World's most expensive carbon credits in Thailand's first forest initiative

The forest in Khon Kaen Province, Thailand. (Photo: iStock)

The Bank for Agriculture and Agricultural Cooperatives (BAAC) in Thailand has bought 400 tons of carbon credits at what is considered the world's highest price for such a project.

The bank purchased 120 million baht worth of credits at 30,000 baht per ton in the BAAC Carbon Credit project, which marks the first forest carbon credit scheme in Thailand.