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

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.

MOST VIEWED

  • Twenty years after Pol Pot died a broken man, his memory looms large

    Two decades have passed, but Mea Chron still stands by Pol Pot. Most days he also stands by the mass murderer’s cremation site, keeping guard in the Khmer Rouge’s last stronghold of Anlong Veng. Pol Pot, the widely reviled despot who spearheaded the

  • Reuters: US Embassy fired 32 staff members for sharing pornography

    The United States Embassy in Phnom Penh has fired 32 non-diplomatic staff members who were allegedly caught exchanging pornographic images and video, including of minors, according to the news agency Reuters. Four sources, who spoke on condition of anonymity, told Reuters the content was shared in

  • ‘Trouble’ foreseen in Khmer New Year almanac

    At 9:12am on Saturday, Cambodia’s devout can expect the arrival of Moha Thorathevey, an angel on a peacock holding a trident in one hand and an auspicious serrated wheel in the other. The angel, who has a liking for water hyacinths, will usher in

  • Our 2018 guide to spending Khmer New Year in Phnom Penh

    Khmer New Year festivities are upon us. For the next few days, travellers will be making their way to their home provinces to eat, celebrate, play traditional games and visit a pagoda with offerings. If you will be staying put in Phnom Penh for the