According to the Bangkok Post, the Industrial Areas Authority of Thailand (IEAT) has received a $100 million loan from the World Bank to support projects aimed at reducing carbon dioxide emissions in industrial parks and carbon credit trading.
The organization aims to promote the use of ground-based photovoltaic power stations, floating photovoltaic power stations, and rooftop solar panels.
IEAT hopes to use the lower utility costs in industrial parks to reduce costs, while generating revenue through carbon credits.
Carbon credits represent the greenhouse gas emissions reductions achieved by environmental projects. These credits can be sold to companies that wish to offset their own emissions, making them an important tool in global climate strategies. These carbon credits will be certified by the gold standard, which is a recognized benchmark for measuring the quality and integrity of carbon dioxide reduction projects.
The budget of $100 million is part of the $200 million loan provided by the World Bank to Thailand, which aims to support Thailand's low-carbon city and carbon market development plans.
At the end of last year, the Cabinet approved the plan and instructed the Ministry of Finance to provide guarantees for loans provided by the Export Import Bank of Thailand.
A preliminary study by the World Bank has found that the Map Ta Phut and Laem Chabang industrial zones of IEAT have the potential to carry out projects related to carbon credit trading. The Ministry of Energy is preparing to select development areas and invite investors to participate in renewable energy projects. Thailand strives to reduce its accumulated greenhouse gas emissions by 2.33 million tons of carbon dioxide equivalent within 10 years.
