Thailand and Switzerland's two Ministers of Environment signed a cooperation agreement on climate action under Article 6 of the Paris Agreement on 24 June 2022. This bilateral agreement regulates the cooperation between the two countries and establishes the legal framework for the implementation of climate protection activities by the KliK Foundation. The ITMOs achieved with KliK Foundation's financial support are transferred in accordance with the bilateral agreement and used to meet Switzerland's emission reduction target under the Paris Agreement. The cooperation agreement ensures that the ITMOs, in addition to Thailand's unconditional NDCs (Nationally Determined Contributions), meet the highest standards of quality, environmental integrity, SDGs and human rights. To avoid double counting, Thailand commits to increase its emissions balance by the amount of ITMOs transferred to Switzerland.
Chatrapon Sripratum, Vice President, Strategy Development and Investment Planning Department at Energy Absolute Public Company Limited said: “Bangkok E-Bus is the first programme developed in accordance with Article 6 of the Paris Agreement in Asia and among the first worldwide. In implementing this programme, Energy Absolute Public Company Limited is acting as a pioneer in this field of cooperative climate protection in Thailand. This contribution towards a decarbonised economy will act as a beacon programme and inspire other private sector actors in Thailand to scale up their climate action."
Michael Brennwald, Head International at KliK Foundation, said: “The Bangkok E-Bus Programme stands as a beacon programme for the important journey towards substantial climate action under Article 6 of the Paris Agreement. The Article 6 mechanisms are strongly developing, and we are looking forward to further programme proposals from the private sector in Thailand, as well as from other countries that signed a bilateral cooperation agreement with Switzerland."