Accra:Krungthai Bank has committed 20 million baht to support the development of a plan aimed at transitioning Thailand's economy towards Net Zero emissions. In collaboration with the Department of Climate Change and Environment, this funding will aid in the creation of a roadmap for a low-carbon economy.
According to Thai News Agency, Mr. Suchart Chomklin, Minister of Natural Resources and Environment, has directed the Department of Climate Change and Environment to accelerate efforts in developing a plan that supports a transition to a low-carbon economy. This plan is designed to provide opportunities for financial investment in green industries and to assist small and medium-sized enterprises (SMEs) and vulnerable groups in adapting to new economic challenges.
Dr. Pirun Saiyasitpanich, Director-General of the Department of Climate Change and Environment, announced a Memorandum of Understanding signed with Krung Thai Bank Public Company Limited on October 17, 2026, during the IMF-World Bank Group Annual Meetings. The agreement focuses on creating a roadmap to facilitate investment in greenhouse gas reduction, in line with Thailand's NDC 3.0 and Net Zero 2050 targets. Additionally, Krung Thai Bank will help develop financial measures for various sectors, including the government and Multilateral Development Banks, to assist communities and laborers in adjusting to these changes.
An additional Memorandum of Understanding was signed with PTT Public Company Limited and Krung Thai Bank under the I-SPARK project to create a funding mechanism and develop a pilot model for low-carbon industries in Rayong Province. This initiative aims to integrate carbon credits into business practices, serving as a prototype for expansion to other industrial areas.
Dr. Pirun highlighted that these agreements are the result of the Department's proactive approach, following the policies set by Mr. Suchart Chomklin and Dr. Raveewan Phuridej, Permanent Secretary of the Ministry of Natural Resources and Environment. The signing ceremony, attended by high-ranking officials including the President of the World Bank Group, Mr. Ajay Banga, demonstrates Thailand's commitment to meeting global environmental standards and attracting investment.
Minister Suchart emphasized the importance of collaboration between the government, financial, and industrial sectors to improve economic opportunities and quality of life for Thai citizens. Dr. Raweewan Phuridej further noted the need for developing financial infrastructure that supports a balanced transition, enhancing trade competitiveness while achieving greenhouse gas reduction targets.