10 January 2014
PHNOM PENH — Cambodia’s first verified carbon credit program is up and running in the remote province of Oddar Meanchey. But experts say there are limited carbon credit buyers, and illegal deforestation remains a major threat to the stability to the project.
The so-called REDD+ project, a United Nations initiative to reduce carbon emissions that contribute to global warming, began in Cambodia in 2008. Some 16 projects, officially called Reducing Emissions From Degradation and Deforestation, are now underway in Cambodia. The Oddar Meanchey project is the first to be verified and have credits ready for purchase.
The Oddary Meanchey project was the first to be implemented, and seeks to safeguard 13 different communities across 64,000 hectares of forest. It has achieved a “gold” standard across three criteria in the integration of climate, community and biodiversity benefits.
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