Decree on Carbon Credits
关于碳信用的政令
ດຳລັດວ່າດ້ວຍ ສິນເຊື່ອກາກບອນ
Summary
This decree adjusts the generation, trading, and management of carbon credits within Laos, with the core being the establishment of a centralized management principle and stipulating that the Ministry of Agriculture, Forestry, and Environment shall formulate a carbon credit strategic plan.
Articles
Article ມາດຕາ 1
Article 2 Carbon Credit
Carbon credit means a right arising from the implementation of projects or activities that reduce the emission, absorption and sequestration of greenhouse gases, each of which must be calculated as a unit equivalent to a ton of carbon dioxide (CO2), and such right can be exchanged or traded in the carbon credit market.
Article ມາດຕາ 2
Article 4 Principles on Carbon Credit Work
Carbon credit work shall comply with the following principles:
1. In accordance with laws, socio-economic development plans, carbon credit strategic plans, national contribution programs to address climate change, conventions to which the Lao PDR is a party, and relevant international treaties;
2. Centralized and unified management nationwide;
3. Protection of the interests of the State, individuals, legal entities, and organizations in carbon credit activities;
4. Participation of individuals, legal entities, and organizations;
5. Ensuring coordination with sectors, agencies, local administrative authorities, and other relevant parties.
Article ມາດຕາ 3
Article 5 Scope of Application
This Decree applies to individuals, legal entities and organizations, both domestic and foreign, that operate and are involved in carbon credit work in the Lao PDR.
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