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VERRA Agents Offset International Carbon Loans for REDD+ South Cardamom Renewal Project

  • Posted Sep 13, 2024 10:58 by EAC News
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The Carbon Credit Agency (VERRA), an independent international agency responsible for the registry, validation, verification, and insurance of carbon credits for the international market, had decided to suspend the sale of carbon credits in early 2023.

After a hiatus of more than a year, VERRA announced on September 11, 2024, that it has completed a thorough audit of the REDD+ South Cardamom project in the Cardamom Mountains National Park. The audit concluded that the REDD+ South Cardamom project has taken the necessary steps to manage natural resources and support community livelihoods.

VERRA has now decided to lift the suspension on the sale of carbon credits for the REDD+ South Cardamom project.

His Excellency Dr. Eang Sophalleth, Minister of Environment, stated that the decision to reopen the carbon credit sales for the Cardamom Range National Park reflects the outstanding results achieved by the Ministry of Environment with full support from the Royal Government. This success is due to the implementation of effective environmental strategies, active participation from relevant ministries, institutions, sub-national administrations, and successful development partners. Key achievements include: (1) improved forest protection through strict law enforcement, (2) enhanced living standards for communities in protected areas, with new options that minimize impacts on natural resources through supportive policies, and (3) strong cooperation with stakeholders and Unity within environmental family.

Dr. Eang Sophalleth added that the success in these three areas was a significant factor in VERRA's decision to audit the project area and lift the suspension on the sale of carbon credits.


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