The Thailand Greenhouse Gas Management Organization (TGO) is introducing a standard to regulate carbon credit trading under the Thailand Voluntary Emission Reduction (T-VER) scheme.
Credits under T-VER will be open to trading locally next year.
221 CDM projects
T-VER has been developed as a local carbon offset programme using the internationally recognised methodology of measuring carbon emissions based on Clean Development Mechanism (CDM) sets from the Kyoto Protocol, US carbon market and Gold Standard Foundation based in Switzerland.
The TGO will introduce a measurement, reporting and verification system to standardise carbon credit transactions for targeted buyers, the government and private companies.
The TGO has so far approved 221 CDM projects.
T-VER is one of three projects introduced in the country’s voluntary carbon market, which is aimed at mitigating greenhouse gas emissions.
The other two are the Voluntary Emission Reduction (VER) programme and the Thailand Voluntary Emission Trading Scheme.
Projects eligible under T-VER include energy efficiency, alternative and renewable energy, solid waste and transport management, forestry and green areas, and agriculture.
The price of carbon credits and in particular CDM has decline sharply around the world. Prices of VER credits has remained resonably strong with average prices of USD 6 last year.
What the price of T-VER credits will be, will depend on the market situation, buyer discretion or arrangements between participants.
An important factor of the carbon programmes in Asia is the fact that they are designed to be comparable down the line throughout the continent, meaning T-VER credits can be traded elsewhere on the continent too.
It then remains to be seen if Thai businesses will buy credits to offset their emissions as part of their corporate social responsibility programme or government tax incentive.
Disney Invests USD 3.5 Million to Stop Deforestation
First Gold Standard Carbon Credit Project in Myanmar
Demand for Voluntary Offsets Surge
500M Profit on Delayed CO2 Tax
Clean Energy and Safe Drinking Water for Darfur