CMC-MEX signs MOU to connect Asian carbon markets, supporting Thailand's T-VER internationally and indicating continued growth in the Thai market.

Carbon Markets Club (CMC), Thailand's carbon network, signed a strategic Memorandum of Understanding (MOU) with the Macau International Carbon Market (MEX), opening up Thailand's T-VER carbon credits to buyers in international markets and developing human resources under the framework of the Article 6 agreement of Paris, in response to the rapid growth of the Thai carbon market, particularly renewable energy and forestry projects, which have received the highest trading interest.

25 November 2568 – CMC Which is an independent network founded by Bangchak Corporation Public Company Limited BCPG Public Company Limited In 2021, together with nine other partner organizations, we signed an MOU with MEX, an international carbon trading platform, to promote the international trading of environmental assets.

The main objectives of this collaboration are to:

• Connecting the Market: Connecting CMC's network of carbon projects in Thailand to the MEX trading platform.
• Enable cross-border trading opportunities: Create avenues for cross-border trading of carbon credits (particularly Thai T-VER projects) and Renewable Energy Certificates (RECs).
• Transparency and Standards: Developing a connected, transparent and internationally standardized carbon market infrastructure in Asia.

Ms. Kloyta Na Thalang, Deputy Managing Director, Sustainability Management and Corporate Communications, Bangchak Corporation and Chairwoman of CMC He said the collaboration with MEX is an important step in connecting Thailand's T-VER project to the international market, which aligns with CMC's goal of fostering a strong and sustainable carbon market in the region.

Ms. Meng Meng, General Manager of MEX He emphasized that this collaboration will enhance liquidity in the Asian carbon market and enable high-quality Thai T-VER carbon credit projects to reach buyers in international markets, as well as bring environmental assets such as Green Energy Certificates (GECs) into the Thai market.

In addition to the trading mechanism, both parties agreed to jointly implement a capacity building project, focusing on operations within the framework of international cooperation under Article 6 of the Paris Agreement. This initiative is intended to support businesses in adapting and operating in line with global carbon market standards.

WhyMr. Rawee Boonsinsuk, Chief Executive Officer and Managing Director of BCPG Public Company Limited He added that the trading of RECs and T-VERs is a key strategy to drive the concrete development of renewable energy businesses. The core of this collaboration is to create a reliable, transparent, and efficient market to accelerate the transition to a low-carbon economy in Asia.

The platform integration will expand market opportunities for entrepreneurs both in Thailand and abroad, particularly in the trading of RECs, a key mechanism for driving greenhouse gas emission reduction.

Overview of the Thai T-VER Carbon Credit Market

However, Thailand's voluntary carbon market (T-VER) has shown significant growth in recent years, reflecting the private sector's increasing interest in offsetting greenhouse gas emissions:

• Trading Volume Growth: The T-VER carbon credit market saw trading volumes increase by over 400% in the first 8 months of 2565 compared to 2564, and in the first 2 months of 2566, trading volumes continued to increase by 5 times compared to the same period of the previous year.
• Most Interest Projects: Renewable energy greenhouse gas reduction projects received the most interest in trading, with solar power projects leading the way.
• High-priced projects: In terms of value (price per ton), projects in the forestry and agriculture sector, such as the P-REDD+ project (the Reduction of Greenhouse Gas Emissions from Deforestation and Forest Degradation Project), are trading at significantly higher prices than the market average.

The thriving domestic T-VER market, particularly in the energy and forestry sectors, is a key factor in strengthening Thailand's carbon credit potential and attractiveness for international expansion through collaboration with MEX.