Bangkok, Thailand – 16 May 2024 – National Science and Technology Development Agency (NSTDA) and Asia Carbon Institute (ACI) have entered into a Memorandum of Understanding (MOU) to collaborate in the development of carbon credit methodologies aimed at mitigating greenhouse gas (GHG) emissions across various sectors.

The MOU was signed by Mr John Lo, Founder of ACI, and Prof. Dr. Sukit Limpijumnong, President of NSTDA, and witnessed by Mr Wichai Thongtang, the Advisor to this collaboration and Mr. Pongpanu Svetarundra, Chairman of Thailand Greenhouse Gas Management Organisation (TGO).

This strategic partnership underscores the commitment of both organisations to share knowledge and resources on carbon credit methodology development. As well as to accelerate the development of methodologies for new types of GHG mitigation projects in the technology-based area and urban environment.

John Lo, representing ACI, shared his excitement about the partnership, stating, “This MOU signifies a major milestone in our mission to improve integrity of the carbon credit market in Asia. By collaborating with national partners like NSTDA, we aim to create more robust carbon credit methodologies that will incentivise further green investments and GHG mitigation projects in Thailand.”

Prof. Dr. Sukit Limpijumnong, representing NSTDA, added, “Our collaboration with the Asia Carbon Institute will harness our joint expertise to create methodologies that not only combat climate change but also foster sustainable development. This partnership aligns perfectly with our mission to drive scientific and technological progress for societal benefit.”

The MOU outlines the cooperative efforts to create, test, and implement carbon credit methodologies applicable to a wide array of sectors, including energy, industry, and agriculture. This initiative aims to standardise the calculation and verification of carbon credits, thereby ensuring transparency and credibility in the carbon markets.

This collaboration between ACI and NSTDA is expected to yield significant benefits, including the establishment of best practices for carbon credit projects, enhance capacity building, and the promotion of innovative technologies that contribute to GHG mitigation.

About National Science and Technology Development Agency (NSTDA): National Science and Technology Development Agency was established in December 1991 as an autonomous Thailand government agency under the National Science and Technology Development Act 1991. NSTDA is affiliated with the Ministry of Higher Education, Science, Research, and Innovation of Thailand, with the Minister serving as the chairman of NSTDA Governing Board.

NSTDA is entrusted with the important task of accelerating science, technology, and innovation development in Thailand to respond to the needs of the industry and enhance the country’s competitiveness in the global economy, thus contributing to national economic and social development. NSTDA’s mission is to perform and support Research and Development, Design and Engineering, Technology Transfer, Science and Technology, Human Resource Development, and Infrastructure Development. This mission is implemented through partnerships with academic, government, private, and non-government sectors, both domestically and internationally. For more information, please visit https://www.nstda.or.th/home/