Cambodia and Wildlife Conservation Society To Sign Follow-On Agreement to Disney Carbon Credit Sale

A project agreement that will oversee the use of the funds generated by Cambodia's carbon credit sale to the Disney Company will be signed by the Royal Government of Cambodia and the Wildlife Conservation Society on Aug. 11, in the afternoon, said a press release of the U.S. Embassy in Phnom Penh.

Minister of Environment H.E. Say Samal, and U.S. Ambassador to Cambodia H.E. William A. Heidt will preside over the signing ceremony to be held at the Ministry of Environment, it pointed out.

The Royal Government of Cambodia in partnership with WCS, has sold successfully the first carbon credits from a climate change mitigation project in Keo Seima Wildlife Sanctuary, which encompasses a total area of 292,690 hectares to Disney.

The Keo Seima Project, under the international approach called REDD+ (Reduced Emissions from avoided Deforestation and Degradation), is projected to avoid the emission of more than 14 million metric tons of CO2 equivalents over the first 10-year period between 2010-and 2019.

Source: Agence Kampuchea Press