SET and ICE to advance Thailand’s carbon market development
KEY POINTS
|
SET President Asadej Kongsiri mentioned that SET envisions carbon credit trading on a transparent platform as a key enabler for Thai and Asian businesses transitioning to a low-carbon economy. This initiative is a core part of our 2025 corporate strategy and aligns with Thailand’s national policy framework, particularly the Climate Change Act. The upcoming legislation will introduce carbon taxation, emissions trading, and carbon credits as core pricing mechanisms. SET is committed to studying and evaluating options for developing the required trading infrastructure to ensure a fair, transparent, and reliable carbon trading platform. The partnership will benefit from ICE’s expertise as operator of the world’s largest energy and environmental derivatives markets, providing SET with valuable insights for developing Thailand’s carbon market infrastructure.
ICE Global Head of Environmental Markets Gordon Bennett said: “Over the last two decades, ICE has built and operated financial technology and market infrastructure to support the growth of carbon markets. This experience makes ICE uniquely positioned to support Thailand in establishing a robust carbon market.”
The signing of the MoU with ICE, effective February 2025, marks a major step in developing a robust carbon trading platform in Thailand. By leveraging ICE’s financial technology and global environmental market expertise, SET aims to find the most suitable framework and mechanisms for the primary and secondary markets, paving the way for a comprehensive carbon market ecosystem in Thailand. The development of the fully integrated ecosystem will unlock new opportunities for Thai businesses and investors, driving meaningful contributions to the targets of the Nationally Determined Contribution (NDC).
About SET
The Stock Exchange of Thailand (SET) is among the most liquid exchanges in ASEAN, providing a full range of investment products including equities, world-class trading and post-trade infrastructure, and technology services. Going forward, SET’s vision “To Make the Capital Market ‘Work’ for Everyone” is aligned with the aim to support strong economic growth and competitiveness. Globally and regionally, SET has also actively coordinated with other exchanges to boost investment opportunities and capital market growth potential. Moreover, SET puts strong emphasis on sustainable growth by promoting listed companies’ business models that care for environmental, social and governance (ESG) practices.
About ICE
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks that connect people to opportunity. In 2000, ICE was founded on the principle of bringing price transparency to energy markets and since then has grown to become a leader in global environmental markets. ICE hosts the most liquid carbon markets in the world with a notional value of US$ 1 trillion per annum. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE’s futures, equity, and options exchanges – including the New York Stock Exchange – and clearing houses help people invest, raise capital and manage risk. We offer some of the world’s largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology , we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines and automates industries to connect our customers to opportunity. For more information, please visit: www.ice.com.
For more information about this collaboration, please visit www.setlink.set.or.th or contact Sustainability Service Development Department, The Stock Exchange of Thailand, at Tel. +66 (0) 2009 9868 or +66 (0) 2009 9887.
***********************************
