Thailand approves landmark Climate Change Bill with carbon tax and ETS

Thailand has passed its first comprehensive climate law, aiming to cut greenhouse gas emissions by 47% by 2035 and achieve carbon neutrality by 2050. The bill introduces carbon taxes, an emissions trading system (ETS), and a national climate-policy body, creating a framework for managing emissions across key sectors. An earlier draft indicated that more than 30 fuels and products, such as gasoline, diesel, and liquefied natural gas, would be subject to a domestic carbon tax. Implementation will roll out in three phases starting 2026, impacting industries that represent 37% of Thailand’s GDP. Financial institutions view the law as a catalyst for competitiveness, signaling a major shift toward sustainable growth and global trade readiness. The bill also establishes a state climate fund and a national taxonomy to guide green investments, reinforcing Thailand’s commitment to long-term climate resilience.
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