Green Carbon Inc. (Representative Director: Jun Okita; hereinafter “Green Carbon”), which develops and sells nature-based carbon credits, hereby announces that it has entered into a Memorandum of Understanding (hereinafter, “MOU”) with the Vietnam Academy of Forest Sciences (hereinafter, “VAFS”) for the purpose of developing a forest carbon project in Tuyên Quang Province, Vietnam (hereinafter, the “Project”).
○For inquiries regarding this press release and further details, please visit here
○To download the Company Profile of Green Carbon Inc., please visit here
◆Project Overview
The Project is a forest carbon initiative that aims to generate carbon credits while enhancing forest land and timber quality and increasing farmers’ incomes. Through strengthening greenhouse gas removals and reducing emissions in the forestry and land-use sector, the Project seeks to contribute to the achievement of the Vietnamese Government’s net-zero emissions target. Under this partnership, the parties will also jointly examine the integration of project-level monitoring, reporting, and verification (MRV) systems with national systems, in alignment with government policies and international standards. A feasibility study is scheduled to commence in 2026, with large-scale deployment planned through 2034.
Through this collaboration, Green Carbon and VAFS will promote forest conservation, forest restoration, and sustainable forest management, while advancing the generation of carbon credits for both domestic and international carbon markets.
◆About Tuyên Quang Province, Vietnam
Tuyên Quang Province is one of Vietnam’s leading regions in terms of forest resources. As of December 31, 2024, the province’s forestry land area totaled 440,053 hectares, with forest coverage reaching 419,933 hectares. In 2024, the forest cover rate stood at 65.21%, ranking among the highest nationwide.
These abundant forest resources provide a highly favorable foundation for the implementation of forest carbon projects that support sustainable forest management, greenhouse gas emissions reduction, and participation in both domestic and international carbon markets.
○Tuyên Quang Province: Location
◆Roles and Responsibilities under the MOU
Under the MOU, VAFS will take the lead in the technical aspects of developing and implementing forest carbon projects in Vietnam’s forestry and land-use sector. This includes coordination with domestic partners, the provision of technical expertise in forest science, carbon accounting, and measurement, reporting, and verification (MRV), as well as the development of carbon baselines and MRV plans.
Green Carbon, in turn, will be responsible for carbon credit registration, assessment of project potential, selection of applicable methodologies, and the structuring of project finance. Green Carbon will also lead the joint development of carbon methodologies under various mechanisms, including the Joint Crediting Mechanism (JCM).
Individual projects developed under this MOU will be implemented sequentially through separate agreements to be concluded on a project-by-project basis.
◆Methodology
The Project will adopt the Improved Management of Forests / Forest Plantations (IMF-P) methodology. IMF-P is a methodology that seeks to increase carbon sequestration by improving existing forest management practices. Through measures such as extending harvesting intervals and reducing harvesting intensity, the methodology enables the alignment of sustainable forest management with enhanced carbon sequestration.
As a result, the Project can maintain sustainable timber production while increasing the amount of carbon stored within forest ecosystems.
◆Future Initiatives
Starting in 2026, the Project will commence with a one-year feasibility study covering up to 1,000 hectares in Tuyên Quang Province, followed by a phased expansion over the subsequent seven years.
During the expansion phase, the Project will support local farmers, enhance forest land and timber quality, and increase household incomes, while aiming to generate carbon credits for both domestic and international markets.
◆Green Carbon, Inc.
Representative: Jun Okita, CEO
Head Office: PREX North 9F, 2-3-2 Kojimachi, Chiyoda-ku, Tokyo, Japan
Established: December 2019
Business Activities: Development and sales of carbon credits, agriculture-related projects, environmental projects, other related businesses, and ESG consulting
Website: https://green-carbon.co.jp/en/
◆About Green Carbon
Guided by the vision of “Harnessing the power of life to save the Earth,” Green Carbon develops and supports projects that generate, register, and sell nature-based carbon credits both in Japan and abroad. The company is also engaged in agriculture-related businesses, R&D initiatives, and ESG consulting.
Its business activities span Japan, Southeast Asia, Australia, and South America, creating credits from rice paddies, biochar, forest conservation, carbon farming, mangrove planting, and cattle methane reduction. In Japan, Green Carbon obtained certification in FY2023 for the country’s first and one of the largest-scale rice paddy J-Credit projects (approx. 6,220 t). In FY2024, the company plans to expand this initiative to around 40,000 ha (approx. 80,000 t).
Green Carbon also provides “Agreen,” a one-stop platform service that streamlines the entire process of credit registration, application, and sales. By simplifying procedures and documentation, the service reduces the administrative burden on credit creators.
◆Green Carbon’s social media
Youtube ：https://www.youtube.com/channel/UCYO4WnGOHDaVB1ikxheZasA
note ：https://note.com/green_carbon/
Facebook：https://www.facebook.com/profile.php?id=61557429326458
X ：https://mobile.x.com/GreenCarbon2019
Linkedin ：https://www.linkedin.com/company/green-carbon-inc/
Wantedly：https://www.wantedly.com/companies/greencarbon2019