Carbon credit trading opens on FTIX platform tomorrow
The Federation of Thai Industries will allow registration for trading carbon credits on its FTIX platform on Monday, a senior federation official said on Sunday.
Suwit Torraninphanit, chief of the federation’s climate change committee, said the FTIX had been developed through cooperation between the federation and the Climate Action Leading Organization (CALO). It will be operated by the federation’s Climate Change Institute.
The institute will on Monday start allowing companies to register for trading carbon credits from the Thailand Voluntary Emission Reduction Program (T-VER).
Suwit said the FTIX would help Thai exporters reduce pressure from importing countries to comply with carbon emission reduction standards by allowing them to buy carbon credits.
He said the FTIX platform would make it more convenient for Thai businesses to shop for T-VER carbon credits. Currently, they are restricted to over-the-counter trade.
The FTIX platform will be supervised by a committee and managed by a joint committee of members from the federation and CALO.
This will ensure transparent trading as well as creating an effective alternative for businesses to reduce carbon commissions to increase their competitiveness, Suwit explained.
Suwit said the FTIX would register about 12,000 companies from 45 sectors.
CALO announced that 319 projects had been registered under the T-VER programme from the beginning of fiscal 2014 to the first quarter of fiscal 2023.
However, only 141 of the registered projects have been certified to trade 13.97 million tonnes of carbon dioxide equivalent (CO2e) and only 2.019 million tonnes of CO2e credits have been traded for a total of 152.95 million baht, according to CALO. In the first quarter of fiscal 2023 (from October to December 2022), nine projects were registered and eight of them have been certified to trade 460,600 tonnes of CO2e carbon credits, it said.
