BAAC promotes tree banks in 9 communities in Chachoengsao Province

BAAC promotes 9 community tree banks in Chachoengsao Province to buy and sell carbon credits under the BAAC Carbon Credit project. BAAC promotes 9 communities in Chachoengsao Province to buy and sell carbon credits in the forestry sector through the BAAC Carbon Credit project, and expands to more than 6,800 tree banks nationwide, aiming to create 510,000 tons of carbon credits by 2028 and generate income for the community worth more than 1,500 million baht. Mr. Kiatisak Phrawon, Assistant Manager of the Bank for Agriculture and Agricultural Cooperatives (BAAC), revealed that BAAC is accelerating the Tree Bank and Valuable Wood Community Project, with 6,814 communities participating in the project, with over 12.4 million registered trees and over 120,000 members. The project's trees are worth over 43 billion baht. In addition, the project promotes the conversion of planted trees into assets, adding value to land and using them as collateral for loans with BAAC, allowing community members to earn 116 million baht per year from products made from trees/forests, in order to further develop the operation to meet the goal of driving Thailand towards carbon neutrality by 2050 and achieving the goal of net zero greenhouse gas emissions by 2065. BAAC has established the BAAC Carbon Credit project to officially drive the purchase and sale of carbon credits in the forestry sector in Thailand under the Thailand Voluntary Emission Reduction Program (T-VER). The first purchase and sale was made at the Ban Tha Li and Ban Daeng Tree Bank communities in Khon Kaen Province, totaling 400 tons of carbon, with BAAC purchasing at a semi-CSR price of 3,000 baht per ton, totaling 1.2 million baht. Mr. Kiattisak added that during this period, there are scammers who claim to sell saplings and claim that they will buy carbon credits or can join the BAAC Carbon Credit project. People who are interested in planting trees should be careful because BAAC has no policy to sell any saplings whatsoever, including no policy to charge any fees o r expenses for joining the project with BAAC. If you have any questions, you can ask at any BAAC branch nationwide or call center 02 555 0555. BAAC is ready to support Tree Bank in Chachoengsao Province, a total of 9 communities that wish to participate in the T-VER project, consisting of: 1. Tree Bank, Ban Lum Makham 2. Tree Bank, Ban Ko Boraphet 3. Tree Bank, Ban Plaeng Nok Pao 4. Tree Bank, Ban Wang Yen 5. Tree Bank, Ban Nong Mai Kaen 6. Tree Bank, Ban Wang Kacha 7. Tree Bank, Ban Huai Hin, Sanam Chai Khet District 8. Tree Bank, Ban Wang Hin, Tha Takieb District and 9. Tree Bank, Ban Ang Toei, Tha Takieb District. There are 61 members in total, covering 81 plots, covering a total area of ??1,226 rai, 2 ngan, and 75 square wah. There are 32,155 trees participating in the project, equivalent to 305.47 tons of carbon credit per year. The project is currently in the process of submitting documents to register T-VER with the Greenhouse Gas Management Organization and aims to drive the mission of buying and se lling carbon credits in the forestry sector through the BAAC Carbon Credit project, preparing to expand to more than 6,800 tree bank communities nationwide, supporting the planting of 108,000 more trees per year and setting a goal to create a volume of buying and selling carbon credits of more than 510,000 tons of carbon by 2028. Mr. Winai Suwannathrai, leader of the valuable wood community, Ban Lum Makham Tree Bank, Chachoengsao Province, added that currently, the Tree Bank Project in Chachoengsao Province has 9 communities interested in joining the project to use it as collateral for loans with the Bank for Agriculture and Agricultural Cooperatives (BAAC), including generating additional income from products made from trees such as rubber trees, which are processed into products such as rubber soap, skin care serum from rubber trees, skin care water extracted from rubber leaves, and rubber oil to generate income alongside selling carbon credits. ?For Ban Lum Makham, it is a tree bank group that BAAC has p romoted and supported the planting of economic trees that have economic, social and environmental value, resulting in stable and sustainable income. Planting trees can help reduce greenhouse gas and carbon dioxide emissions, which helps reduce global warming and climate change. There is also security from large trees planted as savings for emergency use or when getting older. - 515 Thai News Agency Source: Thai News Agency