Thailand is making significant strides in clean energy development as the government and businesses collaborate on various projects aimed at reducing carbon dioxide emissions. Initiatives such as increasing the use of renewable energy sources for electricity generation and promoting electric vehicles (EVs) are helping create new environmentally friendly businesses.

 

Companies that do not adhere to eco-friendly practices may face penalties, while those working to minimise environmental damage could gain certain benefits. One such penalty is the Carbon Border Adjustment Mechanism (CBAM), introduced by the EU to impose charges on manufacturers that do not follow environmentally friendly practices.

 

Thai businesses are also capitalising on carbon credit trading and renewable energy certificates (RECs) to combat global warming. Carbon credit trading enables companies to sell credits from reduced emissions to other organisations struggling to meet their reduction targets. Meanwhile, RECs encourage power plant owners to generate electricity from clean fuels, with each REC certifying that the bearer generates one megawatt-hour (MWh) from renewable energy resources.

 

By Alex Morgan

Caption: IMAGE via Unsplash

 

Full Story: https://thethaiger.com/news/business/thailand-advances-in-clean-energy-and-carbon-credit-trading

 

-- © Copyright Thaiger 2023-05-29

 

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11 hours ago, snoop1130 said:

Companies that do not adhere to eco-friendly practices may face penalties, while those working to minimise environmental damage could gain certain benefits

Nuff said.

Carbon credit trading does nothing to reduce carbon emissions.  It's just a money grab.

How about fining countries that burn their land down every year?

Edited May 29, 20233 yr by rwill

2 hours ago, rwill said:

Carbon credit trading does nothing to reduce carbon emissions.  It's just a money grab.

How about fining countries that burn their land down every year?

Correct. Carbon trading just shifts emissions from one place to another, making some people richer but ordinary people poorer.

Carbon trading is just Pay to Pollute. 

I was wondering how much carbon trading does China pay probably nothing

At least Thailand does not have a carbon tax. Thankfully.