Kambodscha

The first political risk insurance contract for a Reduced Emissions from Deforestation and Degradation (REDD) project, provided by the Overseas Private Investment Corporation (OPIC) to Terra Global Capital

The Overseas Private Investment Corporation (OPIC) has executed the first political risk insurance contract for a Reduced Emissions from Deforestation and Degradation (REDD) project that will protect 64,318 hectares of forest in Cambodia and sequester approximately 8.7 million metric tons of CO2e

Cambodia’s woodlands are seeing continued deforestation, despite a plan by the government to curb illegal logging, environmental groups say.

CAYMAN Islands-registered Green Glory Ltd is in the process of obtaining management rights to establish a carbon credit scheme using Cambodia’s forests, according to a company statement.

The firm is seeking rights to 450,000 hectares of the Kingdom’s woodlands for supply-side carbon credits. It is also planning to list on the London Alternative Investment Market exchange via the acquisition of AIM-listed Tricor Plc.