Thailand's Strategic Shift Towards Lowering Carbon Emissions
Thailand is implementing measures to reduce carbon emissions by one-third within six years, facing challenges from global trade barriers like the EU's Carbon Border Adjustment Mechanism. The country promotes electric vehicles with tax incentives, aiming for carbon neutrality by 2050. A proposed carbon tax will further support these efforts.
Thailand is taking significant steps to reduce carbon emissions by one-third in six years to meet international commitments and combat global warming.
Amid increasing global trade barriers like the EU's Carbon Border Adjustment Mechanism (CBAM), which targets carbon-intensive imports, Thailand's exports are at risk.
Key affected sectors include steel, cement, electricity, fertilizers, and aluminum.
Currently, only 7% of Thailand's exports are eco-friendly, and its clean energy usage is relatively low at 13-14% of total consumption.
In response, Thailand promotes electric vehicles (EVs) through incentives under the EV 3.0 and EV 3.5 schemes.
These incentives include reduced excise taxes, import tax cuts, and subsidies, which have led to a 685% increase in EV registrations in 2023.
Thailand aims for carbon neutrality by 2050 and net-zero emissions by 2065, with draft legislation in place to enforce these measures.
A proposed carbon tax would be based on the greenhouse gas emissions of products, further supporting emission reductions.
Amid increasing global trade barriers like the EU's Carbon Border Adjustment Mechanism (CBAM), which targets carbon-intensive imports, Thailand's exports are at risk.
Key affected sectors include steel, cement, electricity, fertilizers, and aluminum.
Currently, only 7% of Thailand's exports are eco-friendly, and its clean energy usage is relatively low at 13-14% of total consumption.
In response, Thailand promotes electric vehicles (EVs) through incentives under the EV 3.0 and EV 3.5 schemes.
These incentives include reduced excise taxes, import tax cuts, and subsidies, which have led to a 685% increase in EV registrations in 2023.
Thailand aims for carbon neutrality by 2050 and net-zero emissions by 2065, with draft legislation in place to enforce these measures.
A proposed carbon tax would be based on the greenhouse gas emissions of products, further supporting emission reductions.
