Carbon Bank and Village Development Project
Trading high quality carbon credits while improving environmental conditions and increasing employment, revenue and CO2 capture
The Carbon Bank and Village Development Project (VDP) enable successful climate change adaptation, local socio-economic development, and biodiversity conservation in rural Thailand. Since 2005, the initiative has encouraged, supported and enhanced community-based indigenous forestry through carbon offsets. Trees planted in the project community forests generate carbon credits which are sold to local, national and international businesses and individuals. Businesses and individuals increasingly purchase carbon credits to offset emissions and the project’s innovative product provides more value for today’s demanding market since it combines village development with market-based carbon trading.
By the end of 2011, the project aims to establish 48 village projects. The scale up will foster a sustainable financial mechanisms for carbon credit payments which in turn will provide funds to implement community-wide infrastructure improvements and support village micro-credit saving and loan schemes.
The Plant a Tree Today Foundation (PATT) manages the overall initiative and promotes environmental and climate change awareness at the community level.
The Population and Community DevelopmentAssociation (PDA) manages the microfinance aspect of the project; and consults with the local communities.
The Forest Restoration Research Unit (FORRU) provides technical advice; assists with forest-restoration and management; and ensures abiologically diverse forest.