Bangchak Executive Drives ASEAN Carbon Market Collaboration at COP29 Side Event Panel Discussions in Azerbaijan

On 18 November 2024, Gloyta signed a Memorandum of Collaboration (MoC) supporting the development of the ASEAN Common Carbon Framework (ACCF). This framework aims to establish standards and guidelines for efficient and transparent carbon credit trading in the region, contributing to a low-carbon society. After the signing, she joined a panel discussion on "ASEAN Common Carbon Framework" with signatories from Singapore, Malaysia, Indonesia, and an ASEAN association to emphasize the importance of regional collaboration. They highlighted the benefits of knowledge sharing, resource optimization, and enhanced carbon market efficiency across ASEAN, which formed the foundation of the MoC.

In the second session, "From Zero to Carbon Hero: Unlocking the Power of Tech-Powered Carbon Credits," Gloyta was joined by representatives from Indonesia and Vietnam to discuss strategies for developing high-quality regional carbon credits. The session explored how advanced technologies can enhance data management, security, and efficiency in carbon credit trading. Ms. Gloyta shared examples from Bangchak Group's initiatives, such as BCPG's T77 Project with Sansiri Public Company Limited and Smart University Project with Chiang Mai University, which leverage blockchain technology for peer-to-peer solar energy trading. She also discussed the Plant D initiative, a collaboration between Bangchak, the Mae Fah Luang Foundation, the Department of Cooperative Promotion, and the Ministry of Agriculture. The project uses satellite monitoring and digital data management to comply with T-VER standards, ensuring credible and verifiable carbon credits while enhancing agricultural value and promoting clean energy.

These events served as platforms for exchanging experiences and collaborative strategies to strengthen and standardize the ASEAN carbon market. They align with the Carbon Markets Club's mission to raise awareness of the climate crisis and to promote carbon credit trading as a key enabler in the energy transition.

For more information on the Carbon Markets Club, please contact [email protected].