Thailand signs world’s first country-to-country carbon offsetting pact
Thailand and Switzerland have signed the world’s first country-to-country cooperation pact on offsetting carbon emissions.
The pact was inked by Natural Resources and Environment Minister Varawut Silpa-archa and his Swiss counterpart Simonetta Sommaruga in Bern on Friday. Varawut is visiting the Swiss capital on the first stop of his week-long European tour.
The cooperation pact under Article 6 of the Paris Agreement allows countries to voluntarily cooperate to achieve emission reduction targets set out in their nationally determined contribution (NDC).
According to a Thai-Swiss memorandum signed in May, the pact will allow Switzerland to offset its carbon emissions via climate projects in Thailand.
In return, Thailand will receive Swiss knowledge and expertise to drive its quest for carbon neutrality and net-zero greenhouse gas (GHG) emissions.
Varawut said the pact signing also celebrated the 90th anniversary of diplomatic relations between Thailand and Switzerland, which falls on Tuesday.
He said Thailand was now expected to be the first country to transfer carbon credits from clean energy and electric-vehicle support projects.
He added that this agreement will expand cooperation in tackling the climate crisis to the private and other sectors, bringing concrete results that would lead to sustainable development.
Thailand aims to achieve carbon neutrality by 2050 and reduce greenhouse gas emissions to zero by 2065.