Nation Thailand
Thailand maps climate law to tackle economic risks and fund green transition
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Thailand is preparing a Climate Change Bill that could take effect in the third quarter of 2027, as officials warn that inadequate action to address climate risks could leave the economy facing losses equivalent to as much as 14% of GDP by 2050.
Key facts
- Phirun highlighted the “cost of inaction”, citing a World Bank report estimating that Thailand’s GDP could be 7-14% lower by 2050 without stronger adaptation measures.
- Phirun also referred to long-term plans to phase out coal-fired power plants gradually and increase the share of clean energy to 24% by 2050.
- The latest progress figure cited in the presentation was a reduction of about 16% in 2024
- The account of his remarks cited a reduction of 40% by 2035.
- Achieving the 2035 commitment would require investment of at least THB2 trillion, he said
- Under that nationally determined contribution, the country aims to reduce greenhouse-gas emissions by 30-40% compared with a business-as-usual scenario.
Summary
SustaiNation
The proposed legislation would introduce carbon-pricing mechanisms, connect voluntary carbon credits with a mandatory emissions trading system and establish a Climate Fund to support businesses and communities through the transition.