Manila:Thailand is advancing its efforts to secure foreign investment aimed at bolstering its implementation of the Climate Change Mitigation Act as part of its Net Zero 2050 goal. Minister Suchart Choongkram recently announced that the Department of Climate Change Mitigation has successfully secured over 80 million baht from the World Bank following negotiations at the IMF-World Bank 2026 event.
According to Thai News Agency, Minister of Natural Resources and Environment, Mr. Suchart Chomklin, has directed the Department of Climate Change Mitigation to attract foreign funding in the form of grants. These funds are intended to support the development of a carbon pricing mechanism, preparing the government, private sector, and stakeholders for the implementation of the draft Climate Change Act, which is expected to be enforced in 2027. This act is seen as a crucial element in Thailand's long-term plan to achieve its Net Zero 2050 target.
Dr. Raveewan Phuridej, the Permanent Secretary of the Ministry of Natural Resources and Environment, emphasized that climate finance is a top priority for Thailand to accelerate its efforts towards achieving the NDC 3.0 goals, including the Net Zero target by 2050. She highlighted the importance of following the Just Transition approach, which ensures that the shift to a low-carbon economy considers the potential impacts on workers, small and medium enterprises (SMEs), communities, and vulnerable populations.
Dr. Pirun noted that the successful acquisition of over 80 million baht in funding from the World Bank demonstrates the institution's recognition of Thailand's potential and commitment to establishing legal mechanisms. This funding will provide opportunities for both financial support and knowledge transfer, aiding Thailand in developing an effective Climate Finance system that can address climate challenges effectively.