DETERMINANTS OF ENTERPRISES’ PARTICIPATION IN THE CARBON MARKET IN THE FORESTRY SECTOR: A CASE STUDY OF QUANG NAM PROVINCE

Abstract

Abstract: In the context of increasingly complex climate change, the carbon market is considered an effective tool for greenhouse gas emission reduction, bringing economic benefits to stakeholders, especially businesses in the forestry sector. In Vietnam, the carbon market in forestry is relatively new, but it presents a potential business opportunity for enterprises to generate economic value alongside traditional revenue sources while demonstrating environmental responsibility and contributing to social welfare. The paper analyzes the factors influencing the participation of enterprises in the carbon market in Quang Nam province, the first province in Vietnam to be approved by the government for the "Pilot project on forest carbon trading." It provides policy recommendations to promote enterprise participation in the market.

Keywords: Forestry enterprises; Sustainable development; Quang Nam province; Carbon market.