- The Stock Exchange of Thailand (SET) and Intercontinental Exchange (ICE) have signed a Memorandum of Understanding (MoU) to explore innovative solutions for Thailand’s and Asia’s emerging carbon markets.
- The collaboration will leverage both organizations’ strengths in data analytics, technology infrastructure, and market operations to assess feasibility, share insights, and design optimal market frameworks.
SET President Asadej Kongsiri mentioned that SET envisions carbon credit trading on a transparent platform as a key enabler for Thai and Asian businesses transitioning to a low-carbon economy. This initiative is a core part of our 2025 corporate strategy and aligns with Thailand’s national policy framework, particularly the Climate Change Act. The upcoming legislation will introduce carbon taxation, emissions trading, and carbon credit as core pricing mechanisms.
SET is committed to studying and evaluating options for developing the required trading infrastructure to ensure a fair, transparent, and reliable carbon trading platform. The partnership will benefit from ICE’s expertise as an operator of the world’s largest energy and environmental derivatives markets, providing SET with valuable insights for developing Thailand’s carbon market infrastructure.
ICE Global Head of Environmental Markets Gordon Bennett said: “Over the last two decades, ICE has built and operated financial technology and market infrastructure to support the growth of carbon markets. This experience makes ICE uniquely positioned to support Thailand in establishing a robust carbon market.”
The signing of the MoU with ICE, effective February 2025, marks a major step in developing a robust carbon trading platform in Thailand. By leveraging ICE’s financial technology and global environmental market expertise, SET aims to find the most suitable framework and mechanisms for the primary and secondary markets, paving the way for a comprehensive carbon market ecosystem in Thailand. The development of the fully integrated ecosystem will unlock new opportunities for Thai businesses and investors, driving meaningful contributions to the targets of the Nationally Determined Contribution (NDC).
