Kasikorn Bank has partnered with the Greenhouse Gas Management Organization (GHGMO) to sign a memorandum of understanding aimed at studying and developing the carbon credit trading business and carbon credit management. This initiative supports entrepreneurs and the general public in participating in sustainable greenhouse gas reduction, making carbon credit trading more accessible and practical, while pushing Thailand towards achieving Net Zero.

Mr. Pipit Anuknit, Managing Director of Kasikorn Bank, stated that the bank operates under the principles of a Bank of Sustainability, aiming to encourage Thai people to engage in sustainable greenhouse gas reduction through various projects under the concept of GO GREEN Together. Many people may still not fully understand the concept of carbon credits, which has historically limited carbon credit trading in Thailand to large organizations. However, growing environmental awareness has invigorated the carbon credit market, with trading volume and value in the first two months of 2023 increasing more than five times compared to the previous year. This presents opportunities and incentives for those interested in the carbon credit market alongside sustainable greenhouse gas reduction. The bank collaborates with the GHGMO, a partner sharing the same vision, which has expertise and plays a crucial role in driving greenhouse gas reduction in Thailand, to develop access to carbon credit trading for creating a green society together.

Mr. Kiatchai Maitriwong, Director of the GHG Management Organization (Public Organization), mentioned that the GHGMO promotes and supports greenhouse gas reduction in Thailand, with a primary role in setting standards and evaluating success in reducing or sequestering greenhouse gases, known as "carbon credits." Additionally, it develops standards for all sectors to participate in assessing greenhouse gas emissions, referred to as "carbon footprints," at various levels including individuals, meetings, events, products, private and public organizations, local governments, cities, and provinces. Moreover, the GHGMO promotes mechanisms for utilizing standardized carbon credits to offset emissions in sectors exceeding targets through carbon market mechanisms. However, the limited carbon credit trading in Thailand is due to an imbalance between supply and demand, a lack of incentives, and legal and regulatory constraints that may hinder trading. Therefore, collaborating with Kasikorn Bank serves as a driving force to genuinely promote a low-carbon society, supporting the country’s progress towards becoming Net Zero.

This collaboration between Kasikorn Bank and the GHG Management Organization involves a memorandum of understanding for studying and developing the carbon credit trading business and carbon credit management. This aims to support entrepreneurs and the general public in participating in sustainable greenhouse gas reduction. Together, they will study and develop innovations and infrastructure related to carbon credit trading, ensuring they meet the needs of those interested in trading carbon credits. This includes exploring the integration of new technologies and innovations, such as blockchain systems, to enhance the registration, trading, and transfer of carbon credits, making it suitable for all user groups, including large organizations, SMEs, and the general public, ensuring accessibility and practicality. This collaboration will increase the prevalence of carbon credit trading in Thailand, stimulating social and economic change, which is essential for sustainable greenhouse gas reduction and advancing Thailand towards its Net Zero goals.