Thailand’s Climate Change Act is intended to support the development of a low-carbon economy while enhancing the competitiveness of its business sector in the face of trade-related challenges.
The draft Climate Change Act includes the establishment of the Climate Fund, which aims to cut greenhouse gas emissions, encourage the use of sustainable energy sources, and strengthen the country’s ability to adapt to climate change.
As a legal entity, the Climate Fund will provide financial support—through loans or grants—for initiatives related to emission reduction, climate adaptation, research and innovation, and other relevant activities.
The Climate Fund is set to play a key role in supporting Thailand’s transition to a low-carbon economy, with the projected generation of US$ 31.8 billion (1.1 trillion baht) by 2050. The fund will also play a key role in supporting Thailand’s efforts to report emissions, co-invest in carbon reduction technologies, and improve climate resilience within communities.
