BAAC supports communities in generating income from greenhouse gas sequestration
The Bank for Agriculture and Agricultural Cooperatives (BAAC) has teamed up with the Greenhouse Gas Management Organisation (TGO) and the Faculty of Forestry, Kasetsart University, to impart knowledge to the community on carbon sequestration according to the Low Emission Support Scheme and award certificates to communities that operate under the standard by converting the value of greenhouse gas sequestration into income, BAAC manager Thanarat Ngamwalairat said on Wednesday.
The BAAC has supported the community, providing THB100 per tonne of carbon – not more than THB50,000 per community – for 45 communities participating in the project involving a total of 880,791 trees accounting for 279,644 tonnes of carbon sequestration.
The BAAC and TGO are also cooperating to upgrade the valuable wood community to the Thailand Voluntary Emission Reduction Programme (T-VER) to extend the sale of carbon credits.
Two communities – Ban Li Tree Bank and Ban Daeng Tree Bank in Khon Kaen – have so far registered for the T-VER.
They are expected to produce 3,025 tonnes of CO2 carbon credits through the project period.
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