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Table 1 

Overview of Market-Based Climate Mitigation Instruments in Thailand

Mechanisms/PolicyPotential Buyers of Carbon CreditsStatus (in 2016)
CDM, UNFCCC offset mechanism Actors in compliance regime (mainly EU) 154 projects registered, few issuinga 
Seven PoAs registeredb 
Voluntary market for project-based emission reductions Private sector (various) Thirty-five VCS projectsc 
Fifty-seven Gold Standardd 
JCM, Japanese bilateral offset mechanism Japanese government, to be used in its NDC Signed agreement in 2015 
Thailand Voluntary Emission Reduction Scheme (T-VER), set up by Thailand Greenhouse Gas Organization (TGO) Government bodies Launched Oct 2013 
Thai companies Twelve projects in 2015 
Thailand Carbon Offsetting Program (by TGO) Individuals Launched March 2013 
Organizations Two companies, four products, 259 individuals, and one seminar & event registered in 2014e 
Thailand Voluntary ETS (by TGO, under PMR) Trading among involved entities Pilot trading period 2015–17, involving eleven power plants and seven petrochemical companies 
Low-carbon city projects (by TGO, under PMR) To be used in T-VER  
Mechanisms/PolicyPotential Buyers of Carbon CreditsStatus (in 2016)
CDM, UNFCCC offset mechanism Actors in compliance regime (mainly EU) 154 projects registered, few issuinga 
Seven PoAs registeredb 
Voluntary market for project-based emission reductions Private sector (various) Thirty-five VCS projectsc 
Fifty-seven Gold Standardd 
JCM, Japanese bilateral offset mechanism Japanese government, to be used in its NDC Signed agreement in 2015 
Thailand Voluntary Emission Reduction Scheme (T-VER), set up by Thailand Greenhouse Gas Organization (TGO) Government bodies Launched Oct 2013 
Thai companies Twelve projects in 2015 
Thailand Carbon Offsetting Program (by TGO) Individuals Launched March 2013 
Organizations Two companies, four products, 259 individuals, and one seminar & event registered in 2014e 
Thailand Voluntary ETS (by TGO, under PMR) Trading among involved entities Pilot trading period 2015–17, involving eleven power plants and seven petrochemical companies 
Low-carbon city projects (by TGO, under PMR) To be used in T-VER  

aUNEP DTU (2017a), bUNEP DTU (2017b), cVCS (2016), dMarkit (2015), eTGO (2014).

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