Thai Electric Bus Operator Completes the First Sales of Paris Agreement Carbon Offsets

Thai Electric Bus Operator Completes the First Sales of Paris Agreement Carbon Offsets

BY  
Jordy Leo  
- January 10, 2024

Thai electric bus operator Energy Absolute has sold 1,916 carbon offset credits to KliK Foundation, a Swiss fossil fuel group, as reported by Reuters on January 8. These carbon credits are the first batch generated from Energy Absolute’s Bangkok E-Bus Program, the first emission reduction program authorized under Article 6 of the Paris Agreement in Asia, and the second globally. Energy Absolute generated these credits by operating a fleet of up to 4,000 electric buses in Bangkok, replacing petrol-fueled vehicles. The credits were priced at more than USD30 per credit, but the exact value of the deal has yet to be disclosed. The Swiss company has agreed to buy offset credits for up to 1.5 million tons of carbon dioxide emissions through 2030 from Energy Absolute, as part of its plan to purchase 20 million credits by the end of the decade.

Energy Absolute positions itself as a pioneer in the field of carbon offsets, stating the substantial potential of the market. According to Article 6.2 of the Paris Agreement, countries can adopt a system of national accounting for greenhouse gas emissions with common principles to realize cross-border carbon credit exchanges, known as Internationally Transferable Mitigation Outcomes (ITMO). The recent transaction builds on an ITMO purchase agreement inked between Energy Absolute and KilK Foundation in June 2022. This landmark deal is expected to contribute to the electrification of Thailand’s mobility sector and help the Swiss oil importer offset its emissions. Furthermore, it may inspire other private sector entities in Thailand and worldwide to speed up their climate action.

S****ources:

https://www.reuters.com/business/environment/swiss-thai-groups-close-first-sale-paris-agreement-carbon-offsets-2024-01-08/

https://www.klik.ch/news/news-article/climate-protection-programme-approved-by-switzerland-thailand

https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/energy-transition/010824-switzerland-thailand-conclude-first-article-62-deal-in-landmark-move-for-carbon-markets

지금 바로 Seneca ESG 툴킷 사용 시작하기

포트폴리오의 ESG 성과를 모니터링하고, 나만의 ESG 프레임워크를 만들며, 더 나은 비즈니스 의사결정을 내리세요.

Toolkit

Seneca ESG

관심 있으신가요? 지금 문의하세요

문의하려면 오른쪽 폼을 작성하시거나 아래 이메일 주소로 연락 주십시오.

sales@senecaesg.com

싱가포르 지사

7 Straits View, Marina One East Tower, #05-01, Singapore 018936

+(65) 6223 8888

바르셀로나 지사

Carrer de la Tapineria, 10

Ciutat Vella, 08002, Barcelona, Spain

+34 612 22 79 06

타이베이 지사

77 Dunhua South Road, 7F Section 2, Da'an District Taipei City, Taiwan 106414

(+886) 02 2706 2108

리마 지사

Av. Santo Toribio 143,

San Isidro, Lima, Peru, 15073

(+51) 951 722 377