Reference
·Primary source
T-VER credit issuance volume (2020-2024)
~16.5 MtCO2e cumulative
TGO's T-VER programme issued an estimated 16.5 million tonnes of CO2-equivalent credits cumulatively through end-2024, with annual issuance scaling from roughly 1.5 MtCO2e in 2020 to approximately 5.5 MtCO2e in 2024. The acceleration is driven by methodology approvals across solar, biomass, biogas, and afforestation categories, plus corporate buyers needing offsets for net-zero pledges (PTT 2050, SCG 2050, Banpu 2025, CPF, Thai Beverage). Annual issuance is forecast at 7-9 MtCO2e for 2025 as Premium T-VER projects clear verification queues.
Figure in context
TGO's T-VER programme issued an estimated 16.5 million tonnes of CO2-equivalent credits cumulatively through end-2024, with annual issuance scaling from roughly 1.5 MtCO2e in 2020 to approximately 5.5 MtCO2e in 2024. The acceleration is driven by methodology approvals across solar, biomass, biogas, and afforestation categories, plus corporate buyers needing offsets for net-zero pledges (PTT 2050, SCG 2050, Banpu 2025, CPF, Thai Beverage). Annual issuance is forecast at 7-9 MtCO2e for 2025 as Premium T-VER projects clear verification queues.
Interpretation notes
What this tells you
TGO's T-VER programme issued an estimated 16.5 million tonnes of CO2-equivalent credits cumulatively through end-2024, with annual issuance scaling from roughly 1.5 MtCO2e in 2020 to approximately 5.5 MtCO2e in 2024. The acceleration is driven by methodology approvals across solar, biomass, biogas, and afforestation categories, plus corporate buyers needing offsets for net-zero pledges (PTT 2050, SCG 2050, Banpu 2025, CPF, Thai Beverage). Annual issuance is forecast at 7-9 MtCO2e for 2025 as Premium T-VER projects clear verification queues.
What not to do with it
Annual issuance volume in MtCO2e. Cumulative stock through end-2024 is ~16.5 MtCO2e. Retired credits run ~40-50% of issuance.
Related figures
Adjacent numbers that add context without drowning the value.
Thailand T-VER registered project count (2020-2024)
Thailand Greenhouse Gas Management Organization, T-VER Programme annual report, Ministry of Natural Resources and Environment
Thailand carbon services sector revenue (2020-2024)
TGO, industry estimates, BCPG/GULF/EA sustainability reports, Bureau Veritas / SGS / DNV Thailand disclosures
Average T-VER credit price (THB per tCO2e, 2020-2024)
Thailand Greenhouse Gas Management Organization, Carbon Markets Club, F&BS Thailand reports
T-VER project type mix by methodology
Thailand Greenhouse Gas Management Organization, T-VER project register, Carbon Markets Club analysis
Thai exporter EU CBAM Phase 2 cost exposure
European Commission CBAM technical guidance, Federation of Thai Industries, BOT, TGO impact modelling
Switzerland-Thailand Article 6.2 ITMO transaction
Swiss Federal Office for the Environment, KliK Foundation, TGO, Ministry of Natural Resources and Environment
Report context
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