12-16 July - A delegation of experts from the Food and Agriculture Organization (FAO) Rome was recently hosted by Prosperity Initiative to establish the feasibility of the Bamboo Carbon Trade Project in North-West Vietnam. The delegation included advisors from INBAR (The International Network for Bamboo and Rattan) to provide carbon and bamboo science expertise and Eco-Securities, a major carbon trade brokerage firm to ascertain the viability of various carbon trade options in the industry.

The project scoping visit included meetings with senior officials from MARD, Thanh Hoa province People's Committees and local bamboo businesses. The delegation explored various options for commercialized carbon credits, which could provide significant financial benefits for poor upland bamboo farmers and businesses in the future. Potential for carbon trading in the bamboo industry comes through treatment of waste materials and the development of new bamboo plantations.

FAO asked Prosperity Initiative to host this scoping mission because of Prosperity Initiative's previous feasibility work and long-standing relationship with Thanh Hoa province over the last two years. Prosperity Initiative has agreed to support FAO's work in carbon trading if it moves forward.

FAO will soon produce a report on the feasibility mission to Viet Nam. Should the industry show potential, Prosperity Initiative and FAO would seek to develop proposals with government partners for funding and implementation.

According to FAO's project outline, "Prosperity Initiative can provide the community outreach, local organization of benefit-sharing and industry networks, which all strengthen the feasibility of carbon trade in the area. A close collaboration with Prosperity Initiative is foreseen."