PUBLISHED: 27 Sep 2024 at 04: 00
The country’s carbon trading scheme, according to the Royal Forest Department ( RFD), will be a crucial tool in the fight to protect Thailand’s forests. Additionally, the community that took part in its pilot programme in 2015 has generated over seven million baht in carbon credits so far.
RFD director-general, Surachai Achalaboon, said coal trading plans may be an integral part of environmental protection work because they give nearby communities visible advantages for protecting forests, at an event called Carbon Credit Trade for Sustainable Forest Management yesterday.
He pointed to the success of Ban Khong Ta Bang in Phetchaburi’s Tha Yang district, which joined the Thailand Voluntary Emission Reduction Program (T-Ver ) in 2015.
With help from the RFD, Kasetsart University, the Mae Fah Luang Foundation, and the Ratch Group, an independent authority manufacturer, the society, which is home to 1, 397 ray of forest area, took an active part in protecting the environment, by planting more trees and rehabilitating old-growth forests, he said. According to Mr. Surachai, their efforts over the past seven years have resulted in 5, 259 tonnes of carbon record for the group.
Three private firms, including PTT Exploration and Production, have expressed interest in buying carbon credits from Ban Khong Ta Bang, which is valued at 7.09 million ringgit in full.
The Ban Khong Ta Bang Community Forest Foundation will receive the sales revenues.
According to Mr. Surachai, the market for carbon credit trade is anticipated to expand more as a result of increased industrial sector demand.
” This is a win-win situation. He said locals benefit from strong earnings from their forests while supporting the country’s goal of carbon neutrality by 2050 and net zero emissions by 2065.
According to Mr. Surachai, 276 additional communities are putting in applications, and 121 area forests nationwide have already been registered under the T-Ver program.