Cooperation between TGO and the Future of Carbon Market Foundation regarding the support of the Thailand Low Carbon Cities Programme (LCCP)
through cancellation of TVERs
In January 2019, Thailand Greenhouse Gas Management Organization (Public Organization) or TGO entered into a cooperation with the Future of Carbon Market Foundation, a German foundation established by the Federal Ministry for the Environment, Nature Conservation and Nuclear Safety (BMU) and managed by the KfW Bank,to promotegreenhouse gas reduction activities, registered as Thailand Voluntary Emissions Reduction (T-VER) projects, in associated cities and municipalities across Thailand.
2. Type of support
The Foundation will provide result-based financial support foreligible T-VER projects on the basis of emissions reduction achieved (issued T-VER credits or TVERs)from 2015 – 2020 in the amount of 8 EURO per TVERs issued and cancelled on behalf of the Foundation. The Foundation will support up to 225,000 TVERs or 1.8 million EUROin total.
3. Eligible T-VER projects
The eligible T-VER projects must fall under the following 5 intervention types: (1) LEDs; (2) Biogas; (3) Refused Derived Fuel; (4) Solar PV; and (5) landfill gas recovery and must be approved mutually by TGO and the Foundation. The initial list of eligible projects includes 17 projects. In early 2020, TGO and the Foundation agreed to additional 14 projects managed by local administrative organizations(31 T-VER projects in total). TGO is currently in consultation with the Foundation on the possibility to include other local private sector T-VER projects which are related to public service and generate substantial social and environmental co-benefits to cover the remaining delivery amount.
4. Support received
As of 1 January 2020, TGO successfully supportslocal administrative organizations’ access to financial support from the Foundation in the amount of 90,112 EURO (11,264 TVERs x 8 EURO). The financial support received can be used by the local administrative organizationstomaintain and further develop greenhouse gas reduction projects as well as supporting other activities related to combating climate change such as capacity building and awareness raising.