Decree on carbon credit.

This Lao Decree is enacted to ensure efficiency and effectiveness across carbon markets, mobilize funding from the international community, and generate benefits for the state, individuals, legal entities, and organizations. The Decree establishes the legal framework for regulating carbon credit activities within the country. It outlines the procedures for project registration, validation, and verification, creating a structured system for generating and managing carbon credits from activities that reduce or remove GHG emissions. The system requires project developers to get approval from government ministries before the Ministry of Agriculture and Environment gives final registration.
The Decree designates administrative responsibilities for oversight and details the rights and obligations of all involved entities. It covers the issuance, trading, and retirement of carbon credits, aiming to promote environmental protection, contribute to global climate goals, and foster sustainable development.