30 September 2013
Cambodia’s only U.N.-backed carbon trading scheme is still nowhere near making any money for communities and logging in the area continues to threaten the very forests supposed to generate tens of millions of dollars over the next 30 years, community representatives and officials in charge of the scheme say.
The NGO Pact has been working with the government to turn 68,000 hectares of forest in Oddar Meanchey province into a money-making venture since 2007 by selling the forest’s carbon credits to environmentally conscious firms in the West.
But the program has thus far been unable to secure any carbon credit buyers and Pact ceased funding for the scheme in July, leaving the communities low on funding to fight against illegal loggers. No deal has yet been made because the May 20 deadline that had been set for the government to sign off on it inexplicably came and went without a signature.
Read more from Cambodia Daily here.