• The 31st UN Climate Change Conference (COP31), scheduled for November 9–20, 2026, in Türkiye, will focus on shifting from setting climate targets to implementing them. Key priorities include translating countries’ Nationally Determined Contributions (NDCs) into tangible investment projects and expanding developing countries’ access to climate finance and technology.
• COP31 is expected to set out more clearly defined, sector-specific implementation targets. Under the Global Climate Action Agenda, the COP31 Presidency has proposed the following targets for 2035: increasing the share of electricity in global final energy consumption to 35 percent; halving the growth in waste generation; reducing energy intensity in buildings by at least 25 percent; and raising the rate of circular material use to at least 15 percent. These targets point to investment opportunities in clean energy, waste management, energy-efficient buildings, and the circular economy.
• Thailand is preparing to advance five key priorities in the COP31 negotiations, following Cabinet approval of its negotiating position on October 20, 2026. These are: (1) greater clarity on Climate Finance; (2) advancing the Global Goal on Adaptation to strengthen disaster resilience; (3) supporting a Just Transition; (4) promoting cooperation on Technology and Methane Emissions Reduction; and (5) supporting the Implementation of NDC 3.0. Thailand will also continue to promote high-integrity carbon credit standards through ASEAN cooperation.
• Nevertheless, several challenges remain to be addressed at COP31, as many of the agenda items build on previous agreements that have yet to be fully implemented. Key issues include: (1) Climate Finance, for which funding sources, the allocation of responsibilities, and developing countries’ access conditions remain unclear; (2) Adaptation and Just Transition, which continue to face constraints in terms of economic incentives and mechanisms to support transition costs; and (3) NDC Implementation, where a gap remains between stated targets and actual outcomes. If COP31 fails to provide greater clarity on these issues, the additional impetus for investment and Thai businesses may be limited.
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