Oddar Meanchey REDD+ Project Wins American Lawyer Award
The award recognizes the Denton’s exceptional cross-border legal work to help the nation of Cambodia monetize sustainable environmental practices. The Denton’s pro bono involvement in the matter created a simplified contracting approach to help sales of Cambodia’s first Reduced Emissions for Deforestation and Degradation (REDD) project after years of development, allowing for access to private capital. With the assistance of local counsel, a pro bono Dentons team led by Chicago Climate Change partner Jeff Fort advised the Forestry Administration of the Royal Government of Cambodia on an avoided deforestation project for the northwestern province of Oddar Meanchey.
The emission reduction purchase agreement supported by Dentons allows the Forestry Adminstration to enter to sales agreements for the emission reductions in a timely and commerically professional manner. The contract has been used to facilate emission reductions sales ranging in size from retial comsumer buyers to large corporate buyers who value the highest level of social, environmental and biodiveristy value delivered by the project.