Chicago partner Jeffrey Fort presented the luncheon remarks focusing on the Cambodia Carbon Credit project involving a landmark avoided deforestation project in Oddar Meanchy province. His remarks were entitled "Carbon Neutral Fossil and Development Projects”. The innovative structure for sales of the earned carbon credits in the Cambodia project was recognized by the American Lawyer for its "Pro Bono Global Deal of the Year" and the" Citizen of the Year" awards. Jeff discussed how the project agreement structure is an example of a replicable tool to move government owned and controlled carbon credits into the private markets. Degradation and deforestation of forests emits more CO2e than the entire transportation sector, and REDD+ projects provide a necessary technique to not only reduce those emissions but also provide community development and bio-diversity enhancement. Carbon credits earned by these projects are a necessary tool to continually support the ongoing work yet the pricing is less than the internalized carbon costs for most entities.
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