“Buffer credits” means the amounts of greenhouse gases from the project, which are certified in accordance with this regulation, from which the Organization deducts and records in the registry system of the Organization with the objective to serve as a security against risk of non-permanency from the implementation of Premium T-VER projects of project type number 13 (except reducing Methane or Nitrous oxidefrom agriculture) and number 14.
Project participant has to prepare the "Non-permanence Risk Report" in which the risk events caused by natural disasters, human and/or other risk factors from monitoring results are assessed. The project participant shall then deposit the buffer credits into the pooled buffer account as collateral for the risk of non-permanence in the implementation of the project. The Announcement of the Board of Directors of Thailand Greenhouse Gas Management Organization re: Buffer Credit and Risk Assessment on Carbon Loss from Forestry and Agricultural Project under Premium T-VER Program B.E. 2566 (2023) prescribes the following rules, procedures and conditions.
Monitoring and assessment risk of carbon loss from non-permanence of forestry and agricultural projects under Premium T-VER
Deposition, releasing, cancelling and holding buffer credits to compensate carbon loss.
Project participant has to assess monitoring results and analyze the internal risk, external risk and natural risk or other risk factors in terms of probability, impact and spatial scale and propose mitigation measures.
The Non-permanence Risk Report shall be verified by the Validation and Verification Body (VVB).
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announcement of the board of directors of thailand greenhouse gas management organization re: buffer credit management and risk assessment of carbon loss from forestry and agricultural projects under premium t-ver program, b.e. 2566 (2023)