Thailand is set to become the 16th nation to join the Joint Crediting Mechanism (JCM) later this week, as Japan continues to look for partner countries in which it can generate carbon offset credits by investing in clean projects.
The two nations will hold a signing ceremony in Tokyo on Thursday, a senior Ministry of Environment official told Carbon Pulse.
Thailand will become the sixth ASEAN member to join JCM, following Cambodia, Indonesia, Laos, Myanmar and Vietnam.
Japan has estimated that the scheme will generate around 50-100 million offsets by 2030.
So far, only seven projects have been registered with a combined capacity to cut just over 1,000 tonnes of CO2e per year. One more project is the pipeline.
By Stian Reklev – firstname.lastname@example.org