In 1994, approximately 16 million tons of CO2 emission was in Thailand's industrial process. Right now, it is estimated that such figure would increase to 20 million tons a year. If the CDM project could reduce the CO2 emissions by 10%, it could result in the carbon credit of 2 million tons a year. While the CER price would vary from time to time by demand and supply under the market mechanism, it is averaged that the price should be around 5 USD per ton of CO2 equivalent. The CDM projects would create the foreign earnings of 10 million USD or 400 million baht for Thai industrial sector annually. This would benefit Thai industrialists not only in terms of foreign currency but also in terms of modern technology to reduce GHG emissions locally. But the Thai entrepreneurs should take precautions that such a CDM project must receive approval from both national and international levels each of which is a lengthy and delicate process. There will be validation of methodology before being registered as a CDM project. Monitoring during the course of project operation will take place, and verification shall be made by the independent designated operational entity before receiving a definite amount of CER from the CDM Executive Board. This amount may not be exactly the same as initially planned.
For Thai entrepreneur who would like to have a joint venture with foreign investors in carrying out a GHG reduction project in the country, it is advisable not to rush into having a contract regarding a share and price of carbon credits accruing from the project. This kind of contract, if needed, should be opened for negotiation and conclusion in the future. However, it is also sensible for the foreign investor to have an assurance from the Thai counterpart from the beginning that the latter will not sell the carbon credits to the others. Industrial entrepreneurs who may have some enquiry in this respect can contact the Department of Industrial Works either by webboard or in person. We would be more than willing to give advice for the benefits of Thai entrepreneurs and for the interest of the country as well.
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