Blue Carbon

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.