Highlight of the news:

Oil companies impacted by the carbon tax can use voluntary carbon markets to offset costs. These decentralized platforms allow the buying and selling of carbon offset credits, which require transparent and reliable accreditation methods to function effectively.

In May 2024, Thailand’s National Science and Technology Development Agency (NSTDA) collaborated with the Asia Carbon Institute (ACI) to create advanced carbon credit methodologies for reducing GHG emissions. Their goal is to establish strong accreditation processes and transparent registries to standardize carbon credit calculations, boost investor confidence, and promote green investments.

Read the news: https://www.pdlegal.com.sg/thailands-new-carbon-tax-proposal-targets-the-petroleum-industry/

ORIGINAL POST IN PDLegal LLC, BY LESTER KUO, GERARD QUEK AND PAUL PAPON CHAROENPAO, ON 31 JANUARY 2025