Long An cooperates with Japanese company to build carbon credits on 100,000 hectares of rice

Long An Department of Agriculture and Rural Development and Faeger Company signed a memorandum of understanding to build carbon credits in rice production - Photo: TIEU LAM

On September 13, Ms. Dinh Thi Phuong Khanh - Deputy Director of the Department of Agriculture and Rural Development of Long An province - said that the department had signed a memorandum of understanding with Faeger Co., Ltd. (Japan) on piloting models of building carbon credits from rice production using the alternating flooding and drying method.

Accordingly, the two sides will cooperate to support farmers in sustainable agricultural production, reduce greenhouse gas emissions and implement green transformation in the agricultural sector.

Promote plans and projects in the agricultural sector to reduce greenhouse gas emissions in Long An province.

Specifically, this project will collect carbon credits and connect funding sources from the joint credit mechanism (JCM) or voluntary carbon credits, to support farmers in promoting green transformation, ensuring financial resources for implementing projects and measures to reduce greenhouse gas emissions.

Faeger Company Limited is responsible for implementing, providing professional and technical support, and monitoring carbon credit building models from rice production using the alternating flooding and drying method.

At the same time, it will bear the costs incurred in conducting model trials, such as payment costs for participating farmers and hiring related services, purchasing raw materials and equipment necessary for the trials, and compensation costs for farmers who lose profits when conducting the trials.

The Department of Agriculture and Rural Development will be responsible for ensuring infrastructure, sending technical staff to coordinate and connect farmers in the region to implement together.

In the first phase from October 2024 to July 2025, the project will pilot the model at Hoa Phu Agricultural Research and Service Camp, Chau Thanh district and a household in Vinh Hung district.

The area of ​​each test site is 0.5ha.

The project's goal is to support farmers in Long An to collect carbon credits on 100,000 hectares of rice using the alternate flooding and drying method by 2030.

Faeger is a Japanese company that supports agricultural projects, especially projects that promote greenhouse gas emission reduction in the agricultural sector.

Prior to signing this MoU, Faeger also signed a memorandum of understanding with the National Agricultural Extension Center, to collaborate on implementing projects and trials across the entire region in Vietnam.

Source: https://tuoitre.vn/long-an-phoi-hop-cong-ty-nhat-xay-dung-tin-chi-carbon-tren-100-000-ha-lua-20240913160400306.htm