Cambodia expects to generate around $10 million from the sale of carbon credits from forested areas, with the funds allocated to natural resource management and improving the livelihoods of local communities.
Minister of Environment Eang Sophalleth made the announcement during a regional conference last weekend, following the recent lifting of a suspension on the Southern Cardamom REDD+ Project (SCRP) operated by Wildlife Alliance (WA) on September 10.
"This funding must be used for the management of our natural resources and supporting our local communities," Sophalleth said.
The project covers an area of 465,839 hectares and, according to annual estimates, could reduce carbon emissions by 3,867,568 tonnes of carbon dioxide equivalent (tCO2e).
The minister noted that carbon credit sales serve as an incentive to promote the country’s conservation efforts and ensure the sustainability and growth of its natural resources.
"It's not just about selling 100 tonnes of carbon for $100, and that's the end of it. We use the money to protect the forest, ensure its sustainability and growth and improve the living standards of our communities. That's the true meaning of selling carbon," he explained.
He emphasised that in order to sell these credits, the process involves independent audits and assessments to evaluate not only what resources are available, but also the capability to manage them.
"This reflects the government's good management of natural resources,” he added.
Apart from the Southern Cardamom region, the country has several other REDD+ projects, including the Keo Seima REDD+ project in Mondulkiri province, he added.
International agency Verra had suspended the SCRP for over a year, following allegations of human rights violations raised by Human Rights Watch.
Verra reviewed all project audits and concluded that the project’s authorised representative, WA, has demonstrated that it is taking the necessary steps to address the alleged harm, mitigate the risk of future harm and continuously improve the project.
It stated that the project is now active in all three programmes in which it is registered: the Verified Carbon Standard (VCS), the Climate, Community & Biodiversity Standards (CCB Standards) and the Sustainable Development Verified Impact Standard (SD VISta) initiatives.
WA welcomed the decision to lift the suspension following a thorough year-long review, which confirmed the strength and quality of the project.
The organisation highlighted that the SCRP is overwhelmingly supported by the 29 indigenous and local communities it serves. On average, 93 per cent of community members voted in favour of the project, with support ranging from 81 to 98 per cent in locations home to many indigenous Chorng, such as the O’som and Areng areas.
Local communities back the project because it has significantly improved their quality of life. The project has built 43 wells, providing clean drinking water to over 27,000 people. More than 2,000 individuals now have access to improved healthcare, and over 10,000 have benefited from the project’s education initiatives, with $360,000 distributed through the SCRP Scholarship Award Programme, according to WA.
In 2023 alone, the SCRP invested over $2 million in community development and alternative livelihood programmes, made possible by the sale of Verified Emissions Reductions (VERs) generated by the initiative’s conservation impacts in recent years.
“The project protects over 450,000 hectares of at-risk dense evergreen forest, reducing global carbon emissions by more than 27 million tonnes to date and helping conserve 62 globally threatened species,” WA stated.
Hun Marady, director of the Koh Kong provincial environment department, could not be reached for comment on September 16.
Other REDD+ initiatives in Cambodia include the Keo Seima project, covering 166,983 hectares of forest within the larger 300,000-hectare Keo Seima Wildlife Sanctuary, which is estimated to reduce annual carbon emissions by 1,426,648 tonnes of carbon dioxide equivalent (tCO2e).
The Tumring REDD+ Project in Kampong Thom province, covering 67,791 hectares, is estimated to reduce annual emissions by 378,434 tCO2e.
Several other REDD+ projects are still under study, including those in the Lomphat Wildlife Sanctuary, the Central Cardamom Mountains, Phnom Tnout, the Northern Plains, Siem Pang, Prey Lang and the Samkos Mountains.
Since 2016, three REDD+ projects – Keo Seima, Southern Cardamom, and Prey Lang – have generated around $11.6 million from carbon credit sales. These funds have been allocated to environmental conservation activities.
The three initiatives collectively cover approximately 1.27 million hectares, representing 17.6 per cent of the Kingdom’s total protected areas.