Overseas Forest Carbon Sequestration Promotion Act (Act No. 19636).

The purpose of this Act is to support and promote activities related to reducing greenhouse gas emissions through preventing deforestation and forest degradation in developing countries as encouraged in Article 5 of the Paris Agreement, as well as forest conservation, sustainable forest management, and carbon accumulation promotion activities, thereby contributing to achieving the national greenhouse gas reduction target and contributing to responding to climate change.
The Act sets up a legal framework aimed at enhancing carbon sequestration through forest management in developing countries. It emphasizes the responsibilities of the state and local governments to encourage public institutions, private organizations, and citizens to voluntarily and actively engage in overseas forest carbon sequestration promotion activities and support necessary policies (art.3). Efforts shall be made by overseas forest carbon sequestration promotion business operators to reduce greenhouse gases and increase carbon sequestration in forests in developing countries. Key provisions include the establishment of support mechanisms for projects that reduce greenhouse gas emissions and enhance carbon storage in forests. The Forest Service is tasked with promoting international cooperation and support for these initiatives, which involves conducting surveys and gathering necessary data from relevant authorities to assess the current status and effectiveness of carbon sequestration efforts. The Act also mandates the development of detailed action plans for each country involved, addressing legal and institutional improvements necessary for effective implementation. The Forest Service must report to the National Assembly on the progress of comprehensive plans and annual action plans, ensuring transparency and accountability. Additionally, the Act outlines the support that may be provided to project operators, including financial assistance for developing and disseminating relevant technologies and other foundational activities. Project operators are required to adhere to internationally agreed methodologies and norms, minimizing deforestation and degradation.