Mobilizing Investment in Methane-Reducing Rice Cultivation Project in Vietnam
The Rice Cultivation Project in Nghe An Province, Vietnam, is a large-scale methane reduction initiative led by Green Carbon Inc., aiming to implement the Alternate Wetting and Drying (AWD) rice farming method across 62,000 hectares. The project has already begun with 5,000 hectares under cultivation and is registered under the Gold Standard (GS12625). By switching from continuous flooding to AWD, the project reduces methane emissions by approximately 68%, generating an estimated 3.77 million tonnes of CO₂e reductions over a 10-year period. The initiative is fully accessible, with land secured through agreements with local cooperatives and government bodies, and seeks a capital infusion to scale operations, expand farmer training, and maximize carbon credit generation.
Green Carbon Inc., a Japan-based project developer, brings a strong track record in carbon market implementation under the Joint Crediting Mechanism (JCM), backed by equity investor Sumitomo Mitsui Banking Corporation (SMBC). With over a decade of experience in designing and executing high-quality carbon projects, Green Carbon’s strength lies in its scientific rigor, operational discipline, and collaborative stakeholder model. The company leads all project design and MRV (Monitoring, Reporting, and Verification) activities while partnering with the Vietnam National University of Agriculture (VNUA) for technical training and validation. Local government agencies and farmer cooperatives facilitate land access and community mobilization, ensuring alignment with regional development goals. Green Carbon has already completed key preparatory steps including baseline assessments, Gold Standard registration, pilot implementation, and climate impact review by SustainCERT. The company’s layered governance model and demonstrated ability to secure offtake agreements in prior JCM projects further reinforce its credibility and readiness to deliver scalable, high-impact carbon outcomes in Vietnam and beyond.
Calculus Carbon is serving as the strategic advisor to Green Carbon Inc. for the structuring and capital raise of the Rice Cultivation Project, leveraging its deep expertise in carbon finance, nature-based solutions, and investor engagement. The firm’s role encompasses designing flexible investment instruments both in-kind pre-finance repayable through carbon credits and debt financing repaid in cash tailored to the needs of institutional climate investors. In parallel, Calculus Carbon is refining the investment narrative by integrating ESG performance metrics, smallholder benefit-sharing mechanisms, and biodiversity co-benefits into the pitch, thereby enhancing the project's alignment with SDG-linked investment mandates. The firm also ensures investor confidence by embedding risk mitigation tools such as GIS-based site screening, QA/QC protocols, and digital monitoring infrastructure into the project structure. Through this engagement, Calculus Carbon aims to catalyze capital into a high-quality, scalable methane reduction solution, supporting climate resilience, rural livelihoods, and sustainable agricultural transformation in Southeast Asia.
