The Stock Exchange of Thailand (SET) and Intercontinental Exchange (ICE) have signed a Memorandum of Understanding (MoU), effective February 2025, to advance Thailand’s carbon market development, regional media has reported.
This collaboration will leverage ICE’s expertise in global energy and environmental markets alongside SET’s infrastructure and policy alignment to establish a transparent carbon trading platform.
SET president Asadej Kongsiri emphasized that carbon credit trading is crucial 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,” he was quoted as saying by The Bangkok Post.
The forthcoming legislation will introduce carbon taxation, emissions trading, and carbon credits as key pricing mechanisms.
“The SET is committed to studying and evaluating options for developing the required trading infrastructure to ensure a fair, transparent, and reliable carbon trading platform,” Asadej explained.
Relevant: Thailand Sees First Purchase Of Forest Carbon Credits In Khon Kaen Province
ICE, as the operator of the world’s largest energy and environmental derivatives markets, will provide critical insights to shape Thailand’s carbon market framework.
Gordon Bennett, ICE Global Head of Environmental Markets, highlighted ICE’s role in supporting carbon markets.
“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,” he said.
The partnership aims to develop a fully integrated carbon market ecosystem, unlocking new opportunities for businesses and investors while contributing to Thailand’s Nationally Determined Contribution (NDC) under the Paris Agreement.
By leveraging ICE’s market expertise and SET’s regional leadership, the collaboration seeks to create a comprehensive carbon trading framework that supports emissions reductions and sustainable growth in Thailand.
Switzerland And Thailand Made The First Ever Carbon Credits Deal Under Article 6.2
