Credits and projects · Thailand

Thailand's TGO says ICAO has approved Premium T-VER to supply CORSIA credits for 2027-2029

TGO says ICAO approved Premium T-VER, the higher tier of Thailand's T-VER programme, on 5 November 2026 as a source of eligible units for CORSIA's second phase, 2027-2029; ICAO's own list had not been updated by 12 November.

TGO reports that Premium T-VER was one of 4 standards approved out of 25 assessed in 2026, and the first approved standard run by a government body.

Only credits from reductions made between 1 January 2021 and 31 December 2029 qualify; the tier has 9 registered projects and a first issuance of 60 tCO2e.

5 Nov 2026Credits and projectsThailandPublished 12 Nov 2026
Bangkok skyline along the Chao Phraya River
Bangkok skyline along the Chao Phraya River. Photo: Piyatad, CC BY-SA 3.0, source. Resized only; no other change.
Report

What happened

The Thailand Greenhouse Gas Management Organization (TGO) announced on 6 November 2026 that the International Civil Aviation Organization (ICAO) had, on 5 November, recognised Premium T-VER as a programme able to supply carbon credits to CORSIA, the Carbon Offsetting and Reduction Scheme for International Aviation. The approval applies to the scheme's second phase, the 2027-2029 compliance period, in which airlines flying covered international routes offset part of their emissions with eligible units.

TGO's notice gives three further facts. ICAO's 2026 assessment cycle looked at 25 standards and approved 4, including Premium T-VER. Premium T-VER is, by TGO's account, the first government-administered standard in the world to win this approval. And units used under phase 2 must come from reductions achieved from 1 January 2021 to 31 December 2029. The notice does not name the other approved programmes or list any conditions. ICAO's public page on eligible units still showed its April 2026 edition when checked on 12 November 2026.

Context

Background

T-VER is Thailand's domestic crediting programme, run by TGO; its registration statistics start in fiscal 2014. Its original Standard tier is large: 654 projects registered through fiscal 2026 and 28,247,683 tCO2e issued. Premium T-VER, the tier built to meet international requirements, is still small. TGO's registry lists 4 Premium registrations in fiscal 2024, 3 in fiscal 2025 and 2 in fiscal 2026, all in forestry and agriculture, with combined expected reductions of 25,291 tCO2e a year. The registry records one Premium issuance so far: 60 tCO2e in fiscal 2026, which ended on 30 September 2026.

Prices also split by project type. A TGO open-data file on over-the-counter T-VER trading, labelled fiscal 2026 and last updated on 24 April 2026, shows 4,904,654 tCO2e traded, worth THB 423,371,187, and forestry and agriculture credits fetched a weighted average of THB 411.21 per tCO2e. Domestic carbon pricing is growing alongside: fuel excise has carried a THB 200 per tCO2e carbon component since March 2025, and the cabinet approved a draft Climate Change Act in principle on 2 December 2025 that covers carbon credits.

Data

How it compares

Domestic crediting programmes: registered projects and volume

Source: Thailand Greenhouse Gas Management Organization (TGO); J-Credit Scheme Secretariat; Ministry of Ecology and Environment (MEE). Checked 2026-11-12. Definitions differ. J-Credit counts certified volume and includes transferred projects; the CCER figure is registered reductions. Thai figures cover single and bundled projects and exclude programmes of activities.

Table of the same figures
ProgrammeRegistered projectsCredits issued or registered
Thailand Premium T-VER (FY2024-FY2026)960 tCO2e issued
Thailand Standard T-VER (FY2014-FY2026)65428,247,683 tCO2e issued
Japan J-Credit (cumulative)1,49714.87 Mt-CO2 certified
China CCER (to end-August 2026)4124.2335 Mt registered
Ahead

What is next

  • 2027-01-01: CORSIA's second compliance period (2027-2029) begins, the first period for which Premium T-VER units are eligible
Record

Sources

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