Cambodia Earns Over US$11 Million from Carbon Credit Sales

Since 2016, Cambodia has yielded some US$11.6 million from the carbon credit sales, said Minister of Environment H.E. Say Samal yesterday evening.

This amount of income has been generated under the Reducing Emission from Deforestation and Forest Degradation (REDD+) project that Cambodia has worked with three companies � Disney, Shall, and Gucci, he said.

We have sold carbon credits in Keo Seima Wildlife Sanctuary, South Cardamom Wildlife Sanctuary, and Tatay Wildlife Sanctuary in the Voluntary Carbon Market framework, he pointed out, We have been studying additional carbon credit sales in Prey Lang Wildlife Sanctuary.

H.E. Minister said the budget obtained from carbon credit sales has been used to protect and preserve forests and develop community livelihoods in the three protected areas.

According to Forest Referral Level, Cambodia can produce more than 10 million tons of carbon credit annually to trade in the Result-Based Payment framework of Green Climate Fund.

Source: Agency Kampuchea Press