This Decree is enacted in accordance with the the Act on Support for Reducing Greenhouse Gas Emissions and Enhancing Carbon Sequestration through Forests in Developing Countries.
The Decree details the procedures for reporting and supporting projects aimed at carbon sequestration in foreign forests in developing countries. Key provisions include the requirement for project operators to submit a business plan and various supporting documents, such as contracts, organizational regulations, and proof of financial capability. It specifies the types of documents needed for both initial project applications and any subsequent changes to project plans. Additionally, the Forest Service is tasked with establishing a support center for these initiatives, which must submit an annual operational plan detailing personnel, financial status, and specific project goals. The Decree emphasizes the importance of collaboration among relevant institutions and organizations to ensure efficient project execution. It also outlines the criteria for supporting projects, including the establishment of carbon emission baselines, the development of forest databases, and the recognition of sustainable practices.