The Lao government has signed an agreement with a private company to launch a forest carbon credit initiative in an effort to reduce greenhouse gas emissions from forest destruction and degradation.
Vientiane (VNA) – The Lao government has signed an agreement with a private company to launch a forest carbon credit initiative in an effort to reduce greenhouse gas emissions from forest destruction and forest degradation.
According to the Memorandum of Understanding (MoU) for cooperation between the Lao Ministry of Agriculture and Forestry, the Lao Ministry of Natural Resources and Environment, and the company AIDC Green Forest, the project will include eight forests with a total area of approximately 1, 4 million hectares. hectares.
According to the Ministry of Agriculture and Forestry, the plan is an important national strategy and is in line with strategies adopted by other countries to reduce forest destruction, one of the causes of climate change.
The initiative will help protect and restore forests while improving the quality of life of local communities and strengthening the national economy and the overall development of society.
According to the MoU, international standards will be followed to facilitate the purchase and sale of carbon credits in the future. The project will be a major step forward in enabling Laos to buy and sell forest carbon credits in accordance with Lao and international market mechanisms.
