Search form

Login - Register | FOLLOW US ON

Logo of Phnom Penh Post newspaper Phnom Penh Post - Carbon credit schemes, concessions slashed

Carbon credit schemes, concessions slashed

The Ministry of Environment has cancelled seven carbon credit schemes and reduced the leases of six economic land concessions (ELCs) as part of an ongoing reform effort, according to an announcement released on Friday.

Carbon credits are created when companies invest in projects, usually abroad, to offset their emissions, while Cambodia’s ELC system has come under scrutiny over its effect on the environment and forced evictions.

Srun Darith, the ministry’s chief of cabinet, said that seven unnamed companies had their carbon credit projects cancelled due to inactivity. “They were passive and did not fully conduct their studies,” he said.

As for the ELCs, the ministry announced in July that it was implementing a move to reduce their leases to 50 years across the board.

The latest six companies to have their terms reduced cover 45,468 hectares of land in Koh Kong, Kampot, and Pursat provinces.

0

Comments

Please, login or register to post a comment

Latest Video

ACLEDA President In Channy on the key to the bank’s success

Post Khmer Editor-in-Chief Kay Kimsong sat down with Dr In Channy, President and Group Managing Director of ACLEDA Bank Plc, to explore the main principle guiding Cambodia’s biggest bank.

A taste of Phnom Penh's first container night market

At the launch of Phnom Penh's newest market, The Post spoke to customers and stallholders about what the hub of bars, food stalls, shops and live music will add to the city's nightlife.

Directors discuss the 'rebirth' of Cambodian cinema

"I believe that Cambodian people have creativity in their blood ... There will come a time where a Golden Age of cinema will come back."