The Lao government is working on a decree on carbon credits to be generated by Lao forests for sale on the international market.
The Department of Climate Change under the Lao Ministry of Natural Resources and Environment and development partners have met in the Lao capital Vientiane discussing details of the decree, including the processes involved in the buying and selling of carbon credits.
Discussions focused on calculating and certifying greenhouse gas emission reductions including benefit sharing, income tax, and fees and service charges involved in the purchase and sale of carbon credits, according to a report from the Lao Ministry of Natural Resources and Environment on Wednesday.
The decree will help promote the investment in greenhouse gas reduction in the Southeast Asian country and enable the purchase and sale of carbon credits to be managed through a centralized system.
The decree will also ensure the Lao carbon market is clearly defined, in serving as an efficient tool for the Lao government in regulating and selling carbon credits on the Lao and international markets.
The draft decree expected to cover all aspects of the carbon trade will be available for comments by local government agencies before a final version is put forward at a government meeting to be held in June, according to the report.
Editor:Galia
