A study for the implementation of a REDD+ project in Siem Pang Wildlife Sanctuary is currently underway, following the Ministry of Environment's approval for its development by Rising Phoenix Co Ltd in February 2023.

Ministry spokesman Khvay Atitya stated that the ministry and Rising Phoenix are collaborating on phased studies and evaluations for the carbon credit initiative, covering approximately 100,000 hectares of the 130,000 within the sanctuary in Stung Treng province.

"The verification of carbon volume to reduce greenhouse gases [GHGs] in the atmosphere is currently underway with the company. The study requires additional reports and verification before we can proceed with carbon trading," he said.

He explained that the REDD+ project aims to achieve two main objectives: preserving forests for national benefit and contributing to global climate change mitigation under the UN Framework Convention on Climate Change.

Besides their ecological role, forests also absorb carbon dioxide, a GHG, helping to reduce global emissions, he said.

"This REDD+ project is important for two reasons: firstly, it aids in conserving natural resources through patrolling and protection by rangers and local communities; secondly, it involves local communities in conservation efforts, such as tree planting and expanding green cover, while also allowing them to benefit from eco-tourism and natural resources," he added.

Currently, at least two REDD+ projects are operational in Cambodia: the Keo Seima REDD+ project in Mondulkiri province and the Southern Cardamom REDD+ project.

Other REDD+ projects under study include those in the Central Cardamom Mountains, the Northern Plains and the Lomphat, Phnom Tnout, Prey Lang and Phnom Samkos wildlife sanctuaries.

USAID Morodok Baitang is supporting Rising Phoenix in conducting an impact analysis for the Siem Pang REDD+ project.

The team has begun training staff and stakeholders, focusing on social and biodiversity impact assessments (SBIA), which are crucial for ensuring the project’s social equity, environmental sustainability and alignment with international standards.

According to USAID Morodok Baitang, the training, led by consultants from EarthShot, was conducted in two phases. The first focused on understanding the “theory of change” for situational analysis, especially in gathering information and community involvement. This included identifying problems, creating situation models, developing results chains and analysing risks and potential negative impacts of the project.

Following the theoretical training, participants conducted practical sessions with 30 community members in Khes Svay village of Prek Meas commune in Stung Treng’s Siem Pang district. The village is one of the 16 target communities for the project, which will require social and biodiversity impact assessments.

The Siem Pang REDD+ project aligns with Rising Phoenix's vision of "Transforming Siem Pang Wildlife Sanctuary into a Productive and Flourishing Haven for Wildlife”, generating revenue and benefits for the local community and national development. The team is now prepared to continue conducting the SBIA in the remaining 15 villages, according to USAID Morodok Baitang.

Atitya also mentioned that the company has until 2025 to complete its study and submit a report to the ministry for review, in order to calculate the potential reduction in GHG emissions.

“We are awaiting the evaluation report, which is still underway. This report must undergo procedures, including further assessments by independent evaluators, and will be verified by the international agency VERRA before we can engage in carbon trading with partners,” he said.

On November 6, 2019, the government issued a sub-decree at the request of the ministry, merging the Siem Pang West Wildlife Sanctuary and Siem Pang Wildlife Sanctuary into a single protected area called "Siem Pang Wildlife Sanctuary".

The conservation area now spans a total area of 133,707.73 hectares, covering the communes of Santepheap, Thma Keo and Prek Meas in Siem Pang district.

The creation of the unified reserve aims to ensure the conservation of wildlife habitats and ecosystems, while meeting essential conditions for preserving species, flora and biodiversity. It also seeks to provide sustainable natural resources and services, encouraging community and public participation in the management, protection and conservation of ecological diversity and natural resources in the region.