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Dong Ha (Vietnam), 21 April 2022 – Eni, through its subsidiary Eni Vietnam, signed a Memorandum of Understanding (MoU) with Vietnam’s Quang Tri provincial government to evaluate potential REDD+ (Reducing Emissions from Deforestation and forest Degradation) initiatives and Natural Climate Solutions (NCS) opportunities for carbon credit generation in the area.
The parties will work jointly 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 (e.g. mangroves). They 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. Finally, within an agroforestry integrated approach, the parties will identify opportunities for the valorisation of agricultural residues and practices of sustainable land management in agriculture.
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.
Eni has been present in Vietnam since 2013, and currently operates five blocks all located in the underexplored Song Hong and Phu Khanh basins, offshore central Vietnam.
Background notes
As part of its long-term carbon neutrality strategy, Eni has planned the possibility of using carbon credits generated by forestry projects that guarantee environmental, social and economic benefits. Natural Climate Solutions are essential to contribute immediately to the reduction of CO2 emissions and, over time, to offset the residual emissions that available technologies do not allow to abate, supporting the energy transition.
The REDD+ scheme - Reducing Emissions from Deforestation and forest Degradation - has been defined under the United Nations Framework Convention on Climate Change (UNFCC). The REDD + projects are developed together with the local communities and in agreement with central and local governments. They are verified and certified by an independent third party for their contribution to fight climate change and the positive impact on ecosystems, biodiversity and local community development.
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EnergIA (ener'dʒia) is a system based on Generative Artificial Intelligence.
Thanks to this technology, we can respond to your requests by querying the most relevant content and documents available on eni.com. (Note: financial documents from the last 12 months and press releases from the last 2 years are considered.)
Through EnergIA, you can delve into topics of interest and have a real-time window into the world of Eni.
If you wish to search for a specific document, press release or news, use the traditional search engine via the magnifying glass icon.
Like all systems that leverage Generative Artificial Intelligence, EnergIA may generate inaccurate or outdated responses. Always consult the sources that EnergIA proposes as the origin of the generated information.
If the system fails to find an exact match for the requested content, it still tends to provide a response.
If you find any inaccuracies in the provided response, please send us your feedback at the bottom of the page: it will be very helpful for us to improve.
Remember that the content generated by the system does not represent Eni’s official position. We therefore invite stakeholders to refer to their designated contacts for official statements: Press Office for journalists, Investor Relations for analysts and investors, Company Secretariat for shareholders etc..
EnergIA can understand questions posed in almost all languages, but we prefer to provide you with a response in English or Italian, the two languages available on eni.com. If you ask a question in Italian, the content on the site in Italian will be consulted. If you ask it in English or any other language, the content in English will be consulted. (Note: the language Eni uses for financial documents/content is predominantly English.)
If questions are formulated that violate the set security criteria, the system will not proceed with processing the response. Please remember not to send personal data.
By using this service, the users acknowledge that they have read and accepted the terms and conditions of use.
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