Thailand Taxonomy: A Reference Tool for Sustainable Economy
30 Jun 23
Green and Transition
The financial sector plays a crucial role in mobilising funds to promote sustainability practices in the country. Most recently, financial sector has begun to comprehensively incorporate Environment, Social, and Governance (ESG) considerations in its business processes.
Working Group on Sustainable Finance has jointly published Sustainable Finance Initiatives for Thailand (the Initiatives) to set the direction and framework for driving sustainable finance across the financial sector.
23 August 2022...(learn more)
Financial institutions have governance structure and operational frameworks to support their environmental actions throughout their end-to-end process...(learn more)
Thailand has a taxonomy that serves as a common guideline in classifying environmentally-friendly activities that is internationally accepted and also suited for Thailand’s context, particularly in terms of setting appropriate timeframes during the transition period...(learn more)
Thai financial sector has in place an infrastructure that integrates all environment-related data required for financial institutions’ evaluation of opportunities and risk management.
Businesses, especially SMEs, have access to capital at reasonable costs and are able to adapt promptly throughout the transitional period and the mechanisms or measures to incentivize financial institutions and the business sector incorporate a combination of carrot and stick approaches that do not result in market distortions in the long run.
Thai financial sector has in place knowledge management systems that adequately prepares it for environmental changes.