Papua New Guinea's Forestry Minister says PNG is close to bringing into law a UN programme aimed at reducing emissions and conserving forests.
Douglas Tomuriesa says the framework for REDD+ (Reducing Emissions from Deforestation and Forest Degradation) should become law in the current parliament sitting.
The programme aims to reduce greenhouse gas emissions through forest management in developing countries, and is linked to the emerging carbon credits market.
Mr Tomuriesa says legislation has passed through its first reading and the government has identified five major forest areas in PNG to conserve.
He says a number of developed countries considering reducing their emissions are looking at the carbon market.
"Where do they buy carbon credits for these emissions? Well, Papua New Guinea is here, and Papua New Guinea is putting its hands up to say that, hey, we're prepared to conserve our forest for REDD programmes for you to buy carbon credits."