Thailand Sets 6-Point Strategy To Achieve Its Zero Emissions Goal

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https://www.nationthailand.com/thailand/policies/40020237

Thailand sets 6-point strategy to achieve its zero emissions goal

Thailand Sets 6-Point Strategy To Achieve Its Zero Emissions Goal

TUESDAY, SEPTEMBER 20, 2022

THE NATION

Thailand Is Adopting A Six-Point Plan To Achieve Its Carbon Neutral And Net-Zero Emission Targets By 2050 And 2065 Respectively. These Goals Had Been Announced At The 26th United Nations Climate Change Conference (COP26) Held In Scotland Last Year.

Natural Resources and Environment Minister Varawut Silpa-archa said on Monday that to meet its COP26 goals, Thailand will have to bring its greenhouse gas emissions down to 388 million tonnes by 2025 and then to 120 million tonnes by 2037.

Speaking at the “New National Energy Plan for Sustainability” event, hosted at Grand Hyatt Erawan by Thansetthakij newspaper on Monday, Varawut urged businesses to embrace the ESG (environmental, social, governance) and BCG (bio, circular, green) frameworks for business development. He said this will help businesses use resources efficiently and become sustainable.

In the meantime, he said, the government will implement its six-point plan to ensure continued progress towards carbon neutrality and net-zero emissions.

Thailand sets 6-point strategy to achieve its zero emissions goal

The six-point plan covers the following:

1. Integrating carbon neutrality and net zero targets into national policies across all sectors, including industry, transportation, business, and agriculture. Thailand is working with Germany to adopt new “wet and dry” rice-farming technology that will allow farmers to grow rice all year, even during the drought season. “With this method, the per-rai yield can rise by 100 kilograms, while methane emissions from paddy waste can be reduced by 70 per cent,” he said.

2. Employing the CCUS (carbon capture, utilisation and storage) technology across several industries. The ministry is in the process of negotiating a reduction in adoption and technology transfer costs for entrepreneurs.

3. Issuing trade and investment policies that promote environmentally friendly or green businesses. The Board of Investment (BOI) has been tasked with providing tax breaks and other privileges to attract green investments, while related authorities will accelerate the registration of environmentally friendly products to boost their consumption and export.

4. Developing a mechanism for carbon credits to be used locally and overseas with the Natural Resources and Environmental Policy and Planning Office acting as a central agency. The office will also work with the Federation of Thai Industries (FTI) to promote carbon-credit trading in the private sector and to connect clean energy trading platforms with the carbon-credit market.

5. Expanding forested areas to maximise the absorption of greenhouse gases. Varawut said 323 million rai or 31.8 per cent of Thailand’s area is forested, but the ministry plans to increase this to at least 35 per cent by encouraging the private sector to plant trees in exchange for carbon credit. This year’s target has been set at 600,000 rai of new forest area, especially mangrove forests in coastal provinces as they have up to 10 per cent more carbon absorption power than terrestrial forests.

6. Enforcing the Climate Change Act that the ministry is drafting. Varawut said he believes Thailand can reach the net-zero goal faster if efforts to combat climate change are made mandatory by law.

“I have always had faith in Thais, and believe that if we work together, we can achieve goals and overcome any crisis,” Varawut said. “Most importantly, I believe that achieving carbon neutrality and net-zero emissions is the most sustainable way of preserving this planet for the next generation.”

THE NATION

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