# Thailand: a THB 200 per tonne carbon price sits inside fuel excise, while an emissions trading law is still a draft

_Last checked 2026-11-12 · https://asiacarbondesk.com/thailand-carbon-pricing/_

This page covers Thailand's only binding carbon price: since March 2025 the excise tax on fuels has carried a carbon component set at THB 200 per tCO2e. It also tracks the voluntary T-VER crediting programme and the draft Climate Change Act, which would create an emissions trading scheme but has not been passed.

## Key facts

- Carbon price in fuel excise: THB 200 (per tCO2e · in force since March 2025)
- Carbon component, diesel: THB 0.548 (per litre · gasoline THB 0.447)
- Fuel product lines priced: 15 (from gasoline to LPG and fuel oil)
- T-VER credits issued, FY2026: 4.36m (tCO2e · 28.2m cumulative since FY2014)
- T-VER projects registered, FY2026: 101 (a record; 75 in forestry and agriculture)
- Draft Climate Change Act: 205 (sections · cabinet approval 2 Dec 2025; not yet law)

## In brief

- Thailand prices carbon at THB 200 per tCO2e inside the excise tax on fuels, under an Excise Department notification issued on 28 March 2025; the carbon part is THB 0.447 per litre of gasoline and THB 0.548 per litre of diesel.
- The Excise Department says the first phase re-expresses existing fuel excise as a carbon tax without adding to the current tax burden.
- The voluntary T-VER programme issued 4,355,196 tCO2e of credits in fiscal 2026 and has issued 28,247,683 tCO2e since fiscal 2014; traded credits have averaged about THB 86 per tonne.
- An emissions trading scheme exists only in the draft Climate Change Act (205 sections), approved in principle by the cabinet on 2 December 2025 and under Council of State review since 5 May 2026.

## T-VER credits issued by fiscal year (tCO2e)

| Period | tCO2e |
|---|---|
| 2015 | 339,537 |
| 2016 | 249,612 |
| 2017 | 493,207 |
| 2018 | 887,523 |
| 2019 | 1,262,757 |
| 2020 | 2,578,321 |
| 2021 | 3,030,038 |
| 2022 | 4,673,841 |
| 2023 | 3,444,918 |
| 2024 | 3,535,918 |
| 2025 | 3,396,815 |
| 2026 | 4,355,196 |

## T-VER projects registered by fiscal year

| Period | projects |
|---|---|
| 2014 | 9 |
| 2015 | 11 |
| 2016 | 19 |
| 2017 | 41 |
| 2018 | 50 |
| 2019 | 50 |
| 2020 | 45 |
| 2021 | 32 |
| 2022 | 53 |
| 2023 | 54 |
| 2024 | 96 |
| 2025 | 93 |
| 2026 | 101 |

## Carbon component of diesel excise by biodiesel share (THB per litre)

| Period | THB/litre |
|---|---|
| B0 | 0.548 |
| ≤4% | 0.537 |
| 4-7% | 0.518 |
| 7-9% | 0.504 |
| 9-14% | 0.485 |
| 14-19% | 0.458 |
| 19-24% | 0.431 |

## Carbon component of excise by fuel (THB per litre; LPG per kg)

| Period | THB per litre (LPG per kg) |
|---|---|
| Gasoline | 0.447 |
| E10 | 0.403 |
| E20 | 0.358 |
| E85 | 0.069 |
| Kerosene | 0.498 |
| Jet fuel | 0.498 |
| Diesel | 0.548 |
| Fuel oil | 0.618 |
| LPG (kg) | 0.623 |

## Average traded T-VER price by project type (THB per tCO2e)

| Period | THB/tCO2e |
|---|---|
| Renewables | 39.95 |
| Ind. wastewater | 123.99 |
| Solid waste | 172.68 |
| Forestry & agri | 411.21 |

## From the first T-VER projects to the draft Climate Change Act

| Date | Event |
|---|---|
| 2014 | First T-VER projects registered with TGO (9 in fiscal 2014). |
| 2024-09-30 | Excise Department says the first phase will turn existing fuel excise into a carbon tax with no extra burden. |
| 2024-12-11 | Cabinet backs a plan to prepare for border carbon adjustments (CBAM), later cited as the basis for the carbon price. |
| 2025-03-28 | Excise Department issues the notification setting a THB 200 per tCO2e carbon price for fuels. |
| 2025-03-29 | The carbon price takes effect, from the day after issue. |
| 2025-04-22 | The notification is published in the Royal Gazette. |
| 2025-12-02 | Cabinet approves the draft Climate Change Act (205 sections) in principle, including an ETS. |
| 2026-02-20 | Excise Department signs an MOU with 18 companies on a digital oil-data link for a future carbon tax. |
| 2026-05-05 | The Council of State begins its first-round review of the draft Act. |
| 2026-09-30 | Fiscal 2026 closes with a record 101 T-VER registrations and 4.36 million tCO2e issued. |

## How the carbon price works inside fuel excise

| Step | What happens |
|---|---|
| Set the price | Excise Department notification fixes the carbon price at THB 200 per tCO2e. |
| Apply emission factors | Each fuel's emission factor per unit converts the price into a per-litre (or per-kg) amount. |
| Show it in the tariff | Ministerial Regulation No. 41 (2025) splits the excise rate to show the carbon component. |
| Collected with excise | Producers and importers pay it as part of fuel excise, e.g. THB 0.548 per litre of diesel. |
| Signal to consumers | The total excise burden was not raised; two retailers show the carbon emitted per fill. |

## Coverage and design

| Item | Rule |
|---|---|
| Gasoline / gasohol | THB 0.447 per litre (gasoline); E10 0.403; E20 0.358; E85 0.069 |
| Kerosene and jet fuel | THB 0.498 per litre |
| Diesel | THB 0.548 per litre, down to 0.431 for blends with 19–24% biodiesel |
| LPG | THB 0.623 per kg |
| Fuel oil | THB 0.618 per litre |
| National targets cited | NDC 30–40% below BAU by 2030; carbon neutrality 2050; net zero 2065 |
| Draft Climate Change Act | 205 sections; ETS, CBAM, carbon tax and carbon credits |
| Draft ETS design (2024 consultation draft) | Cap in line with national targets; free allocation and/or auction; fine up to 3× the average auction price for excess emissions |

## T-VER at a glance

| Item | Status |
|---|---|
| Programme | Thailand Voluntary Emission Reduction Program (T-VER), run by TGO |
| Projects registered | 654 Standard T-VER projects, fiscal 2014–2026 |
| Credits issued | 28,247,683 tCO2e in 456 issuances, fiscal 2014–2026 |
| Expected reductions, registered projects | 17,174,981 tCO2e a year |
| Premium T-VER | 9 projects registered (fiscal 2024–2026); first 60 tCO2e issued in fiscal 2026 |
| Traded since fiscal 2016 | 4,904,654 tCO2e worth THB 423,371,187 (to April 2026) |
| Average traded price | About THB 86 per tCO2e; forestry and agriculture THB 411.21, renewables THB 39.95 |
| Exchange trading | 13,665 tCO2e on the FTIX exchange vs 4,083,549 tCO2e bilateral |
| Use in a future ETS (2024 draft) | Banking or offsetting up to 15% of allowances to be surrendered |

## All figures

| Item | Value | Source | Checked |
|---|---|---|---|
| Carbon price used in fuel excise | THB 200 per tCO2e | [Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance](https://ratchakitcha.soc.go.th/documents/66732.pdf) | 2026-11-12 |
| Excise notification issued (signed by Director-General) | 28 March 2025 | [Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance](https://ratchakitcha.soc.go.th/documents/66732.pdf) | 2026-11-12 |
| Notification published in the Royal Gazette | 22 April 2025 (Vol. 142, Special Part 171 D, page 7) | [Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance](https://ratchakitcha.soc.go.th/documents/66732.pdf) | 2026-11-12 |
| Entry into force rule (clause 3) | From the day after the date of issue, i.e. 29 March 2025 (issued 28 March 2025, f02) | [Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance](https://ratchakitcha.soc.go.th/documents/66732.pdf) | 2026-11-12 |
| Legal basis: tariff schedule amended by Ministerial Regulation No. 41 | Ministerial Regulation prescribing excise tariff rates (No. 41) B.E. 2568 (2025) | [Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance](https://ratchakitcha.soc.go.th/documents/66732.pdf) | 2026-11-12 |
| How the per-unit carbon component is set | Carbon price (THB 200/tCO2e) multiplied in proportion to each product's emission factor per unit | [Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance](https://ratchakitcha.soc.go.th/documents/66732.pdf) | 2026-11-12 |
| Carbon component per unit: Unleaded gasoline | THB 0.447 per litre | [Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance](https://ratchakitcha.soc.go.th/documents/66732.pdf) | 2026-11-12 |
| Carbon component per unit: Gasohol E10 | THB 0.403 per litre | [Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance](https://ratchakitcha.soc.go.th/documents/66732.pdf) | 2026-11-12 |
| Carbon component per unit: Gasohol E20 | THB 0.358 per litre | [Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance](https://ratchakitcha.soc.go.th/documents/66732.pdf) | 2026-11-12 |
| Carbon component per unit: Gasohol E85 | THB 0.069 per litre | [Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance](https://ratchakitcha.soc.go.th/documents/66732.pdf) | 2026-11-12 |
| Carbon component per unit: Kerosene | THB 0.498 per litre | [Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance](https://ratchakitcha.soc.go.th/documents/66732.pdf) | 2026-11-12 |
| Carbon component per unit: Jet fuel (other than heading (1)) | THB 0.498 per litre | [Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance](https://ratchakitcha.soc.go.th/documents/66732.pdf) | 2026-11-12 |
| Carbon component per unit: Diesel, sulphur ≤0.001% (no biodiesel) | THB 0.548 per litre | [Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance](https://ratchakitcha.soc.go.th/documents/66732.pdf) | 2026-11-12 |
| Carbon component per unit: Diesel with biodiesel ≤4% | THB 0.537 per litre | [Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance](https://ratchakitcha.soc.go.th/documents/66732.pdf) | 2026-11-12 |
| Carbon component per unit: Diesel with biodiesel >4% to 7% | THB 0.518 per litre | [Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance](https://ratchakitcha.soc.go.th/documents/66732.pdf) | 2026-11-12 |
| Carbon component per unit: Diesel with biodiesel >7% to 9% | THB 0.504 per litre | [Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance](https://ratchakitcha.soc.go.th/documents/66732.pdf) | 2026-11-12 |
| Carbon component per unit: Diesel with biodiesel >9% to 14% | THB 0.485 per litre | [Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance](https://ratchakitcha.soc.go.th/documents/66732.pdf) | 2026-11-12 |
| Carbon component per unit: Diesel with biodiesel >14% to 19% | THB 0.458 per litre | [Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance](https://ratchakitcha.soc.go.th/documents/66732.pdf) | 2026-11-12 |
| Carbon component per unit: Diesel with biodiesel >19% to 24% | THB 0.431 per litre | [Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance](https://ratchakitcha.soc.go.th/documents/66732.pdf) | 2026-11-12 |
| Carbon component per unit: LPG | THB 0.623 per kg | [Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance](https://ratchakitcha.soc.go.th/documents/66732.pdf) | 2026-11-12 |
| Carbon component per unit: Fuel oil | THB 0.618 per litre | [Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance](https://ratchakitcha.soc.go.th/documents/66732.pdf) | 2026-11-12 |
| Implied emission factor, unleaded gasoline | about 2.24 kgCO2e per litre (= 0.447 / 200 × 1,000; facts f07, f01) | [Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance](https://ratchakitcha.soc.go.th/documents/66732.pdf) | 2026-11-12 |
| Implied emission factor, diesel | about 2.74 kgCO2e per litre (= 0.548 / 200 × 1,000; facts f13, f01) | [Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance](https://ratchakitcha.soc.go.th/documents/66732.pdf) | 2026-11-12 |
| NDC target cited in the notification | 30-40% below business-as-usual by 2030 | [Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance](https://ratchakitcha.soc.go.th/documents/66732.pdf) | 2026-11-12 |
| Long-term targets cited in the notification | Carbon neutrality by 2050; net-zero GHG by 2065 | [Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance](https://ratchakitcha.soc.go.th/documents/66732.pdf) | 2026-11-12 |
| Cabinet resolution on CBAM preparedness plan cited as background | 11 December 2024 | [Royal Gazette (Secretariat of the Cabinet) / Excise Department, Ministry of Finance](https://ratchakitcha.soc.go.th/documents/66732.pdf) | 2026-11-12 |
| Excise Department FY2025 report: carbon price and legal form | Ministerial regulation plus Excise notification setting THB 200 per tonne of carbon | [Excise Department, Ministry of Finance](https://webdev.excise.go.th/act2560/files/secretary/Press6-2568.pdf) | 2026-11-12 |
| Retailers showing per-fill carbon emissions with the Excise Department | 2 companies (PTT OR and Bangchak) | [Excise Department, Ministry of Finance](https://webdev.excise.go.th/act2560/files/secretary/Press6-2568.pdf) | 2026-11-12 |
| First phase design: convert existing fuel excise into carbon-tax form | Existing oil excise re-expressed as carbon tax, no extra burden on the public (announced 30 Sep 2024) | [Excise Department, Ministry of Finance](https://webdev.excise.go.th/act2560/files/secretary/press35-2567.pdf) | 2026-11-12 |
| Effect on current excise burden | Adding the mechanism does not change the current excise tax burden (stated 2024) | [Excise Department, Ministry of Finance](https://webdev.excise.go.th/act2560/files/secretary/press39-2567.pdf) | 2026-11-12 |
| Social cost of carbon range in Excise Department study note | THB 192-3,133 per tonne of carbon; average THB 483 | [Excise Department, Ministry of Finance](https://www.excise.go.th/cs/groups/public/documents/document/mjaw/mdyx/~edisp/webportal16200061848.pdf) | 2026-11-12 |
| MOU on digital oil-volume data link to support a carbon tax | Signed 20 Feb 2026 with 18 companies (13 oil companies, 4 transporters, 1 aviation refueller) | [Excise Department, Ministry of Finance](https://webdev.excise.go.th/act2560/files/secretary/Press4-2569.pdf) | 2026-11-12 |
| Cabinet approves draft Climate Change Act in principle | 2 December 2025 | [Department of Climate Change and Environment (DCCE), Ministry of Natural Resources and Environment](https://www.dcce.go.th/14324/) | 2026-11-12 |
| Size of the cabinet-approved draft Act | 14 chapters, 205 sections | [Department of Climate Change and Environment (DCCE), Ministry of Natural Resources and Environment](https://www.dcce.go.th/14324/) | 2026-11-12 |
| Carbon pricing instruments in the draft Act | ETS (allowance allocation), CBAM, carbon tax and carbon credits | [Department of Climate Change and Environment (DCCE), Ministry of Natural Resources and Environment](https://www.dcce.go.th/14324/) | 2026-11-12 |
| Council of State first-round review of the draft Act begins | 5 May 2026 (Council of State Committee 7) | [Department of Climate Change and Environment (DCCE)](https://www.dcce.go.th/22044) | 2026-11-12 |
| ETS chapter in the 2024 consultation draft | Chapter 8, sections 72-99: cap set in line with national targets; allowances allocated free and/or by auction | [Department of Climate Change and Environment (DCCE)](https://www.dcce.go.th/wp-content/uploads/2024/06/%E0%B8%AA%E0%B8%A3%E0%B8%B8%E0%B8%9B%E0%B8%AA%E0%B8%B2%E0%B8%A3%E0%B8%B0%E0%B8%AA%E0%B8%B3%E0%B8%84%E0%B8%B1%E0%B8%8D%E0%B8%82%E0%B8%AD%E0%B8%87%E0%B8%A3%E0%B9%88%E0%B8%B2%E0%B8%87%E0%B8%9E%E0%B8%A3%E0%B8%B0%E0%B8%A3%E0%B8%B2%E0%B8%8A%E0%B8%9A%E0%B8%B1%E0%B8%8D%E0%B8%8D%E0%B8%B1%E0%B8%95%E0%B8%B4%E0%B8%81%E0%B8%B2%E0%B8%A3%E0%B9%80%E0%B8%9B%E0%B8%A5%E0%B8%B5%E0%B9%88%E0%B8%A2%E0%B8%99%E0%B9%81%E0%B8%9B%E0%B8%A5%E0%B8%87%E0%B8%AA%E0%B8%A0%E0%B8%B2%E0%B8%9E%E0%B8%A0%E0%B8%B9%E0%B8%A1%E0%B8%B4%E0%B8%AD%E0%B8%B2%E0%B8%81%E0%B8%B2%E0%B8%A8-%E0%B8%9E.%E0%B8%A8.-1-1.pdf) | 2026-11-12 |
| Banking/offsetting limit in the 2024 consultation draft ETS | Up to 15% of allowances to be surrendered | [Department of Climate Change and Environment (DCCE)](https://www.dcce.go.th/wp-content/uploads/2024/06/%E0%B8%AA%E0%B8%A3%E0%B8%B8%E0%B8%9B%E0%B8%AA%E0%B8%B2%E0%B8%A3%E0%B8%B0%E0%B8%AA%E0%B8%B3%E0%B8%84%E0%B8%B1%E0%B8%8D%E0%B8%82%E0%B8%AD%E0%B8%87%E0%B8%A3%E0%B9%88%E0%B8%B2%E0%B8%87%E0%B8%9E%E0%B8%A3%E0%B8%B0%E0%B8%A3%E0%B8%B2%E0%B8%8A%E0%B8%9A%E0%B8%B1%E0%B8%8D%E0%B8%8D%E0%B8%B1%E0%B8%95%E0%B8%B4%E0%B8%81%E0%B8%B2%E0%B8%A3%E0%B9%80%E0%B8%9B%E0%B8%A5%E0%B8%B5%E0%B9%88%E0%B8%A2%E0%B8%99%E0%B9%81%E0%B8%9B%E0%B8%A5%E0%B8%87%E0%B8%AA%E0%B8%A0%E0%B8%B2%E0%B8%9E%E0%B8%A0%E0%B8%B9%E0%B8%A1%E0%B8%B4%E0%B8%AD%E0%B8%B2%E0%B8%81%E0%B8%B2%E0%B8%A8-%E0%B8%9E.%E0%B8%A8.-1-1.pdf) | 2026-11-12 |
| Penalty for excess emissions in the 2024 consultation draft | Administrative fine up to 3 times the average auction price of allowances | [Department of Climate Change and Environment (DCCE)](https://www.dcce.go.th/wp-content/uploads/2024/06/%E0%B8%AA%E0%B8%A3%E0%B8%B8%E0%B8%9B%E0%B8%AA%E0%B8%B2%E0%B8%A3%E0%B8%B0%E0%B8%AA%E0%B8%B3%E0%B8%84%E0%B8%B1%E0%B8%8D%E0%B8%82%E0%B8%AD%E0%B8%87%E0%B8%A3%E0%B9%88%E0%B8%B2%E0%B8%87%E0%B8%9E%E0%B8%A3%E0%B8%B0%E0%B8%A3%E0%B8%B2%E0%B8%8A%E0%B8%9A%E0%B8%B1%E0%B8%8D%E0%B8%8D%E0%B8%B1%E0%B8%95%E0%B8%B4%E0%B8%81%E0%B8%B2%E0%B8%A3%E0%B9%80%E0%B8%9B%E0%B8%A5%E0%B8%B5%E0%B9%88%E0%B8%A2%E0%B8%99%E0%B9%81%E0%B8%9B%E0%B8%A5%E0%B8%87%E0%B8%AA%E0%B8%A0%E0%B8%B2%E0%B8%9E%E0%B8%A0%E0%B8%B9%E0%B8%A1%E0%B8%B4%E0%B8%AD%E0%B8%B2%E0%B8%81%E0%B8%B2%E0%B8%A8-%E0%B8%9E.%E0%B8%A8.-1-1.pdf) | 2026-11-12 |
| Carbon tax chapter in the 2024 consultation draft | Chapter 10, sections 118-147; rates set by ministerial regulation up to a ceiling in the Act's schedule | [Department of Climate Change and Environment (DCCE)](https://www.dcce.go.th/wp-content/uploads/2024/06/%E0%B8%AA%E0%B8%A3%E0%B8%B8%E0%B8%9B%E0%B8%AA%E0%B8%B2%E0%B8%A3%E0%B8%B0%E0%B8%AA%E0%B8%B3%E0%B8%84%E0%B8%B1%E0%B8%8D%E0%B8%82%E0%B8%AD%E0%B8%87%E0%B8%A3%E0%B9%88%E0%B8%B2%E0%B8%87%E0%B8%9E%E0%B8%A3%E0%B8%B0%E0%B8%A3%E0%B8%B2%E0%B8%8A%E0%B8%9A%E0%B8%B1%E0%B8%8D%E0%B8%8D%E0%B8%B1%E0%B8%95%E0%B8%B4%E0%B8%81%E0%B8%B2%E0%B8%A3%E0%B9%80%E0%B8%9B%E0%B8%A5%E0%B8%B5%E0%B9%88%E0%B8%A2%E0%B8%99%E0%B9%81%E0%B8%9B%E0%B8%A5%E0%B8%87%E0%B8%AA%E0%B8%A0%E0%B8%B2%E0%B8%9E%E0%B8%A0%E0%B8%B9%E0%B8%A1%E0%B8%B4%E0%B8%AD%E0%B8%B2%E0%B8%81%E0%B8%B2%E0%B8%A8-%E0%B8%9E.%E0%B8%A8.-1-1.pdf) | 2026-11-12 |
| Size of the 2024 consultation draft | 202 sections in 14 chapters | [Department of Climate Change and Environment (DCCE)](https://www.dcce.go.th/wp-content/uploads/2024/06/%E0%B8%AA%E0%B8%A3%E0%B8%B8%E0%B8%9B%E0%B8%AA%E0%B8%B2%E0%B8%A3%E0%B8%B0%E0%B8%AA%E0%B8%B3%E0%B8%84%E0%B8%B1%E0%B8%8D%E0%B8%82%E0%B8%AD%E0%B8%87%E0%B8%A3%E0%B9%88%E0%B8%B2%E0%B8%87%E0%B8%9E%E0%B8%A3%E0%B8%B0%E0%B8%A3%E0%B8%B2%E0%B8%8A%E0%B8%9A%E0%B8%B1%E0%B8%8D%E0%B8%8D%E0%B8%B1%E0%B8%95%E0%B8%B4%E0%B8%81%E0%B8%B2%E0%B8%A3%E0%B9%80%E0%B8%9B%E0%B8%A5%E0%B8%B5%E0%B9%88%E0%B8%A2%E0%B8%99%E0%B9%81%E0%B8%9B%E0%B8%A5%E0%B8%87%E0%B8%AA%E0%B8%A0%E0%B8%B2%E0%B8%9E%E0%B8%A0%E0%B8%B9%E0%B8%A1%E0%B8%B4%E0%B8%AD%E0%B8%B2%E0%B8%81%E0%B8%B2%E0%B8%A8-%E0%B8%9E.%E0%B8%A8.-1-1.pdf) | 2026-11-12 |
| T-VER programme | Thailand Voluntary Emission Reduction Program run by TGO; credits from registered projects may be traded in the voluntary market | [Thailand Greenhouse Gas Management Organization (TGO)](https://tver.tgo.or.th/en/about-us/en-overview) | 2026-11-12 |
| Standard T-VER projects registered per fiscal year, FY2014-FY2026 (single and bundled) | 9, 11, 19, 41, 50, 50, 45, 32, 53, 54, 96, 93, 101 | [Thailand Greenhouse Gas Management Organization (TGO)](https://tver.tgo.or.th/database/summary/registration/1/1) | 2026-11-12 |
| Standard T-VER projects registered, FY2014-FY2026 total (single and bundled) | 654 projects (sum of f43) | [Thailand Greenhouse Gas Management Organization (TGO)](https://tver.tgo.or.th/database/summary/registration/1/1) | 2026-11-12 |
| Standard T-VER projects registered in FY2026 (Oct 2025-Sep 2026) | 101 projects, the highest of any fiscal year | [Thailand Greenhouse Gas Management Organization (TGO)](https://tver.tgo.or.th/database/summary/registration/1/1) | 2026-11-12 |
| Forestry and agriculture share of FY2026 registrations | 75 of 101 projects | [Thailand Greenhouse Gas Management Organization (TGO)](https://tver.tgo.or.th/database/summary/registration/1/1) | 2026-11-12 |
| Expected annual reductions of projects registered in FY2026 | 1,660,056 tCO2e | [Thailand Greenhouse Gas Management Organization (TGO)](https://tver.tgo.or.th/database/summary/registration/1/1) | 2026-11-12 |
| Expected reductions of projects registered per fiscal year, FY2014-FY2026 | 114,237 … 1,660,056 tCO2e (13 years) | [Thailand Greenhouse Gas Management Organization (TGO)](https://tver.tgo.or.th/database/summary/registration/1/1) | 2026-11-12 |
| Standard T-VER credits issued per fiscal year, FY2015-FY2026 | 339,537 … 4,355,196 tCO2e (12 years) | [Thailand Greenhouse Gas Management Organization (TGO)](https://tver.tgo.or.th/database/summary/credit/1/1) | 2026-11-12 |
| Standard T-VER credits issued, cumulative FY2014-FY2026 | 28,247,683 tCO2e | [Thailand Greenhouse Gas Management Organization (TGO)](https://tver.tgo.or.th/database/summary/credit/1/1) | 2026-11-12 |
| Issuance events (project-issuances) counted FY2014-FY2026 | 456 | [Thailand Greenhouse Gas Management Organization (TGO)](https://tver.tgo.or.th/database/summary/credit/1/1) | 2026-11-12 |
| Standard T-VER credits issued in FY2026 | 4,355,196 tCO2e from 57 project issuances | [Thailand Greenhouse Gas Management Organization (TGO)](https://tver.tgo.or.th/database/summary/credit/1/1) | 2026-11-12 |
| Standard T-VER credits issued in FY2022 (previous peak) | 4,673,841 tCO2e | [Thailand Greenhouse Gas Management Organization (TGO)](https://tver.tgo.or.th/database/summary/credit/1/1) | 2026-11-12 |
| Premium T-VER projects registered, FY2024-FY2026 | 4, 3 and 2 projects (9 in total) | [Thailand Greenhouse Gas Management Organization (TGO)](https://tver.tgo.or.th/database/summary/registration/2/1) | 2026-11-12 |
| Premium T-VER credits issued in FY2026 (first issuance) | 60 tCO2e | [Thailand Greenhouse Gas Management Organization (TGO)](https://tver.tgo.or.th/database/summary/credit/2/1) | 2026-11-12 |
| Expected reductions of all registered Standard T-VER projects | 17,174,981 tCO2e per year | [Thailand Greenhouse Gas Management Organization (TGO)](https://tver.tgo.or.th/) | 2026-11-12 |
| Expected reductions of registered Premium T-VER projects | 26,051 tCO2e per year | [Thailand Greenhouse Gas Management Organization (TGO)](https://tver.tgo.or.th/) | 2026-11-12 |
| First T-VER project registrations in the TGO statistics | Fiscal year 2014 (9 projects) | [Thailand Greenhouse Gas Management Organization (TGO)](https://tver.tgo.or.th/database/summary/registration/1/1) | 2026-11-12 |
| T-VER credits traded, accumulated since FY2016 (data to April 2026) | 4,904,654 tCO2e across 8 project types | [TGO Open Data](https://opendata.tgo.or.th/dataset/061c3709-1cdb-4af8-85f6-4c7cc6ce2b51/resource/1d9ad8ca-70c9-4f6e-bbd5-60eacb09d70e/download/cc_02_02.csv) | 2026-11-12 |
| Value of T-VER credits traded, accumulated since FY2016 (data to April 2026) | THB 423,371,187 | [TGO Open Data](https://opendata.tgo.or.th/dataset/061c3709-1cdb-4af8-85f6-4c7cc6ce2b51/resource/1d9ad8ca-70c9-4f6e-bbd5-60eacb09d70e/download/cc_02_02.csv) | 2026-11-12 |
| Average traded T-VER price, all types (accumulated since FY2016) | about THB 86.3 per tCO2e (= f60 / f59) | [TGO Open Data](https://opendata.tgo.or.th/dataset/061c3709-1cdb-4af8-85f6-4c7cc6ce2b51/resource/1d9ad8ca-70c9-4f6e-bbd5-60eacb09d70e/download/cc_02_02.csv) | 2026-11-12 |
| Weighted average traded price, forestry and agriculture credits | THB 411.21 per tCO2e (range THB 55-3,000) | [TGO Open Data](https://opendata.tgo.or.th/dataset/061c3709-1cdb-4af8-85f6-4c7cc6ce2b51/resource/1d9ad8ca-70c9-4f6e-bbd5-60eacb09d70e/download/cc_02_02.csv) | 2026-11-12 |
| Weighted average traded price, renewable energy credits | THB 39.95 per tCO2e (range THB 18-500) | [TGO Open Data](https://opendata.tgo.or.th/dataset/061c3709-1cdb-4af8-85f6-4c7cc6ce2b51/resource/1d9ad8ca-70c9-4f6e-bbd5-60eacb09d70e/download/cc_02_02.csv) | 2026-11-12 |
| Renewable energy share of traded T-VER volume | 3,414,902 of 4,904,654 tCO2e (about 70%) | [TGO Open Data](https://opendata.tgo.or.th/dataset/061c3709-1cdb-4af8-85f6-4c7cc6ce2b51/resource/1d9ad8ca-70c9-4f6e-bbd5-60eacb09d70e/download/cc_02_02.csv) | 2026-11-12 |
| Weighted average traded price, industrial wastewater credits | THB 123.99 per tCO2e | [TGO Open Data](https://opendata.tgo.or.th/dataset/061c3709-1cdb-4af8-85f6-4c7cc6ce2b51/resource/1d9ad8ca-70c9-4f6e-bbd5-60eacb09d70e/download/cc_02_02.csv) | 2026-11-12 |
| Weighted average traded price, solid waste credits | THB 172.68 per tCO2e | [TGO Open Data](https://opendata.tgo.or.th/dataset/061c3709-1cdb-4af8-85f6-4c7cc6ce2b51/resource/1d9ad8ca-70c9-4f6e-bbd5-60eacb09d70e/download/cc_02_02.csv) | 2026-11-12 |
| Weighted average traded price, sustainable afforestation methodology | THB 1,885.47 per tCO2e (4,957 t traded) | [TGO Open Data](https://opendata.tgo.or.th/dataset/a21f432c-cbac-4473-a3b1-46cc8b5183fd/resource/7430b1cb-b7a8-4e2d-8aaf-60ea9cf50e7c/download/cc_02_01.csv) | 2026-11-12 |
| Weighted average traded price, project-level REDD+ methodology | THB 1,112.04 per tCO2e (47,993 t traded) | [TGO Open Data](https://opendata.tgo.or.th/dataset/a21f432c-cbac-4473-a3b1-46cc8b5183fd/resource/7430b1cb-b7a8-4e2d-8aaf-60ea9cf50e7c/download/cc_02_01.csv) | 2026-11-12 |
| T-VER volume traded on the FTIX exchange (period not stated on the page) | 13,665 tCO2e (sum of 5 project types), against 4,083,549 tCO2e bilateral (OTC) on the same page | [Thailand Greenhouse Gas Management Organization (TGO)](https://carbonmarket.tgo.or.th/modules/chart/classify.php) | 2026-11-12 |

## FAQ

**Does Thailand have a carbon tax?**

Yes, in a limited form. Since March 2025 the excise tax on fuels includes a carbon component priced at THB 200 per tCO2e. There is no carbon tax on facility emissions yet; that is in the draft Climate Change Act.

**How much is the carbon component per litre of fuel?**

THB 0.548 per litre of diesel, THB 0.447 for gasoline, THB 0.358 for gasohol E20, THB 0.498 for jet fuel and THB 0.623 per kg of LPG.

**Did the carbon price raise fuel prices?**

The Excise Department said the first phase re-expresses existing fuel excise as a carbon tax and does not add to the current excise burden.

**Does Thailand have an emissions trading scheme?**

Not yet. An ETS is part of the draft Climate Change Act (205 sections), approved in principle by the cabinet on 2 December 2025 and under Council of State review since 5 May 2026. No start date is set.

**How many T-VER credits are issued each year?**

4,355,196 tCO2e in fiscal 2026 (October 2025 to September 2026), close to the fiscal 2022 peak of 4,673,841 tCO2e. 28,247,683 tCO2e have been issued since fiscal 2014.

**What do T-VER credits sell for?**

About THB 86 per tCO2e on average across trades since fiscal 2016. Forestry and agriculture credits averaged THB 411.21 and renewable energy credits THB 39.95.

**How was the THB 200 level chosen?**

Official documents do not explain the level. An Excise Department study note puts the social cost of carbon at THB 192–3,133 per tonne, averaging THB 483, so THB 200 sits near the bottom of that range.

## Not listed yet

- Full text and date of Ministerial Regulation No. 41 (2025): the Royal Gazette search is behind a bot check.
- Revenue raised by the carbon component: not published separately from oil excise.
- The temporary B20/E20 excise cut from 28 October 2026: no official document could be opened.
- Year-by-year T-VER trading volumes and prices: TGO publishes only cumulative totals.
- ETS start date, sectors and thresholds: not set while the Act is in draft.
- Ministerial Regulation No. 41 B.E. 2568 (full text and date) — Cited in the Excise notification; the Royal Gazette search page is behind a bot challenge (not bypassed) and the Excise ministerial-regulation list online stops at 2022.
- Revenue raised by the carbon component — No official figure found; the Excise Department reports oil excise revenue only in total.
- Temporary excise cut on B20 and E20 from 28 Oct 2026 — Reported in the press as keeping the carbon component; no Excise Department or Royal Gazette document could be opened (thaigov.go.th and ratchakitcha search blocked by bot checks).
- Annual T-VER traded volumes and prices by year — TGO open data gives only cumulative totals since FY2016 (last updated April 2026); the TGO trading chart page gives no period.
- ETS start date, covered sectors and thresholds — The draft Climate Change Act is still under Council of State review; no official date or coverage has been set.
- Cabinet-approved (205-section) draft text — Only the 2024 consultation draft summary (202 sections) is published; ETS details are taken from that draft and may change.