ADB initiates Climate-Finance Program in Collaboration With Thailand’s Climate Change and Environment Department

During his recent visit to Thailand from 24–28 June, Asian Development Bank (ADB) Vice-President for East and Southeast Asia, and the Pacific Scott Morris, together with ADB Country Director Anouj Mehta, launched a new climate finance program in collaboration with Thailand’s Ministry of Natural Resources and Environment’s Department of Climate Change and Environment (DCCE) Director General Phirun Saiyasitpanich.

The program, titled “Accelerating Climate Finance in Thailand,” aims to enhance Thailand’s capacity to expedite finance from various sources—public, private, and capital markets—to meet its net-zero targets. It includes policy development for innovative finance strategies, implementation of road maps and pilot projects in challenging sectors such as electric mobility, resilient cities, and biodiversity, and capacity building in innovative climate finance approaches.

According to Mr. Morris, “Thailand’s high susceptibility to climate change necessitates accelerated green finance from both private and public sectors. We will assist Thailand in creating innovative financial tools like national derisking finance mechanisms and sustainability-linked incentive bonds. Additionally, we will collaborate with DCCE to formulate viable project models in under-financed sectors to attract private capital.”

Mr. Phirun expressed confidence in ADB’s ability to introduce sector-specific ideas and financial mechanisms to support Thailand’s climate targets. “We must explore all avenues to achieve current and future climate goals, including access to diverse finance options from international sources,” he emphasized.

The visit underscores ADB’s intensified focus on climate initiatives in Thailand, aligning with the country’s goal of achieving carbon neutrality by 2050. This effort expands on ongoing climate-focused financing initiatives such as the Green, Social, and Sustainable Bonds (GSS + Initiative) and the Bio-Circular Green Growth Initiative.

In a related development, Mr. Morris also represented ADB in a partnership signing with the Agence française de développement, committing €1 million to support the Nature Solutions Finance Hub for Climate and the Environment. Managed by ADB, this hub promotes nature-based solutions across Asia and the Pacific.