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9 May 2024

Thai Economy

Exploring the draft Climate Change Act: What's in store for the private sector? (Current Issue No.3490)

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Exploring the draft Climate Change Act: What's in store for the private sector?

  • The draft Climate Change Act may be proposed to the cabinet by mid-year. The measure will play a part in Thailand's drive to achieve net-zero greenhouse gas (GHG) emissions by 2065.
  • KResearch anticipates that the Climate Change Act would impact 14 carbon-intensive industries in Thailand, amounting to THB 6.5 trillion or 37 percent of the country’s GDP. These industries would face increased costs from carbon footprint assessment, an emissions trading scheme, and a carbon tax.
  • GHG reduction will become a new standard in business operations, requiring operators to consistently monitor carbon footprints, minimize fossil fuel consumption, and invest in renewable energy to maintain competitiveness in both domestic and international markets.

Thai Economy