Carbon Market Infrastructure

DITTO (Thailand) Public Company Limited, or DITTO, has taken carbon credits from roughly 10% of the mangrove reforestation project area it manages, spanning more than 170,000 rai, through a tokenization process to make carbon credits easier for investors and businesses to access. At present, trading of carbon credits in Thailand remains limited because buyers and sellers must match with each other directly and there is still no public market. Thakorn Rattanakamonporn, Chief Executive Officer of DITTO, said at the seminar "Opening the World of Alternative Assets: Filling Out Investment Opportunities" that the Blue Green Token has been verified by the relevant agencies in both carbon credits and digital assets, and that the ICMA standard used for green bonds has been applied. Holders who hold the token for the full seven-year term will receive a principal guarantee, a return of 3% per year, and the chance of additional gains if the value of carbon credits rises in the future. Thakorn said mangroves have the potential to absorb about 9.4 tonnes of carbon per rai per year, and that if Thailand moves from a voluntary carbon market to a mandatory one, it would help raise the standards of Thai products to align with global rules. Wanphat Phasayawan, Assistant Manager of the Investment Banking and Tokenization Division at Token X, said at the same event that Token X, which is part of SCBX, helps those seeking to raise funds to develop projects by using blockchain technology in the process of issuing and distributing tokens. She said the Blue Green Token took about three to four years to develop before the product could be issued.

Alphabet backed its biggest carbon-removal project yet through Terradot, Reuters reported Wednesday, even as its shares slipped approximately 0.9% to $341.72. Terradot plans to deploy enhanced-weathering material across more than 200,000 hectares of rice fields in Brazil, targeting one million metric tons of methane-abatement credits by 2030 and another one million tons of carbon-removal credits by 2040, a removal target roughly ten times the scale of earlier rock-weathering projects. Google already owns an equity stake in Terradot, giving it exposure not just as a buyer of credits but as a financial backer of the technology itself. A 2024 Terradot transaction implied a removal cost of about $300 per ton, while developers see roughly $100 as a level that could unlock much broader adoption, though pricing for Google's latest agreement has not been disclosed. Alphabet's $341.72 share price stands 34.54% above its GF Value estimate of $253.99, putting more pressure on Google's massive AI and infrastructure spending to translate into durable growth.

Energy Absolute, or EA, disclosed that the Bangkok E-Bus Programme has delivered 57,327 ITMOs in carbon credits under the international cooperation mechanism to the KliK Foundation in Switzerland, bringing the project's cumulative deliveries to 108,960 ITMOs. These ITMOs represent greenhouse gas reductions that have been measured, verified and certified to standard, and have been approved for international transfer under Article 6.2 of the Paris Agreement to support Switzerland's NDC targets. The project puts more than 2,000 electric buses into service in Bangkok and its vicinity, replacing diesel and natural gas buses. Chatchapol Sripratum, Chief Executive Officer of EA, said this achievement shows that the transition to clean energy can deliver real environmental, social and economic results, and that the company is ready to build on its know-how, technology and partnerships to expand its Green Energy Ecosystem into other sectors.

Mitti Labs has announced a five-year carbon credit agreement with Google to scale climate-smart agriculture across 100,000 hectares of smallholder rice farms in India, in what the company calls the largest rice methane offtake to date. Under the deal, Mitti Labs will deliver one million high-integrity credits to Google by 2030. By transitioning over 70,000 farmers to water and methane-savings irrigation practices, the partnership aims to eliminate 3M tons of near-term warming impact, measured as GWP20 and equivalent to 1M tons of GWP100 impact, while conserving billions of gallons of water across critical regional basins. The partnership is also projected to deliver billions of liters of water savings nationwide, an amount equal to Bengaluru's annual supply for three years. Google Chief Sustainability Officer Kate Brandt said Mitti Labs' approach delivers critical near-term atmospheric impact by cutting methane emissions while empowering smallholder farmers. Mitti Labs co-founder Xavier Laguarta called the partnership a powerful accelerator of the company's mission to reduce emissions, save water, and strengthen the livelihoods of the 150 million smallholder farmers who grow rice. Mitti Labs, which launched in 2023 and has grown to 150 employees, has raised $12.5 million from investors including Lightspeed India, Aramco Ventures, Voyager Ventures, Godrej Industries Group, Cisco Foundation, Francis Family Fund, and Volta Circle, and has received an A rating for its methane-based credits from ratings agency Sylvera.

The Thai government, together with major energy and industrial players such as PTT, SCG, and Thai Airways, is accelerating its carbon neutrality (Net Zero) target to 2050, earlier than the original 2065. It is also moving forward with the draft Climate Change Act, which will impose a carbon tax on upstream products and establish an emissions trading system (ETS), expected to take effect in the third quarter of 2027. Thailand needs at least 2 trillion baht in funding to support climate investments, while the World Bank warns that delays could cause Thailand's GDP to contract by 7-14% by 2050. Meanwhile, PTT plans to invest at least 5 billion US dollars in the iSPARK and CCS Hub projects in the Map Ta Phut area, aiming to reduce carbon emissions by at least 9 million tonnes per year by 2035 and create over 10,000 new jobs.

A major United Nations report states that the global average temperature is likely to rise more than 1.5 degrees Celsius within the next few years, and could reach 1.8 degrees Celsius in the best-case scenario, or 2.6 degrees Celsius if current policies remain. Currently, temperatures have already increased by 1.4 degrees Celsius. This report marks the end of the previous era and indicates that the world may not be able to avoid overshooting the threshold, so the goal must shift to bringing temperatures back below 1.5 degrees Celsius by the end of this century. Debra Roberts, one of the co-authors from the University of KwaZulu-Natal, stated that the level of commitment from countries will determine whether the overshoot lasts for decades or millennia. Reducing temperatures requires accelerating the reduction of greenhouse gases and removing carbon from the atmosphere, both naturally and through technology, including making net emissions negative. At the same time, communities must be helped to adapt to irreversible impacts, such as rising sea levels.

UK-based carbon insurance company Kita has taken an undisclosed strategic investment from Japan's Tokio Marine Group and agreed to broaden its commercial collaboration. The investment was made through Tokio Marine & Nichido Fire Insurance Co, Kita said on 31 July. The deal deepens an existing relationship with Tokio Marine Kiln, with the companies already having worked on political risk insurance products aimed at carbon credit transactions. Kita said the expanded partnership will now extend to additional Tokio Marine Group companies to support the growth and integrity of global carbon markets. In Japan, Kita and TMNF are developing insurance designed to protect carbon credit buyers against transaction risks, including the possibility that prepaid credits are not delivered as contracted, and will also explore offering carbon project risk assessment services to TMNF customers using satellite-based analytics.

The Stock Exchange of Thailand has signed a memorandum of understanding with the Thailand Greenhouse Gas Management Organization to enhance capacity and increase the number of carbon verifiers in the country's carbon market ecosystem. Mr. Assadet Kongsiri, Director and Manager of the SET, stated that the SET Carbon Platform, which received certification from TGO in 2025, will be used to calculate and disclose greenhouse gas emissions data of listed companies. The data must be verified by experts certified by TGO. The SET will leverage its experience from the SET Exam platform to support examination arrangements and promote learning to elevate the credibility of greenhouse gas data. Mr. Nakorn Trangkaviraput, Director of TGO, said this collaboration will help unlock personnel constraints through the Climate Action Academy and effectively support the growth of greenhouse gas reduction mechanisms. The memorandum of understanding spans three years, aiming to build quality personnel and drive Thailand towards the Net Zero goal sustainably.

The third public hearing draft of the Climate Change Act establishes a greenhouse gas emissions trading system and a carbon tax. Controlled legal entities will have their emission allowances capped and must reduce greenhouse gas emissions, potentially by adopting carbon capture and storage technology, or CCS. However, such investments involve high costs and risk from carbon price volatility. Associate Professor Dr. Piti Eiamchamroonlarp proposes using carbon contracts for difference for emission reduction projects, or CCfDs, as a tool for the government to compensate the difference between the market price of emission allowances and the cost of carbon avoidance or CCS services. This would incentivize industries to invest in low-carbon technology instead of buying emission allowances. These long-term contracts of 10 to 20 years would reduce financial risk and promote a domestic CCS market. Following the European Union's approach, CCfDs would be allocated through a competitive bidding process with an evaluation system to ensure the most effective use of public funds.

The digital token Blu Green Token began trading on the first day on the Bitkub digital asset exchange, opening at 1.30 baht per coin, up 8.33% from the subscription price of 1.20 baht, and during the day rose to touch 1.44 baht, or an increase of 20%. The token is issued by Siam TC Technology, a subsidiary of DITTO, as a digital investment token with carbon credits from a mangrove forest restoration project as the underlying asset. It is Thailand's first environmental token, raising 400 million coins worth 480 million baht to plant and care for over 17,531 rai of mangrove forest under the T-VER standard of the Thailand Greenhouse Gas Management Organization. Executives said this project will help businesses access carbon credits more easily and prepare for future cross-border carbon tax measures.

Sustainable Green Team, Ltd. has announced a strategic partnership with a Florida-based capital group to scale its carbon-market verification platform. The partner is committing capital toward production infrastructure and operations, alongside a multi-year purchase agreement for SGTM's product, and the parties are pursuing a master license for SGTM's verification technology. The partner will also originate and market carbon credits generated through the platform. The partnership comes amid surging demand for verified carbon credits, with independent analysts projecting global demand could climb toward 2 billion metric tons annually by 2030. SGTM's platform produces independently verifiable environmental credit certificates and is built on 180 pending patents spanning 12 institutional domains, with carbon markets being the first domain brought to a partner at this scale.

The global carbon offset and carbon credit market is projected to grow from $534.25 billion in 2026 to $1.43 trillion by 2032, at a compound annual growth rate of 17.85%, according to a new report from ResearchAndMarkets.com. The market, which surged from $454.41 billion in 2025, is being propelled by advanced technologies such as blockchain, remote sensing, and digital ledgers that enhance credit integrity and scalability. The report segments the market into compliance and voluntary structures, avoidance and removal credit types, and project categories spanning energy efficiency, forestry, renewable energy, and nature-based solutions. Regional dynamics vary, with the Americas leveraging regulatory support, EMEA showcasing mature trading systems, and Asia-Pacific advancing through industrial shifts and cross-border collaboration. Recent U.S. tariffs on carbon-heavy imports are affecting project costs and procurement strategies, though new tax benefits and grants are being considered to mitigate fiscal pressures.

The global carbon credit trading platform market is projected to grow from $244.74 million in 2026 to $894.33 million by 2032, at a compound annual growth rate of 23.62%. The market expanded from $202.61 million in 2025 to $244.74 million in 2026. Growth is driven by stringent regulations, corporate sustainability commitments, and technology solutions enhancing credit integrity. The report covers compliance and voluntary schemes, project types including forestry and renewables, end-user industries, transaction types, buyer profiles, platform options, and regions such as the Americas, Europe, Middle East, Africa, and Asia-Pacific. Key companies profiled include 3Degrees Group, AirCarbon Exchange, CME Group, Intercontinental Exchange, Nasdaq, and S&P Global.

Tencent Holdings has signed a 10-year agreement to buy 300,000 carbon removal credits from Singapore-based carbon developer Thryve.Earth, marking Tencent's first carbon removal credit deal outside China. The credits will come from an agroforestry project on Sulawesi in Indonesia, where degraded land is expected to be restored through a mixed crop farming system that sequesters carbon, improves soil quality, increases biodiversity, and provides income for local farmers. Tencent said carbon removal will play an important role in its goal to reach carbon neutrality across its own operations and supply chain by 2030, while emphasizing that reducing emissions remains its main priority. Alphabet, the parent company of Google, has also entered a separate 10-year offtake agreement for 260,000 credits from the same Sulawesi project, while McKinsey & Co. agreed to buy 75,000 credits. For Google, the agreement represents its largest carbon removal offtake deal to date and follows its participation in a new $915 million commitment for carbon dioxide removal technologies.

Amazon.com Inc. will purchase 1.95 million carbon credits from a project restoring degraded land in South Africa's Eastern Cape province by planting Spekboom, a succulent plant that sequesters carbon dioxide. The credits, representing just under half of the project's total generation, will be bought at a fixed price over more than a decade and resold through Amazon's Sustainability Exchange to its business units, suppliers, and other companies with net zero targets for 2050 or before. The commitment helped the World Bank secure investor support for a $120 million bond, with part of the proceeds going to Imperative, the company running the initiative. The project spans 50,000 hectares and is expected to create 11,000 jobs by planting 180 million shrubs by the end of 2028. Amazon has also purchased credits from reforestation projects in Ghana and Ivory Coast and from initiatives reducing refrigerant and methane emissions.

Intercontinental Exchange launched ICE GreenTrace, an environmental registry service for carbon markets. The platform supports the full lifecycle of carbon credits and energy certificates using the same technology that powers ICE's global financial markets. Launch partner Environmental Resources Trust migrated its ACR and ART programs to the new platform, moving over 437 million serialized credits and 40,000 files. The service aims to scale carbon credits into an institutional asset class by providing secure, regulatory-compliant infrastructure.

Deep Sky and Isometric announced that carbon captured and permanently removed from the atmosphere by Deep Sky Alpha in Innisfail, Alberta has been independently reviewed and registered as the first certified direct air capture carbon removal credits in North America. The credits, certified under Isometric's Direct Air Capture Protocol and carrying the Core Carbon Principles label, will be delivered to Microsoft and Royal Bank of Canada. Deep Sky Alpha achieved this milestone within 18 months of beginning construction, marking the first time a DAC project in North America has generated verified credits. The credits represent the beginning of Deep Sky's supply to Microsoft and RBC under their carbon removal agreement through 2034.

Tencent has announced 16 winners of its CarbonX 2.0 global climate initiative, who will share nearly US$30 million in catalytic funding. The winners were selected from 660 applications across 54 countries and regions, with ten teams spanning carbon dioxide removal, carbon capture for steel, carbon utilization, and long-duration energy storage, while six others receive tailored support including measurement and verification and carbon-credit procurement. The announcement was made at the London Science Museum during London Climate Action Week 2026. Tencent also reported progress on its own 2030 climate goals, with renewable energy use at self-owned data centers rising from 49.8% in 2024 to 83% in 2025, and Scope 1 and 2 emissions reduced by nearly 2.4 million tonnes of CO2 equivalent in 2025.

Gevo announced an expanded focus on the $12 billion carbon removal market and launched a new digital platform, gevocarbon.com, to broaden access to its carbon credits. The company recently ranked among the top five suppliers of carbon removal credits by delivery volume, according to CDR.fyi, and has set records for credits issued. Gevo's carbon removal sales in the first half of 2026 have already surpassed 2025 totals, with over 580,000 tonnes of carbon stored in four years from its operational bioenergy with carbon capture and storage project in North Dakota. Chief Carbon Officer Alex Clayton said the carbon business could exceed $30 million from existing operations as demand grows, and the company is positioning carbon as a core growth engine. The announcement coincides with Climate Week London, where Gevo will participate in a roundtable on carbon removal industry standards.

Intercontinental Exchange has launched ICE GreenTrace, an environmental registry technology service that brings financial market infrastructure to carbon credit registries for the first time. Launch partner Environmental Resources Trust migrated its leading carbon crediting programs ACR and ART to the new platform, transferring approximately 437 million serialized credits and over 40,000 documents from 1,162 projects to 857 registry account holders. ICE GreenTrace supports the full life cycle of environmental instruments including carbon credits, emission allowances, and energy attribute certificates. The migration marks a landmark moment for carbon markets, positioning ACR and ART to meet institutional investor demands on the same technology stack that powers globally systemic financial infrastructure.