Hanoi (VNS/VNA) – A new initiative aimed at turning coastal ecosystems into climate finance assets has been launched in Vietnam, marking a push to place blue carbon at the centre of sustainable growth and climate resilience efforts.

The National Blue Carbon Action Partnership (NBCAP) was officially launched on May 28 at a ceremony in Hanoi, alongside the inaugural meeting of a national working group tasked with guiding its implementation.

Co-hosted by the Ministry of Agriculture and Environment, the United Nations Development Programme (UNDP), the British Embassy and the World Economic Forum (WEF), the initiative is being presented by officials as a coordinated step forward in linking policy, science and finance for ocean-based climate solutions.

Blue carbon refers to carbon captured and stored by coastal ecosystems such as mangrove forests, seagrass beds and tidal marshes. Scientists say these ecosystems can absorb on average two to four times more carbon than terrestrial forests and store up to 10 times as much overall, while also protecting shorelines, supporting biodiversity and sustaining coastal livelihoods.

Deputy Minister of Agriculture and Environment Le Cong Thanh said effective conservation and restoration depend on cross-sector coordination, science-based decision-making and long-term planning.

“For Vietnam, protecting and developing blue carbon ecosystems is not only an environmental imperative, but also a strategic direction to advance a sustainable blue economy, strengthen climate resilience, and deliver on international commitments,” he said.

He described NBCAP as a multi-stakeholder platform designed to align policy, share knowledge, mobilise resources and drive practical action.

The programme follows a letter of intent signed with the WEF in October 2025 and a decision issued on May 12, 2026 establishing the NBCAP Vietnam working group. It is funded by the UK Government through the WEF, with UNDP serving as secretariat.

Since a kick-off meeting in January 2026, NBCAP has held a series of technical workshops and consultations on blue carbon science, policy and finance, bringing together more than 350 participants from state agencies, research institutes, businesses, development organisations and local communities.

UNDP Resident Representative Ramla Khalidi said blue carbon carries tremendous potential but many countries are still working to translate that promise into effective governance, investable pipelines and delivery on the ground.

“UNDP is proud to host the NBCAP Secretariat and remains fully committed to supporting the country in developing solutions grounded in national priorities and practical realities,” she said.

UK Ambassador Iain Frew described the platform as a bridge between government, development partners and the private sector to strengthen coordination on blue carbon and coastal resilience.

"This is an important step towards mobilising investment and translating ambition into practical action that delivers lasting impact for both communities and ecosystems,” he said.

WEF Ocean Programme Head Alfredo Giron said the launch underscored Vietnam’s leadership in climate action and its recognition of coastal ecosystems as essential natural infrastructure for adaptation, livelihoods and sustainable growth.

The WEF said it would continue to support Vietnam through knowledge sharing, public–private cooperation and international partnerships.

Authorities highlighted recent policies on coastal forests, biodiversity and marine protected areas while acknowledging that blue carbon initiatives remain fragmented and that financing and technical capacity are still limited.

Chaired by Deputy Minister Thanh, the 25-member working group brings together representatives from seven ministries and sectors, three commercial banks and international partners including UNDP, the WEF and the British Embassy, alongside research institutions and environmental non-governmental organisations.

Officials said the partnership aims to strengthen cross-government coordination, scale nature-based solutions and open new channels of green capital for the conservation of coastal ecosystems and the development of a sustainable ocean economy./.