VIENTIANE, March 5 (Xinhua) -- The Lao Ministry of Energy and Mines will collaborate with its development partners to create carbon market opportunities within the country's energy sector.
The ministry is working to establish the necessary policies and frameworks for carbon trading, with a focus on developing regulations and strategies that align with Laos' climate goals, according to the ministry's report on Wednesday.
Carbon markets are seen as a way to attract green investments and encourage innovation in renewable energy.
In addition to the energy sector, the Lao government is advancing carbon credit initiatives in forestry and agriculture. A feasibility study launched in January this year aims to increase forest cover to 70 percent of the country's land area to attract international investment in carbon trading and strengthen Laos' climate commitments. ■
