Cambodia Mulls More Selling of Carbon Credits

Ministry of Environment in cooperation with the Wildlife Conservation Society (WCS) in Cambodia are studying the possibility of selling carbon credits at Preah Vihear wildlife sanctuary in the voluntary markets.

According to H.E. Neth Pheaktra, Secretary of State and Spokesperson of the Ministry of Environment, if an assessment of 43 sampled locations in the wildlife sanctuary by an expert group proves to be possible, the selling will follow.

The Royal Government of Cambodia has authorised WCS Cambodia to scale up REDD + project in four protected areas in Preah Vihear province, including Phnom Tbeng natural heritage site, and Kulen-Prum Tep, Chhep and Preah Rokar wildlife sanctuaries with a total land area of 546,129.41 hectares.

The REDD+ carried out to reduce emissions from deforestation and forest degradation is working well, so the 43 locations at the four heritage site and wildlife sanctuaries will be studied for possible selling of the carbon credits from those areas, explained the secretary of state.

Mr. Ken Sereyrotha, Country Director of WCS Cambodia, said that the assessment drew the experience from Cambodia's successful of the selling of carbon credits at Keo Seima wildlife sanctuary in Mondulkiri and Kratie provinces last year.

Thanks to the successful conservation of its forests, Cambodia has become a leading country in Southeast Asia in selling carbon credits, he added.

The Royal Government of Cambodia has so far increased the protected areas under the jurisdiction of the Ministry of Environment to about 41 percent of the country's land surface or around 7.3 million hectares.

Since 2016, Cambodia has earned US$11.6 million from the selling of carbon credits to voluntary markets such as Disney, Kering, Intuit, Shell and Gucci.

Source: Agency Kampuchea Press