for the “REDD+ Results Payment for the Socialist Republic of Viet Nam 2014 Results” submitted by the Japan International Cooperation Agency (JICA) to the Green Climate Fund (GCF) (*1) in cooperation with the Government of Viet Nam was approved at the 44th GCF Executive Board Meeting held in the Republic of Korea, approved on March 26. This is the fourth project to be implemented by JICA using GCF funds, and will contribute to the mobilization of diverse funds as described in the Development Cooperation Framework of the Japanese Government.
Tree Planting in Vietnam
This project will receive REDD+ Payments for Results (REDD+ Payments for Results) (*2) from the GCF for the Socialist Republic of Vietnam’s (the country) achievement in 2014 of reducing carbon dioxide emissions by reducing deforestation and forest degradation and promoting carbon sequestration through afforestation and natural forest regeneration, and will use the funds to reinvest in the country’s The funds will be reinvested in the implementation and strengthening of policies and measures related to forest management in Vietnam. This will help address drivers of deforestation and forest degradation and promote sustainable forest management and improved livelihoods for local communities.
This project is the fruit of JICA’s long-standing cooperation in REDD+-related policy and planning, the development of forest monitoring systems, and the calculation of emission reductions and absorption, as well as the ongoing efforts of the Vietnamese government. Going forward, further progress in forest conservation and climate change action is expected to be made with funds from the GCF. In addition, this project contributes to Goal 13 “Take concrete measures against climate change” and Goal 15 “Protect the abundance of land” of the Sustainable Development Goals (SDGs), and is also an initiative that will contribute to achieving the goals set forth in the Paris Agreement of the United Nations Framework Convention on Climate Change (UNFCCC).
A summary of the project is as follows
Project Summary
Country： Socialist Republic of Viet Nam
Project Title: REDD+ Results Payment for the Socialist Republic of Vietnam 2014 Results
Amount received: US$71,955,000 (approximately 11.2 billion yen)
Planned implementation period: 6 years
Implementing agency: Vietnam Ministry of Agriculture and Environment and provincial people’s committees
Target Area: Northwest and Northeast Vietnam
Business Description:
Output 1: Strengthening of forest-related policies, laws, and regulations related to REDD+ and GHG emission reductions
Output 2: Promotion of sustainable forest management (SFM) and carbon stocks
Output 3: Non-deforested agriculture and livelihood support for forest-dependent local people
Output 4: Strengthened project management capacity
JICA will continue to promote cooperation for the conservation of forests and the natural environment, as well as climate change mitigation and adaptation through these efforts.
（The Green Climate Fund (GCF) is a fund established under the United Nations Framework Convention on Climate Change (UNFCCC) and the Paris Agreement, which supports developing countries in reducing greenhouse gas emissions (mitigation measures) and addressing the impacts of climate change (adaptation measures). JICA has been an Accredited Entity of the GCF since 2018.
(*2) REDD+ stands for Reducing emissions from deforestation and forest degradation and the role of conservation, sustainable management of forests and enhancement of forest carbon stocks. REDD+ is an international mechanism that provides funds to developing countries for reducing emissions from deforestation and forest degradation and the role of conservation, sustainable management of forests and enhancement of forest carbon stocks.
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