HCMC – HSBC Vietnam is partnering with the World Wide Fund for Nature (WWF) Vietnam to execute a five-year VND10 billion mangrove forest restoration project at the Mui Ca Mau National Park in mainland Vietnam’s southernmost province of Ca Mau that will regenerate 150 hectares of mangrove forest.
This in turn will help address serious socio-environmental challenges such as climate change, water security, water pollution, food security, human health and disaster risk management.
According to HSBC’s recent report “Tackling the next crisis” for Asia, climate change is defined as the crisis of the century and Vietnam is among the countries that can be the most impacted. Deforestation has become a major contributor to climate change.
According to CEO of HSBC Vietnam Tim Evans, the mangrove forest restoration project will contribute to building Vietnam’s resilience against natural disasters and climate change so that families, communities and businesses can thrive in the future.
Within the scope of the project, HSBC Vietnam will work alongside conservationist experts from WWF-Vietnam to develop an innovative program that will nurture the vulnerable ecology of the Mui Ca Mau National Park, the Mekong Delta and beyond.
The 150-hectare mangrove forest will be regenerated by applying newly developed natural mangrove regeneration technology to ensure the highest possibility of tree growth. When it reaches maturity, the forest will be able to sequestrate at least 20,000 tons of carbon per year, reducing carbon dioxide levels.
The mangrove trees will also form a buffer between the land, sea and rivers, helping maintain this patch of the Mekong Delta and shield it from natural disasters. In addition, this new forest area will provide ecosystem services to protect more than 10,000 households from flooding.
Another component of the project will feature an education program on forest protection and biodiversity conservation for some 3,000 households in the core zone of the national park, raising their awareness over conservation issues.
By Thuan An