Eni to implement natural climate solutions in a Vietnam province

Eni Vietnam has signed a Memorandum of Understanding (MoU) with Vietnam’s Quang Tri provincial government to evaluate potential Reducing Emissions from Deforestation and forest Degradation (REDD+) initiatives and Natural Climate Solutions (NCS) opportunities for carbon credit generation in the area, the company said.

“The MoU is in line with Eni’s strategy to reach net zero emissions by 2050, which adopts Natural Climate Solutions, such as REDD+ projects, to reduce hard-to-abate emissions, and with Quang Tri action plans to support forest management and sustainable development, in line with United Nations’ 2030 Agenda,” the company, a fully paid subsidiary of Eni, said in a statement.

The company said it will work with the province to identify opportunities to avoid deforestation and forest degradation, promote the sustainable use of forests and the enhancement of forest carbon stock, and support both wetlands and coastal ecosystem conservation.

Eni, which has been present in Vietnam since 2013, will also encourage carbon sequestration through climate-smart agriculture solutions, the enhancement of soil carbon stocks, and agroforestry initiatives, bringing economic and social development to the local communities.

Eni operates five blocks all located in Song Hong and Phu Khanh basins, offshore central Vietnam.