Thai-Swiss Deal Sets Paris Agreement Carbon Offsets in Action
...Switzerland’s KliK Foundation, representing fuel importers, finalized the inaugural purchase of 1,916 carbon credits from Thailand’s Energy Absolute. This groundbreaking transaction demonstrates the potential of a nascent market for carbon credits
A Thai electric bus operator announced the sale of the initial carbon offsets under a new system established by the Paris Agreement to a Swiss fossil fuel group. Their deal marks a significant milestone in the implementation of the 8-year-old United Nations climate accord.
The Paris Agreement, formulated in 2015, permits governments and corporations to offset a portion of their greenhouse gas emissions by funding initiatives that mitigate climate pollutants elsewhere.
These offsets are converted into carbon credits, each representing the reduction of one metric ton of carbon dioxide (CO2) emissions.
Unlocking Carbon Offsets with Thailand’s Electric Bus
In December, Switzerland’s KliK Fo( article continues at CarbonCredits.com )