The Doha-based Global Carbon Council (GCC), the first international carbon credit and sustainable development program signed a memorandum of understanding (MoU) with the Thailands Greenhouse Gas Management Organization (TGO) to to share experiences on crediting mechanisms.
The partnership provides the opportunity for GCC the Middle East &amp;amp; North Africas first voluntary carbon offsetting program to share its program standards and best practice-led frameworks with Thailands voluntary program, known as the Thailand Voluntary Emissions Reduction Program (T-VER), which promotes GHG emissions reduction activities to generate carbon credits and open Thailands links with the global carbon market, enhancing its capacity to achieve reduced GHG emissions.
This deal will see GCC provide TGO with its program standards, SDG labels, and E+ &amp;amp; S+ labels with the primary objective of upskilling TGO officials through webinars, workshops, training programs and other relevant events to allow GCC to share its expertise.
This approach will create a collaborative environment between the two bodies to discuss best practices to develop baseline and monitoring methodologies and standardized baselines.
Founding Chairman of GCC, Dr. Yousef Alhorr, said, “As an international carbon credit program, we are acutely aware of the unique challenges facing economies and industries seeking to undertake important climate action, particularly those in the Global South.
Sharing our globally recognized and accredited standards and methodologies, under this MoU and in partnership with TGO, will expand the global carbon credit market and drive climate finance into Thailands carbon reduction and removal programs, helping to promote global sustainable development.” For his part, Executive Director of TGO, Kiatchai Maitriwong, said, “Our collaboration will benefit the strengthening of the T-VER standard and harmonization with international and best practices, especially on sustainable development. Sharing information and expertise gained from managing the carbon credit programs will support the countrys goals under the Paris Agreement and contribute to sustainable growth at both national and international levels.”
GCC is the first international carbon credit and sustainable development program based in the Global South. The GCC Program is contributing to a more sustainable and low-carbon future, by issuing carbon credits to projects from around the world that add to sustainable development.
The Program only accepts high-quality projects that have demonstrated their additionality in the reduction and removal of GHG emissions, while ensuring that project construction and operations do not cause any net-harm to the environment and society and contribute to the United Nations Sustainable Development Goals (SDGs).
TGO was established in 2007 as a public organization under the supervision of the Minister of Natural Resources and Environment in accordance with Thai law to manage and expedite the development and implementation of greenhouse gas reduction projects and support public, private and international organization partnerships to promote the implementation of climate action.
Source: Qatar News Agency