GSF based Blue Carbon
1. Project Location
· Location: Mekong Delta region in southern Vietnam.
· Zone A: Coastal area – Mangrove forest and salt marsh.
· Zone B: Marine area.
2. Project Scale
· Total Area: 2,000 hectares.
o Zone A: 380 hectares of land.
o Zone B: 1,620 hectares of sea.
3. Key Objectives
· Carbon Capture and Storage:
o Effectively capture and store blue carbon through the restoration of salt marshes, mangrove forests, and the cultivation of microalgae and seaweed.
o Set and monitor annual carbon capture targets.
· Ecosystem Restoration and Protection:
o Enhance biodiversity in coastal areas through the restoration and expansion of mangrove forests.
o Improve and protect the health of salt marshes and marine ecosystems.
· Promotion of Sustainable Economic Activities:
o Promote sustainable economic activities through the cultivation of microalgae and seaweed.
o Stimulate the local economy through eco-tourism development and the sale of blue carbon credits.
· Climate Change Mitigation and Adaptation:
o Implement nature-based solutions to prevent coastal erosion and reduce flood risks.
o Strengthen the capacity of local communities to adapt to climate change and conduct educational programs.
4. Key Components
· Salt Marsh and Mangrove Forest Restoration:
o Salt marsh restoration: 10 hectares.
o Mangrove forest restoration and expansion: 200 hectares.
· Microalgae and Seaweed Cultivation:
o Microalgae cultivation: 1 hectare.
o Seaweed cultivation: 10 hectares.
5. Financial Overview
· Initial Installation Costs (Year 0):
o Costs for the restoration of salt marshes and mangrove forests, and the establishment of microalgae and seaweed cultivation areas: approximately $200,000.
o Observation system installation costs: $100,000.
o Total initial installation costs: $300,000.
· Annual Operating Costs (From Year 1 onwards):
o Annual operating and maintenance costs for salt marsh and mangrove forest restoration, and microalgae and seaweed cultivation: $100,000.
o Annual operating costs for the observation system: $50,000.
o Total annual operating costs: $150,000.
· Annual Revenue (From Year 1 onwards):
o Carbon credit sales revenue: $21,550 ~ $101,400.
o Microalgae and seaweed cultivation revenue: $220,000 ~ $660,000.
o Total annual revenue: $241,550 ~ $761,400.
6. Project Partners and Stakeholders
· GSF (G-Smart Future) Platform Technology and Strategic Support:
o The GSF platform will provide technical feasibility analysis, data management, and monitoring system construction for the project.
· Phu Thanh Co., Ltd.:
o Provides site survey, regional coordination, project approval, and implementation support.
· JBC Group:
o Conducts economic feasibility analysis and coordinates with the Korean consortium.
· Korea Environmental Health and Welfare Association (KEHWA):
o Supports climate change-related funding applications and environmental impact assessments.
· Korean Wetland Conservation Association (CWCA):
o Provides technical advice on microalgae, seaweed cultivation, and wetland environment restoration.
· Ton Duc Thang University:
o Supports carbon credit assessment and environmental monitoring using big data and AI.
· Can Tho University:
o Supports aquaculture, particularly microalgae and seaweed cultivation, and conducts local ecosystem research and education.
· Local Governments and Collaborative Agencies:
o Responsible for project approvals, collaboration, and communication with local residents.
o Coordinates environmental impact assessments and alignment with regional development plans.