The MOU aims to undertake a methane gas reduction project in approximately 70,000 hectares of paddy fields.
Green Carbon, Inc. (CEO: Jun Okita, hereinafter referred to as “Green Carbon”) is pleased to announce that it has signed an MOU with the Department of Agriculture and Rural Development (hereinafter referred to as “DARD”) of Nam Dinh Province, Vietnam. This MOU aims to promote a paddy field project covering approximately 70,000 hectares in the Red River Delta region of Vietnam.
◆Background of the MOU with DARD
Green Carbon is dedicated to generating carbon credits from natural sources, focusing on Southeast Asia, including initiatives such as methane reduction in rice paddies, livestock emissions reduction, and biochar projects. In Vietnam, we are mainly focused on paddy field projects, promoting such a project in Nam Dinh Province, we have signed an MOU with the Department of Agriculture and Rural Development (DARD).
DARD’s role will mainly involve cooperating on the *¹AWD project in Nam Dinh Province, recommending and introducing the project to local farmers, providing guidance to farmers, and requesting cooperation from related organizations. Green Carbon will collaborate with local research institutions and universities in Vietnam to measure methane gas emissions from paddy fields, collect necessary data, and handle the issuance and sale of carbon credits.
Initially, we plan to expand the project to approximately 1,000 hectares in 2024 and about 5,000 hectares in 2025, to expand to around 70,000 hectares by 2030.
*¹ AWD (Alternate Wetting and Drying)
AWD is a technique that involves periodically flooding and naturally drying paddy fields based on the water level. Compared to continuous flooding, AWD can reduce water usage and contribute to the conservation of water resources.
◆Introduction to Green Carbon Business
Green Carbon operates with the vision of “Saving the Earth with the Power of Life,” providing comprehensive support from carbon credit creation, registration, to sales. Additionally, we are involved in agriculture-related businesses, research and development, ESG consulting, among others. Our main focus is on the creation of carbon credits through methane gas reduction in rice paddies, where we have obtained certification for J-Credits, the first and largest in Japan (approximately 6,220 tons), and plan to expand to around 50,000 hectares in the fiscal year 2024. We also offer a service called “Agreen” that integrates credit registration, application, and sales into one platform, simplifying procedures such as application registration and document preparation, thus reducing the workload for credit creators.