Ministry of Environment, Mitsui, and CI Reach a Deal on Joint Crediting Mechanism

Cambodia's Under Secretary of State for Environment H.E. Eang Sophalleth signed here yesterday with representatives of Mitsui, a Japanese company and Conservation International (CI) on Joint Crediting Mechanism in the REDD+ (Reducing emissions from deforestation and forest degradation) initiative in Prey Lang area.

The signing ceremony was held under the presidency of H.E. Say Samal, Minister of Environment, according to the ministry's news release.

Under this deal, the three partners will cooperate in preparing a REDD+ project in Prey Lang for the next three years in order to preserve and improve the livelihoods of the communities in Stung Treng, one of the four provinces covered by Prey Lang.

In August last year, the Royal Government of Cambodia and the Wildlife Conservation Society reached a deal with Disney Company on carbon credit. It was the successful and first carbon credits project in Cambodia. This project was conducted in Keo Seima Wildlife Sanctuary, which encompasses a total area of 292,690 hectares.

The Keo Seima Project, under the international approach called REDD+, was 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: Agency Kampuchea Press