Hanoi: Vietnam is capable of selling some 40 million carbon credits for a revenue of 200 million USD annually, the Department of Forestry has calculated. It said the country has freshly signed an emissions reduction purchase agreement with Emergent, a non-profit intermediary engaging between tropical forest countries and the private sector to mobilise finance to support emissions reductions in deforestation. Accordingly, Vietnam is set to transfer to the forest financing organisation 5.15 million tonnes of carbon dioxide that cost at least 10 USD per tonne in the 2022-2026 period. The Ministry of Agriculture and Rural Development has already put forth seven targets and 11 solutions for forestry work this year, with a focus on completing the national forestry planning and supporting firms involved in transition from forestry production to forestry business. Vietnam currently houses 14.79 million ha of forest, a coverage rate of 42%. The forestry production value grows stably at a rate of 4.6% and revenue fr om environmental protection services nears 11 trillion VND (445.56 million USD). Last year, the nation, for the first time, sold more than 10 million carbon credits for over 50 million USD, ranking among the 60 countries worldwide with the highest capacity for the carbon trade./. Source: Vietnam News Agency The CEO of bakery and beverage giant SPC Group was arrested Monday on charges of forcing bakers at an affiliated firm to quit their labor union and bribing a prosecution investigator. The Seoul Central District Court issued an arrest warrant for Hwang Jae-bok, citing concerns he could destroy evidence. Hwang is suspected of forcing employees of the group's bakery chain Paris Baguette to quit their labor union and giving them disadvantages in personnel matters from 2019 to 2022. He is also accused of colluding with a senior company official to offer goods and services worth 6.2 million won (US$4,650) to a prosecution investigator in exchange for information on an investigation into SPC Chairman Hur Young-in from 2020 to 2023. Hur was under investigation on charges of violating fair trade laws and breach of duty. Source: Yonhap News Agency