BANGKOK, July 29 (TNA) – Thailand’s Ministry of Natural Resources and Environment has initiated a mangrove forest project in the eastern province of Chantaburi to sell carbon credits, the first of its kind in Thailand.
Executive Director Sirithan Pairoj-Boriboon of the Thailand Greenhouse Gas Management Organisation (TGO) said the TGO has worked with the Department of Marine and Coastal Resources and the Faculty of Forestry at Kasetsart University to assess the project of 10,000 rais (4,000 acres) mangrove forest in the Welu River basin in western Chanthaburi province to join the Clean Development Mechanism (CDM).
This project will be Thailand’s first forest project to sell carbon credit. Mangrove forests can absorb carbon dioxide at a higher rate than other types of woods and the selling price of the carbon credit is as high as 12 Euros per 0.4 acre on average, according to Mr. Sirithan.
By the end of the first commitment period of the Kyoto Protocol in 2012, the condition and mechanism of the carbon credit market for woods will be more clear, the TGO executive director said.
Meanwhile, Deputy Minister of Agriculture and Cooperatives Supachai Phosu said TGO and Kasetsart University also studied rubber plantations for carbon credit sales to help farmers earn more income.
He said 0.4 acre of a 25 year-old rubber plantation can absorb 43 metric tonnes of carbon dioxide, so it has potential to join the project to sell carbon credit. Similar projects will be extended to include plantations of other perennial plants. (TNA)
General News : Last Update : 13:50:07 29 July 2009 (GMT+7:00)
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