The demand for carbon credits in the future is likely to increase dramatically, thanks to the current level of awareness, both at the national level and at the corporate level, of the goal of achieving Carbon Neutrality and Net Zero Emissions. The Thailand Greenhouse Gas Management Organization (Public Organization), or TGO, has organized the Thailand Voluntary Emission Reduction Program or T-VER, which acts as a registration provider and certifies the amount of greenhouse gasses that can be reduced or stored, called “carbon credits.” Business operators accumulate carbon credits for their business operations and create a good image for the organization, showing them to be a part of the solution to environmental issues.
The T-VER project has three types of operations to support those who are interested in participating in the project:
1. Single Project: To conduct activities to reduce greenhouse gas emissions in a single location;
2. Bundling Projects: To conduct activities to reduce greenhouse gas emissions at multiple locations within a credit period. Project developers may use a single project proposal document to apply for project registration, with the following requirements:
- The project developers must specify details of every sub-project in the project proposal document, such as the number of Component Project Activities, location of each sub-project, technology, installation capacity, etc.;
- There is no limit on the size of the project, but the total size of all projects must not exceed the requirements of the selected greenhouse gas reduction method;
- They have to use the same voluntary greenhouse gas reduction method (T-VER Methodology);
- In case the total size of all projects falls within the scope of large projects, they are subject to proof of additional operations or classified as a positive list project.
3. Program of Activities (PoA): To conduct projects to reduce greenhouse gas emissions within a framework and have Component Project Activities with multiple locations and the same project type. The credit period for each sub-project group may not be the same; the requirements for project development, and work plans are as follows:
- To clearly specify the project framework (T-VER PoA) and use the form prescribed by the TAO;
- The projects may have multiple locations and may be grouped together. Each group may have a single project or several projects, called Component Project Activities (CPA);
- All Component Project Activities must be of the same type;
- In checking whether the project can be developed as a T-VER project and in determining the start date for sub-project credit, the same criteria apply as for a single project;
- All Component Project Activities must use the T-VER Methodology;
- A Component Project Activity must be of micro scale, and all Component Project Activities must already be included. The greenhouse gas emissions that are expected to be reduced or retained, according to the T-VER PoA, must not be more than 60,000 tCO2e per year;
- It is possible to add Component Project Activities continuously within the life of the work plan framework specified by the TGO, and each Component Project Activity has a different credit period;
- The projects must be registered for the T-VER project (the work plan together with Component Project Activity 1), using the project proposal document form as specified by the TAO, and they must pass validation from external assessors;
- To add Component Project Activities 2, 3, 4, etc., prepare project proposal documents, as specified by the TAO, and submit them to the TAO for registration of additional Component Project Activities, without validation from external assessors;
- When applying for certification of carbon credits, the project developers must prepare a monitoring report for every Component Project Activity and must pass verification from external assessors, and they must be sent to the TGO for certification of carbon credits.
Individuals or organizations interested in the T-VER project should contact the Greenhouse Gas Reduction Mechanism, Thailand Greenhouse Gas Management Organization (Public Organization), or see details at https://ghgreduction.tgo.or.th/th/contact.html.
Source : Greenhouse Gas Mitigation Mechanism
Tel :+66 2141 9841 9
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