On November 17, the Institute of Strategy and Policy on Natural Resources and Environment (ISPONRE), in collaboration with Dragon Capital Vietnam, organised a workshop to announce the research results on the valuation of the ecosystem services of Ca Mau mangroves and Pu Mat National Park in Nghe An Province, and the introduction of research into private financing for biodiversity and ecological services.
The workshop attracted nearly 100 delegates from various ministries and sectors, research institutes, non-governmental organisations, and the private sector
The results of “Valuation of Ecosystem Services in Ca Mau Province and Pu Mat National Park, Nghe An Province” have revealed the importance of ecosystems to the well-being of the community, conveying direct-use value (food supply, timber, firewood, tourism, and more), indirect-use value (regulating services, carbon storage and sequestration, and landscape beauty) and conservation value.
The total economic value of the mangroves in Ca Mau Province is estimated at $75.8 million per year and Pu Mat National Park it is estimated at $157 million per year, excluding conservation value.
“The value of ecosystem services and natural capital should be assessed and accounted for in order to provide information for socioeconomic development and land use planning”, emphasised Nguyen Dinh Tho, director general of ISPONRE.
Dominic Scriven OBE, Chairman of Dragon Capital Vietnam, said that biodiversity loss is currently one of the greatest threats that the community is facing.
“Biodiversity conservation requires the efforts of all stakeholders, including the government, businesses, researchers, and communities. Dragon Capital Vietnam always supports Vietnam in biodiversity conservation activities”, said Scriven.
At the event, experts also introduced the study themed “Private Financing for Biodiversity and Ecological Services”, conducted by Symmetry and sponsored by Dragon Capital Vietnam.
The study has examined possible financial sources for biodiversity conservation and the potential application of a biodiversity credit scheme in Vietnam
Vietnam is recognised as being among the most biodiverse countries in the world. Biodiversity plays an essential role in the national economy, serving as a constituent of natural capital for the sustainable development of the country, as well as supporting a range of economic activities including agriculture, forestry, fisheries, and tourism.
The country has diverse fauna and flora species. However, in recent years, Vietnam’s biodiversity has been on the decline due to the loss of natural habitats from the conversion of land use for agriculture, forestry, and infrastructure. At the same time, the country is facing habitat degradation due to over-exploitation, invasive alien species, fires, and environmental pollution.