Thailand aims to introduce a new carbon credits market this year as the Southeast Asian nation seeks to address weak demand and low prices.
Pornanong Budsaratragoon, Secretary-General of the nation’s Securities and Exchange Commission, said the country needs a much more active carbon credit market.
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| Thailand to launch new carbon credits market, Source: freepik.com |
The Stock Exchange of Thailand will offer trading expertise and a wider base of investors to help the carbon credits market succeed, she said.
According to a report released by BloombergNEF recently, Thailand’s domestic trade in carbon offsets has been hampered by oversupply that’s weighed on prices. About 3.5 million tonnes of credits were purchased between 2016 and October last year, while about 20.5 million tonnes of credits were generated over the same period.
Thailand also makes some sales into international markets, and has signed recent pacts for country-to-country trading of credits.
Along with other Southeast Asian nations like Indonesia, Malaysia, and Vietnam, Thailand is seen as holding major potential to supply global demand as trading in carbon credits picks up.
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