Qatar’s Global Carbon Council (GCC), an internationally recognized provider of high-integrity carbon credits, and Thailand’s Greenhouse Gas Management Organization (TGO) have signed a Memorandum of Understanding (MoU) to collaborate on sharing experiences on crediting mechanisms.
The partnership provides the opportunity for the Global Carbon Council to share its program standards and best practice-led frameworks with Thailand’s voluntary program, known as the Thailand Voluntary Emissions Reduction Program (T-VER), which promotes GHG emissions reduction activities to generate carbon credits and open Thailand’s links with the global carbon market, enhancing its capacity to achieve reduced GHG emissions.
This deal will see GCC provide TGO with its program standards, SDG labels, and E+ & S+ labels with the primary objective of upskilling TGO officials through webinars, workshops, training programs and other relevant events to allow GCC to share its expertise. This approach will create a collaborative environment between the two bodies to discuss best practices to develop baseline and monitoring methodologies and standardized baselines.
TGO is an autonomous public body that was established in 2007 to help stimulate Thailand’s low-carbon economy and reduce greenhouse gas (GHG) emissions. The organization works to accelerate and facilitate the development of greenhouse gas reduction projects in Thailand and to provide support to its partners, public, private and international organizations, in their climate action efforts.
“As an international carbon credit program, we are acutely aware of the unique challenges facing economies and industries seeking to undertake important climate action, particularly those in the Global South. Sharing our globally recognized and accredited standards and methodologies, under this MoU and in partnership with TGO, will expand the global carbon credit market and drive climate finance into Thailand’s carbon reduction and removal programs, helping to promote global sustainable development.”
Mr. Kiatchai Maitriwong, Executive Director of TGO, said that “Our collaboration will benefit the strengthening of the T-VER standard and harmonization with international and best practices, especially on sustainable development. Sharing information and expertise gained from managing the carbon credit programs will support the country’s goals under the Paris Agreement and contribute to sustainable growth at both national and international levels.”
The MoU between the TGO and GCC reinforces the global intent to establish an institutional structure to develop standards to mitigate GHG emissions, enhancing the ability of governments to implement robust, independent, transparent and accountable carbon reduction systems in the fight against climate change.