The Tumring REDD+ Project said in a statement obtained yesterday that it had reduced net CO2e (carbon dioxide equivalent) emissions by 645,410 tonnes in Kampong Thom province between January 2015 and December 2019.
The project, in collaboration with the Cambodia Forestry Administration (CFA) and Korea Forestry Service (KFS), has been working to reduce emissions from deforestation and forest degradation across around 67,800 hectares in the province.
According to the joint statement, the CFA signed a Memorandum of Understanding with the Republic of Korea through the KFS in 2014, dubbed The Tumring REDD+ Project. It was implemented in 14 community forests in Sandan and Santuk districts.
It said that this project has achieved its successful dual verification under the Verified Carbon Standard (VCS) and Climate, Community and Biodiversity (CCB) standards. It generated a net emission reduction of 645,410 tonnes of CO2e over the monitoring period from January 2015 to December 2019. The project is being implemented by the Forestry Administration (FA) of the Cambodian government, with funding support provided by the KFS of the Republic of Korea.
Director-general of the Forestry Administration Keo Omaliss said that this project is the most successful and predominant REDD+ (countries’ efforts to reduce emissions from deforestation and forest degradation) project working with community forestry groups while improving local livelihoods of the participating community members.
“In close collaboration with the KFS and technical support from the Wildlife Works Carbon, the FA will expand the community-based REDD+ project to a larger scale, adding more activities including forest restoration, so that more forest can be protected,” he said.
It said that currently, the project is seeking carbon credit buyers through the voluntary carbon market. The Forestry Administration calls on national, international investors and private sectors to purchase carbon credits directly from the Tumring REDD+ Project so that they can offset their carbon emissions.
The statement added that a proportion of generated forest carbon credits are going to be shared between South Korea and Cambodia, while the remaining credits will be traded in the voluntary carbon markets in order to support forest-dependent communities to improve their livelihoods through incentives received from the sale.
Director-general of the KFS Kiyeon Ko said that the issuance of the carbon credits bears special meaning in this COVID 19 crisis, which is an example of zoonotic diseases aggravated by deforestation.
“We are very thankful for the inspirational work of the FA and local stakeholders on supporting the project to conserve the forest while enhancing the quality of life of community members as well as promoting biodiversity. We will continue cooperating with the FA to maximise the benefits that the forest can provide,” he said.