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22 Aug 2024

Econ Digest

Carbon credit mechanism and waste management solution in Thailand

คะแนนเฉลี่ย

        During the rainy season, the waste problem often intensifies due to heavy rain and flooding, which can lead to sanitation issues. Additionally, the decomposition of waste produces greenhouse gases beyond just carbon dioxide (CO2), such as methane (CH4) and nitrous oxide (N2O), which have a high potential for contributing to global warming.
        Thailand emits approximately 12.9 million tons of carbon dioxide equivalent in greenhouse gases from waste and waste management, or about 2.8% of the country’s total annual greenhouse gas emissions, leading to the need for the country to urgently address the problem of waste management.
        Waste management for carbon credit registration is one of the methods that many countries adopt to reduce greenhouse gas emissions and create added value from waste management.
Examples of waste management through carbon credit mechanisms in various countries
  • EU: In the process of considering the inclusion of projects that reduce greenhouse gas emissions from waste management in the EU Emissions Trading System (EU ETS), which is a compulsory mechanism.
  • Japan: Allow projects that reduce greenhouse gas emissions from waste management to register and receive carbon credits under the J-Credit Scheme.
  • US: There are several projects focused on reducing greenhouse gases from waste management such as composting organic waste and generating energy from waste, which can be registered for carbon credits under private sector standards such as Verra.
  • Thailand: The T-VER program or Thailand Voluntary Emission Reduction Program allows projects that reduce greenhouse gas emissions from waste management to register and receive carbon credits.
        KResearch believes that using a carbon credit mechanism will be another option to help reduce the impact of waste during the rainy season and effectively reduce greenhouse gas emissions, in addition to waste sorting and recycling.
Carbon credit projects in waste management
  • Composting organic waste: Reduce methane emissions from decomposition in landfills
  • Waste-to-energy: Burning waste to generate electricity and reduce fossil fuel consumption and greenhouse gas emissions.
  • Methane capture and reuse
  • Industrial wastewater management
        In the past, Thailand has traded carbon credits from waste management projects worth a total of THB39.9 million with the majority of trading volume in the industrial sector, including industrial wastewater management and methane gas capture and reuse.
        However, waste management through carbon credit mechanisms, such as waste fuel production and composting projects, currently has low volumes but high carbon credit trading values. The average price ranges between THB229 and 248 per ton, reflecting additional opportunities for both waste management and carbon credit revenue generation in Thailand.

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