January 25, 2024
BANGKOK – Carbon credits, representing the reduction of one tonne of carbon dioxide (CO2), have emerged as a crucial weapon in the ongoing battle against climate change.
These credits can be traded on the market, offering a means to offset emissions from various sources.
According to an article in Krungthep Thurakij (bangkokbiznews.com), forests are the key players in this fight. Their ability to absorb CO2 from the atmosphere and store it in their biomass makes them integral in the fight against climate change. Planting trees or safeguarding existing forests has become a powerful strategy to reduce greenhouse gas emissions.
Meanwhile, carbon credits from forests present a valuable source of income for forest owners and communities. Selling these credits becomes a financial reward for their efforts in protecting forests and mitigating climate change.
Contrary to general perception, obtaining carbon credits from forests is not that complicated. There are plenty of organisations specialising in helping forest owners to develop and trade these credits. The first step is identifying a well-managed forest with the potential to absorb or store significant amounts of CO2.
Once a suitable forest is pinpointed, the forest owner must devise a carbon management plan, detailing activities geared towards generating carbon credits. Approval from an independent third party is then sought for the plan, and upon approval, the forest owner can start the process of generating carbon credits.
These credits can be sold to a variety of buyers, including businesses, governments and individuals. The pricing of carbon credits is subject to several factors, such as forest quality, demand for credits and the state of the global economy.
The allure of carbon credits from forests lies in their potential to be a lucrative income source for forest owners and communities. By offering a financial incentive to protect forests, these credits play a vital role in curbing greenhouse gases and mitigating the effects of climate change.