What is Carbon Credit?
“Carbon Credit” refers to the amount of greenhouse gases reduced or sequestered through various greenhouse gas reduction mechanisms, both domestically and internationally. The unit of measurement is in tons of carbon dioxide equivalent, which can be used to report the results of greenhouse gas reduction from activities or measures, bought, sold, offset, or traded through various mechanisms.
Types of Carbon Credits
Carbon credits come in various types depending on the greenhouse gas reduction mechanisms implemented. For example, carbon credits from the Clean Development Mechanism (CDM) are traded between developed countries with commitments to reduce greenhouse gases under the Kyoto Protocol and developing or least-developed countries that carry out greenhouse gas reduction projects under the CDM.
Carbon Credits in Thailand
In Thailand, the Thailand Voluntary Emission Reduction Program (T-VER) has been developed by the Thailand Greenhouse Gas Management Organization (TGO) to encourage and support all sectors to voluntarily participate in reducing greenhouse gases within the country. T-VER allows private and public sectors to engage in greenhouse gas reduction, contributing to environmental protection while also enabling the trade and offset of carbon credits in the carbon market.
