The 28th session of the Conference of the Parties (COP28) to the United Nations Framework Convention on Climate Change (UNFCCC), which is an important international environmental leadership conference, will take place early December or November 30 – December 12, 2023 in Dubai, United Arab Emirates. Representatives from nearly 200 parties (countries) will attend this conference, which is expected to monitor and negotiate important issues raised at COP27 conference, as follows:
As a member country, Thailand will present the results of the 2nd Thailand Climate Action Conference (TCAS 2023) at the COP28 conference; important issues that will also be raised at the conference include:
- Participation in driving Thailand’s action at the global, national and provincial levels, and participation of all sectors in Thailand to achieve the goals of the Paris Agreement.
- Developing countries including Thailand have limitations on cost and access to climate-friendly technologies, in which financial assistance is required.
- Regarding climate change financing mechanisms, Thailand is deemed to present an increase in the efficiency of environmental funds and carbon credit management through the establishment of the Thai Climate Initiative fund (ThaiCI), which operates under the Environmental Fund, to support the country’s climate change action.
- Regarding Thailand’s carbon credit market, Thailand will present the development of a domestic carbon credit mechanism under Premium T-VER standard in line with international practices, to build trust in the process of reducing greenhouse gases, including compensation for greenhouse gas emissions under the airline’s CORSIA measure, which is currently being evaluated by the International Civil Aviation Organization (ICAO).
In terms of actions to reduce the impact of climate change (Climate Action), it is expected that the Thai government will present results of the promotion of important action plans, regulations and laws that have already come into effect and that are prepared to be implemented in order to achieve concrete results in reducing the impacts of climate change, as follows:
The COP28 conference is expected to prompt the Thai business sector to make more adaptations to international regulations and standards that will be clearer and stricter. Adaptation shall be made in terms of greenhouse gas emissions, which will cover methane emissions, social impacts, food security and human rights along with environmental impacts to cover the entire supply chain. Regulations or action plans related to the mentioned issues will be transmitted from developed countries to developing countries, large companies to small companies and SMEs. Although currently there are no applicable regulations or measures or penalties in Thailand, risks lie ahead and businesses at all levels must quickly adapt to the global context.1 Thailand is expected to see peak GHG emissions in 2025 at 368 million metric tons of carbon dioxide equivalents (MtCO2eq) and intends to reduce its GHG emissions by 40% from the projected business-as-usual (BAU) level by 2030, equivalent to 222 MtCO2eq. To be specific, Thailand intends to reduce its GHG emissions domestically by 30% from the projected BAU and receives support for GHG reduction from abroad by 10% (Conditional NDC) from the projected BAU. Source: 2nd Update NDC, Climate Change Management and Coordination Division2The Joint Statement of COP28UAE, https://prod-cd-cdn.azureedge.net/-/media/Project/COP28/files/COP28-Letter-JointStatement.pdf?rev=a8f770b65b5b40b1a5061eaddca52b543 Currently, there are partnerships that are related to reducing methane emissions from oil and natural gas production companies, such as the Oil and Gas Climate Initiative (OGCI), the Aiming for Zero Methane Emissions Initiative, the Oil & Gas Methane Partnership 2.0, Global Methane Pledge, Methane Guiding Principles.4 Globally, investment funds of at least USD1.9-3.7 trillion a year are needed to achieve net zero emissions by 2050. Source: Adaptation Fund, https://www.adaptation-fund.org/cop28/5 Received EUR6.5 million in funding from International Climate Initiative (IKI) of Germany’s Federal Ministry for Economic Affairs and Climate Action (BMWK), source: the German Agency for Development Cooperation (GIZ) in Thailand
6 Source: Thailand Greenhouse Gas Management Organization (Public Organization)
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