Thailand
2024
Green horizons: Charting Thailand’s sustainable finance journey
November 25, 2024
Shangri La Bangkok
Synopsis
Thailand, as one of the most climate-vulnerable countries in the world, faces significant climate and health risks despite contributing less than one percent of global emissions. Its capital city, Bangkok, is grappling with rising sea levels, record heat and deteriorating air quality due to its geography.
The country of over 70 million recently pledged to reduce its greenhouse gas emissions by 40 percent by 2030, but it faces an uphill task due to its heavy reliance on fossil fuels, particularly oil and natural gas. Renewable energy currently accounts for 17 percent of total energy generated, with the government targeting to raise this to 50 per cent by 2050.
Thailand has launched a range of sustainable finance initiatives, including introducing a taxonomy last year, to pivot the Thai financial system towards sustainability and to finance the country’s economic transition. What role will the private sector play in this new evolving landscape? How will the country manage its financial risks stemming from climate change, environmental degradation, governance and social issues?
Eco-Business, in partnership with UNEP FI, are excited to launch the inaugural Thailand edition of Unlocking Capital for Sustainability, which will convene government and business leaders, financial institutions, and civic society to explore strategies and actions that will chart the way forward for the country’s sustainable development.
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Agenda
13:30
Registration
Speakers
Moderators
14:00
14:05
Opening keynote
14:15
Opening plenary – Decarbonising Thailand: Sustainable finance pathways to green growth
Thailand’s emissions show little sign of slowing down. Fuelled by strong growth, the nation’s emissions are projected to increase by a further 41 per cent by this decade.
The nation must therefore find ways of decoupling emissions from growth to meet its near- and long-term emission targets, from addressing its Scope 3 emissions – which make up 70 per cent of company emissions – to increasing its dependence on renewable forms of energy from the current 23 per cent.
How can the Thai economy rapidly decarbonise and capitalise on the opportunities in this transition and how can sustainable finance help unlock further capital for the country? With disclosure requirements increasing for businesses, how will this contribute to the country’s decarbonisation journey?
Meanwhile, Thailand has been making strides in its carbon credit market through the Thailand Voluntary Emission Reduction Programme. With a possible ASEAN standard for carbon projects emerging, how can Thailand shape this burgeoning industry?
This plenary will gather senior policy and business leaders and financial institutions to discuss the way forward.
Speakers
15:15
Plenary 2: Empowering Innovation – Strengthening Thailand’s climate tech ecosystem
Climate tech is emerging as a key sector to address our mounting climate crisis. Yet even as a wide range of innovations are gaining traction across the region, there is a wide gulf between these ideas and commercialisation.
Product development for climate tech have longer cycles and founders often need to navigate complex technical, commercial and regulatory environments. Investors also have to contend with the uncertain macroeconomic outlook even as they look to deploy capital into these budding enterprises.
Given the urgency to decarbonise the region, how can we better support climate innovations reach commercial scale? With the advancement of artificial intelligence, what are the exciting areas of growth for climate innovation? What policy interventions are required and how can we nurture a thriving ecosystem that deploys patient capital which enables the widespread scaling of these solutions?
This panel will bring together experts to discuss how Thailand and the region can cultivate a culture of innovation in the region and strengthen the climate tech ecosystem.
16:15
Closing guest-of-honour keynote
16:30
Networking session
Speakers
Moderators
Partners
In partnership with
Strategic partner
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UOB
United Overseas Bank Limited (UOB) is a leading bank in Asia with a global network of about 500 branches and offices in 19 countries and territories in Asia Pacific, Europe and North America. We believe in being a responsible financial services provider and we are committed to making a difference in the communities in which we operate.
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Outreach partner
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Asia Clean Energy Partners
Asia Clean Energy Partners is an international consultancy that supports the design and scale-up of effective clean energy initiatives. We provide services in the area of market and policy research; program design and support, project coaching and preparation; mobilization of financial resources for climate and clean energy projects; and communications, network development, and convening.
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