MoU Signing Ceremony of the Carbon Markets Club
โพสต์เมื่อ : 7 เม.ย 2565 เวลา 4:4 น.
Bangchak Group joins 11 organizations to establish “Carbon Markets Club”
Bangchak Group, with Bangchak Corporation, BCPG, and BBGI invite 11 leading organizations to jointly establish the Carbon Markets Club in an online memorandum of understanding signing ceremony to support digital carbon credit and Renewable Energy Certificate (REC) trading to reduce greenhouse gases for the first time in Thailand, toward a Net Zero society, with leading environmentalists purchasing personal carbon credits to offset their daily carbon footprint.
Chaiwat Kovavisarach, President and Chief Executive Officer of Bangchak Corporation Public Company Limited stated that it well known that the effects of climate change have brought countries around the world to come to together to maintain global temperatures increase below 1.5°C to 2.0°C relative to pre-industrial levels. The energy transition from fossil fuels to green or clear energy is vital in this endeavor, but with limited progress, and in reality fossil fuels are set to remain with us for many more decades. At the same time, green technology and innovation requires governmental measures or tax incentives to support.
Carbon trading is critical in addressing this challenge. Entities or organizations that emit or benefit from heavy industry or use fossil fuels must have increased costs through carbon credit acquisition or alternative taxation, whereby the collected capital will be invested in the development of green industries. This has revealed non-tariff barriers from various countries, such as the European Green Deal which serves as capital for renewable energy development. The Carbon Markets Club will enable us to prepare to meet these challenges and foster new trade opportunities.
Today’s online MOU signing ceremony between the eleven founding members of the Club brings together leading Thai organizations who are committed to reducing the effects of carbon emissions through carbon trading, namely, Bangchak Corporation Public Company Limited, Electricity Generating Authority of Thailand (EGAT), BCPG Public Company Limited, BBGI Public Company Limited, Charoen Pokphand Group Company Limited, The Shell Company of Thailand Limited, Kasikorn Bank Public Company Limited, Bank of Ayudhya Public Company Limited, Tetra Pak (Thailand) Company Limited, Bangkok Industrial Gas Company Limited, and BTS Group Holdings Public Company Limited.
These 11 organizations who have supported the establishment of the Carbon Markets Club are committed to support, raise awareness, and promote carbon trading, including the Thailand Voluntary Emissions Reduction Program (T-VER) by the Thailand Greenhouse Gas Management Organization (TGO) (Public Organization) or the Renewable Energy Certificate by the Electricity Generating Authority of Thailand. The has set out to develop the present over-the-counter mode of trade into a digital platform that is convenient and modern, supporting e-registration with registration and accreditation agencies, as well as e-carbon trading, integrating Blockchain trading technology towards decentralized finance, which is gaining in popularity.
Today, the Club was congratulated by executives from the Stock Exchange of Thailand (SET), The Federation of Thai Industries (FTI) and the Thailand Greenhouse Gas Management Organization (TGO) (Public Organization) and supports the growth of the network to include listed companies, and companies in the Federation of Thai Industries from numerous sectors to participate in the future.
Moreover, the Club’s Founding Members debut carbon trading transaction, including carbon credit on T-VER and REC, joined by leading environmentalists Dr. Thon Thamrongnawasawat, marine scientist, Piphat Apiraktanakorn, environmentalist, and Pongsuk Hiranprueck, presenter for Beartai Hitech, who purchased personal carbon credits to offset their daily greenhouse gas emissions, to raise social awareness that carbon trading is not limited only to organizations and companies. Everyone has a carbon footprint created from the emission of greenhouse gases in our daily lives, and everyone can help to reduce its effects by leading a low carbon lifestyle, and offsetting emissions by buying carbon credits. The event recorded transactions of 2,564 tCO2, equivalent to planting about 298,000 trees or 1,490 rais of forest. The credits provided by BCPG Public Company Limited and EGAT, a REC retailers, will use the proceeds to fund environmental programs.
“I believe that today’s MOU is the only the first step that everyone and every organization can cooperate to promote carbon trading at the organization and personal level, which is one way we will become a Net Zero society for a better world” Chaiwat concluded.