Thailand to Enact Landmark Climate Change Law for Low-Carbon Transition
Thailand's cabinet has approved a climate change law aimed at enforcing a national framework for achieving net-zero greenhouse gas emissions by 2050, 15 years earlier than previously planned. The law will establish a national climate fund to support the transition to a low-carbon economy and is backed by the Department of Climate Change and Environment.
It mandates greenhouse gas reductions, carbon pricing, and the development of a national emissions inventory. The legislation requires over 4,000 companies to report their carbon footprints, creating a comprehensive database.
The climate fund is allocated an initial 200 million baht for low-interest financing for clean technology. The law will implement a carbon tax and an emissions trading system, starting with large corporations by 2031, and aims to prevent greenwashing while integrating Thailand into global supply chains.
