Thailand Drives Net Zero with Krungthai & PTT MOU Signings
Natural Resources Minister Suchart Chomklin announced two MOUs signed on Oct 17, 2026, at the IMF–World Bank Meetings, securing 20 million baht from Krungthai Bank to drive Thailand's low-carbon economy.
Stock photo for illustration only, not from the actual event
- Climate Change Department signed two vital MOUs on October 17, 2026, targeting Net Zero
- Krungthai Bank provides an initial 20 million baht to fund the Just Transition Roadmap
- Collaboration with PTT and Krungthai launches the I-SPARK project for low-carbon industries in Rayong
- World Bank President Ajay Banga attended as an honorary witness
Natural Resources and Environment Minister Suchart Chomklin has tasked the Department of Climate Change and Environment to forge partnerships with financial and industrial sectors to accelerate Thailand toward a low-carbon economy and Net Zero goals.
The cooperation was officially sealed on October 17, 2026, during the IMF–World Bank Group Annual Meetings 2026, through the signing of two Memorandum of Understanding (MOU) documents. Krungthai Bank PCL has provided an initial funding of 20 million baht to develop the Thailand Just Transition Roadmap and establish financial mechanisms for domestic greenhouse gas reduction.
Suchart stated that linking climate action with financial mechanisms aims to achieve tangible emission reductions while boosting national competitiveness. He emphasized that the transition must account for impacts on SMEs, farmers, laborers, and local communities to ensure smooth adaptation to evolving global trade rules.
Stock photo for illustration only, not from the actual event
"Driving Thailand towards Net Zero must go hand in hand with taking care of the people. We must create opportunities for businesses and operators to access capital and clean technologies while assisting groups that may be affected by the transition, ensuring a fair transition where no one is left behind."
Suchart Chomklin
Dr. Ralewan Puridet, Permanent Secretary of the Ministry, added that multi-sector collaboration lays the foundation for a sustainable low-carbon economy and green job creation. Meanwhile, Dr. Pirun Saiyasitpanich, Director-General of the Department, detailed the two agreements:
- First MOU: Partnering with Krungthai Bank to draft the Just Transition Roadmap and mitigation measures for the energy and transportation sectors.
- Second MOU: Teaming up with PTT PCL and Krungthai Bank under the I-SPARK project to explore blended finance mechanisms and carbon credit registration, piloting in Rayong province.
Signing these agreements at the IMF–World Bank Annual Meetings highlights Thailand's strategic intent to attract international green financing. The presence of World Bank President Ajay Banga as an honorary witness reinforces global investor confidence in Thailand's environmental commitment and policy framework.
Source: Khaosod Politics
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