Page 62 - STRATEGY FOR SUSTAINABLE AGRICULTUR AND RURAL DEVELOPMENT IN THE PERIOD 2021-2030 AND VISION TO 2050

26. What are “Carbon Credit” and

“Ecological Footprint/Carbon Footprint”?

A carbon credit is a certificate that is for humans, surface area for infrastructure
tradable and represents the right to emit construction, carbon dioxide absorption, and
one ton of carbon dioxide (CO ) or one waste storage and assimilation capacity.
2
ton of carbon dioxide (CO ) equivalent
2
(Environmental Protection Law 2020). Carbon
credit exchange and offset mechanisms are
the ones to register and implement GHG
emission reduction programs and projects
and generate carbon credits according to
internationally accepted methods or that
recognized by Viet Nam. Carbon credits from
programs and projects are exchanged at the
carbon markets or compensated for GHG
emissions exceeding the allocated quota
(Article 3 of Decree No. 06/2022/ND-CP).
The ecological footprint is a term that
began to be used in the 1990s by scientists
from the University of British Columbia,
William E. Rees and Mathis “Wackernagel“.
Accordingly, the ecological footprint is a
measure of demand for land and water
capable of providing the biological
productivity necessary to provide food, timber

62 Guidelines for the Strategy for sustainable agriculture and rural development
in the period 2021-2030, and vision to 2050