The company revealed its intention to establish clear mechanisms for carbon credits, or carbon taxes, as well as regulations for tracking and verifying the stored carbon. PTTEP President/CEO Montri Rawanchaikul disclosed this during the Thailand Climate Action Conference 2023 held in Bangkok on October 6-7, emphasising the world was at a critical juncture in choosing between a global climate crisis and transitioning to a carbon-neutral state.
Currently, Carbon Capture & Storage (CCS) technologies have been deployed in over 300 CCS projects worldwide. For Thailand to achieve carbon neutrality by 2030 and net-zero greenhouse gas emissions by 2050, it must reduce carbon emissions by about 40 million tonnes per year. This is a challenging task, as planting one million rai (or about 395,369 acres) of forest would only reduce 1-2 million tonnes of carbon annually. Nevertheless, in the…
