Pact on carbon credit from community forests signed with Mae Fah Luang Foundation

Mr. Achawin Asavabhokhin, Land and Houses Senior Executive Vice President and Chief Financial Offer (left), and M.L. Dispanadda Diskul, Mae Fah Luang Foundation under Royal Patronage Secretary General and Chief Executive Officer, recently signed a cooperation agreement for the management of the Carbon Credit from Community Forests for Sustainability project.  In joining this project development, Land and Houses sponsors 14,500,000 baht in project outlay from 2025 to 2029 for target community forests in Chiang Mai, Chiang Rai, Mae Hong Son, Tak, and Nan provinces totaling 150,000 rai.

In Mr. Asavabhokhin’ s words, “The world today is taking environmental, social, and governance (ESG) issues more seriously, which echoes growing concerns about the problems and impacts facing the global society.  As an entity that is committed to responsible business practices, we not only recognize such issues, but have also consistently harnessed ESG issues as our business management rudder—whether in efficient greenhouse gas (GHG) emission management, in conscientious and sustainable consumption of resources, or in the promotion of communal and societal quality of life through management practices that are transparent, filled with good governance, and accountable.  We are delighted to play our part in this carbon credit management project, which represents another powerful driver to strengthen our environmental stewardship as well as social development. Our hope is for long-term sustainable transformation.”

M.L. Diskul added, “The Mae Fah Luang Foundation is likewise delighted that Land and Houses, a private business entity, has contributed to Thailand’s growing capability of carbon neutrality achievement by addressing the public policy under the COP26 agreement, a meeting of the parties to the United Nations Framework Convention on Climate Change, under Thailand’s GHG reduction policy. In the process, Land and Houses also helps grow community income with life improvement activities.  Cooperation between us intensifies our drive toward the achievement of national sustainability goals, notably via carbon credit management through the engagement of people and communities.  Such collaboration not only illustrates the “Cultivate Forest, Cultivate People” initiative of the late Princess Mother, a foundation tenet for over 35 years, but also community-centric development as well as the application of carbon credit to generate community income through the stewardship of forests, their adopted habitats.  Such management truly and sustainably eases global environmental problems.  We truly hope that this cooperation will not only reduce GHG emissions but also deliver a decent quality of life to communities to in turn give future generations a better world.”

The Carbon Credit from Community Forests for Sustainability project strives to advocate forest stewardship to communities, improve lives and strengthen communities by supporting systematic assessment of carbon dioxide sequestration (carbon credit) in community forests as a secure, sustainable source of income—a role model for nationwide multiplication of efforts—and enable the private sector to accrue carbon credit against GHG emissions as a result of their businesses.  Initiated in 2021, the project has to date covered 254,665 rai, accounting for 267 communities (2021-2024), and has registered as a Thailand Voluntary Emission Reduction (T-VER) Program under the Forest Category of the Thailand Greenhouse Gas Management Organization (Public Organization).The prevailing belief is that carbon credit represents a mechanism to satisfy the need for communities to look after forests as well as themselves, cut forest losses, bring forest-fire occurrences to below the national average, minimize PM2.5 problems caused by forest fires, and play a part in easing problems associated with unemployment and rising household debts.

Constantly paying attention to various aspects of environmental stewardship, Land and Houses selects eco-friendly products while commanding internal policies to ease environmental impacts, for instance, using electric motorcycles in projects to consume clean energy instead of liquid oil fuels, discontinuing plastic cups and bottles inside projects and Head Office, and conducting campaigns for employees to donate unused items to those that may benefit from them in an effort to minimize waste.  Land and Houses has also earned “Carbon Footprint for Organization (CFO) certification”, a proof of commitment and priority given to its drive toward GHG reduction. The signing of the Carbon Credit from Community Forests for Sustainability project cooperation agreement represents a landmark move for Land and Houses to jointly and sustainably grow the national capability for achieving carbon neutrality and addressing the Net Zero policy.