Thai Minister Secures $2.4M World Bank Grant for Climate Law
Thailand’s Natural Resources and Environment Minister Suthchai Chommeng announced that the country has secured an 81.6‑million‑baht grant from the World Bank to support the development of carbon pricing mechanisms and economic models for its upcoming Climate Change Act. The funding, finalized at the IMF‑World Bank Annual Meetings in October 2026, will help Thailand prepare for the law’s 2027 enforcement and advance its net‑zero emissions target by 2050. Officials said the grant will also promote a just transition by building knowledge and financial tools for businesses, workers and communities.
Suthchai said the agreement emerged from the IMF–World Bank Group Annual Meetings 2026 held on October 14, 2026, which yielded financing for two projects. The first, the Partnership for Market Implementation (PMI), received about 68 million baht to study the suitability of carbon pricing instruments for Thailand, design economic tools to cut emissions, and prepare government and private sectors for future climate legislation. The second project, Thailand’s Long‑Term Climate Strategies (LTS), obtained roughly 13.6 million baht to develop and apply economic models for analysing pathways to net‑zero while aligning long‑term investment planning. He stressed that the transition to a low‑carbon economy must proceed hand‑in‑hand with maintaining national competitiveness, taking into account impacts on businesses, especially SMEs, workers and communities. The World Bank funding therefore not only strengthens legal and economic readiness but also offers a chance to build knowledge and financial tools so all sectors can adapt fairly and sustainably.
Permanent Secretary Dr. Rawiwann Phuridech said climate finance is a key mechanism for driving Thailand’s NDC 3.0 and net‑zero 2050 targets, and that cooperation with the World Bank will enhance the country’s ability to plan and invest in climate action while supporting a just transition that balances economic, environmental and social considerations. He added that the achievement reflects Thailand’s partnership with international financial institutions and marks another step toward concrete implementation of the net‑zero goal.
