Cambodia Signs Avoided Deforestation Carbon Agreements for Voluntary Carbon Standard...

Cambodia Signs Avoided Deforestation Carbon Agreements for Voluntary Carbon
Standard Project

Project moves Cambodia into international climate change arena

PHNOM PENH, Cambodia, June 24 /PRNewswire-USNewswire/ -- Cambodia's Forestry
Administration, in partnership with Community Forestry International, Pact and
Terra Global Capital, signed agreements with nine community forestry groups to
develop and market carbon credits for an avoided deforestation project in the
Oddar Meanchey province. The carbon agreement was also finalized with the
government, marking a critical step in the development of Cambodia'sfirst REDD
project for registration under the Voluntary Carbon Standard (VCS). These
agreements mark the culmination of years of effort to secure legal forest
tenure for communities while at the same time cementing an agreement between
Government and communities to collaborate in conserving forest carbon over the
next several decades.

The avoided deforestation methodology, developed by Terra Global Capital, is
nearing the end of the first of two 3rd party validations that are required by
the VCS. The project is estimated to generate 8.5 million tons of CO2 over 30
years. The new methodology, which was submitted under the Reduced Emissions
from Deforestation (REDD) category of the VCS, integrates participatory field
measurements with sophisticated remote sensing image processing to increase
accuracy and minimize the costs of the on-going measurement of the carbon
credits.

This project is being brought to market with the collaboration work and
support of all project participants. The Royal Government of Cambodia has
created an enabling legal and political environment for the expansion of
community forestry systems. Under the enabling leadership of the Forestry
Administration and variety of partners including: participating communities,
NGOs, and Buddhist monks the project design and technical carbon measurement
team are working to ensure this project will provide better livelihoods for
local communities and deliver climate change benefits through reduced CO2
emissions.

Link to the full press release: http://www.terraglobalcapital.com/News.htm

Find out more about:
Pact: www.pactworld.org
Terra Global Capital: www.terraglobalcapital.com

For more information, contact:
Ms. Leslie Durschinger
Terra Global Capital
leslie.durschinger@terraglobalcapital.com
Tel: (1) 415 215 5941

SOURCE Pact

Ms. Leslie Durschinger of Terra Global Capital, +1-415-215-5941,
leslie.durschinger@terraglobalcapital.com