News » Over 700.000 Gold Standard Carbon Credits issued for Vietnam Biogas Programme
Over 700,000 Gold Standard carbon credits (GS VERs) have been issued in May 2020 for the fourth monitoring period of the Biogas Programme for the Animal Husbandry Sector in Vietnam.
The reduction of 709,192 tons of CO2 equivalent emissions was independently verified and certified by the Gold Standard Organization. Combining this number with more than 2.3 million of GS VERs credits already issued for the 3 previous monitoring periods, the project has reduced Vietnam’s GHG emissions by over 3 million tons of CO2, one of the highest volumes for voluntary carbon credits available on the market.
The achievements of the Biogas Programme makes this project an important contributor to the global carbon market, while total credits account for 2.6% of the global credits issued since it commenced in 2003. Specifically, the verified carbon credits from the Biogas Programme in 2018 and 2019 accounted for 5.5% and 3.9% of global Gold Standard credits issued in these two years respectively. In Vietnam, by the end of 2018, a total of 3.39 million GS VERs were issued with the Biogas project accounting for 70% of the total. Including the credits issued in the fourth monitoring period, this rate increases to 75%.
The Biogas Programme in Vietnam effectively addresses both climate change and energy access in communities across rural communities. The programme not only prevents over half a million tons of CO2 from entering the atmosphere each year but also creates local jobs, improves indoor air quality for thousands of people, reduces deforestation and provides organic fertilizer.
About the Programme
The Biogas Programme started in 2003 and has now installed approximately 175,000 digesters in 53 provinces. The programme is implemented by Livestock Production Department the Biogas Project Division (BPD) under the Ministry of Agriculture and Rural Development (MARD) and in partnership with SNV in Vietnam.
The Biogas Programme for Animal Husbandry Sector under the Department of Livestock Production of the MARD aims to:
For certification and management of carbon assets, the Biogas Programme is cooperating with Nexus for Development, a non-profit expert organization on carbon project development.