On September 25, 2024, Mr. Nattawat Klangsap, Director of the Forestry Research Center, represented the Faculty of Forestry at the launch event for the “Community Forest Carbon Credit Trading for Sustainable Forest Management” at the Ari Samphan Conference Room, Department of Climate Change and Environment. The event was presided over by the Permanent Secretary of the Ministry of Natural Resources and Environment.

The Ban Khong Ta Bang Community Forest in Phetchaburi Province became the first community forest to participate in carbon credit trading. Covering approximately 3,700 rai (around 1,460 acres), 1,397 rai (about 550 acres) of this area was designated for a T-VER project, with an estimated carbon storage capacity of 5,259 tCO2eq.

Under the Forestry Department’s guidelines, 90% (4,733 tCO2eq) of this is allocated to the community. PTT purchased these credits at 1,500 baht per ton, providing the community with approximately 7 million baht.