Thailand's New Minister Pushes for Climate Change Bill to Meet Net Zero by 2050
Thailand's new Minister of Natural Resources and Environment, Suchart Chomklin, has emphasized the importance of a climate change bill during a recent conference speech. The government plans to submit its third National Determined Contribution (NDC3.0) to the United Nations Development Programme this year, aiming to achieve the global Net Zero by 2050 commitment.
Thailand is committed to reducing its greenhouse gas emissions by 40% in five key sectors by 2035. These sectors include energy, transport, industry, waste management, and farming. The upcoming climate change bill includes plans for a carbon tax, state subsidies, and low-interest rates for small and medium enterprises (SMEs) as financial incentives to achieve net-zero goals. The bill aims to enhance policy mechanisms, reduce greenhouse gas emissions, adapt to climate change, and provide financial support for net-zero goals. The government also plans to establish an early warning system to respond to extreme climate patterns, such as severe droughts and floods. The global temperature increase has exceeded 1.75°C, surpassing the 1.5°C target set by the Paris Agreement. The bill is expected to be submitted to parliament in 2023 or early 2024, as the government focuses on climate change policies that align with the Paris Agreement to limit global warming.
The climate change bill is a key step for Thailand to achieve its greenhouse gas reductions commitment and become a regional carbon credits hub. It is expected to enhance policy mechanisms, reduce emissions, adapt to climate change, and provide financial support for net-zero goals. The bill is anticipated to be submitted to parliament in the near future, aligning with Thailand's commitment to the Paris Agreement.
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