Carbon Credit Zone in Cambodia Rises to 3 million Hectares in 2022

• 2 November 2022
• Local News
• 1549 Views

The natural protected zone that is eligible to convert to carbon credits in 2022 has increased to 3 million hectares from 1 million hectares, according to HE Net Pheaktra, Secretary of State and Spokesperson of the Ministry of Environment recently.

“2022 is a turning point in which our country has received revenue from the protected zone through the sale of carbon credits. The sale of this carbon loan will increase from 1 million hectares to nearly 3 million hectares, which is equivalent to more than 30% of our protected area of Cambodia,” said HE Net Pheaktra.

The proceeds from the sale of the carbon credit were used to conserve natural resources and contribute to the development of local communities, including the provision of better livelihoods, community training, and services to tourists.

Cambodia sold carbon loans to major international companies from 2016 to 2020 for US$11.6 million. (Read more)

Currently, Cambodia has a protected area of 7.3 million hectares, or about 41% of the country, which is a source of carbon credit. (Read more)

 

• Energy and Environment