亚开行-泰国气候融资格局：弥合通往净零排放的差距（英）

ADB BRIEFSNO. 347AUGUST 2025ISBN 978-92-9277-386-1 (print)ISBN 978-92-9277-387-8 (PDF) ISSN 2071-7202 (print)ISSN 2218-2675 (PDF)Publication Stock No. BRF250306-2DOI: http://dx.doi.org/10.22617/BRF250306-2Thailand’s Climate Finance Landscape: Bridging the Gap to Net ZeroKEY POINTS• From 2018 to 2024, the country’s climate mitigation investments totaled B1.6 trillion ($47 billion). Energy (48%) and transport (16%) dominated. Adaptation, on the other hand, accounted for less than 1% of climate finance.• Corporate and commercial banks contributed over 60% of climate finance, primarily in renewable energy and electric vehicle infrastructure. Sectors such as agriculture, water, waste, and adaptation remained critically underfunded.• Thailand needs $22 billion–$28 billion yearly in climate investments between 2030 and 2050 to meet its nationally determined contribution and net-zero targets. Current flows fall short by 50%, creating an annual investment gap of $11 billion–$17 billion.• This assessment concludes with a proposal for a five-pillar road map: catalytic finance, green capital markets, institutional strengthening, public–private partnership frameworks, and a national finance repository.Karan ChoukseyClimate Change Specialist Asian Development Bank (ADB)Peter du PontClimate Finance Consultant ADBMichael RattingerSenior Climate Change Specialist ADBSarinee AchavanuntakulClimate Finance Consultant ADBINTRODUCTIONThailand has evolved into a diverse economy with a strong industrial base, a growing tourism sector, and a significant agricultural presence. While these sectors have raised living standards, they have also increased pressure on energy systems and the environment. Climate change now poses a major threat, with rising sea levels, extreme weather events, and resource depletion risking long-term economic stability. Key pillars of Thailand’s economy—manufacturing, agriculture, and tourism—are highly vulnerable to climate-related disruptions such as erratic rainfall, heat waves, and environmental degradation. Despite the introduction of green and sustainability-linked finance, investment in climate-focused projects is still limited. Many financial institutions remain hesitant to support high-risk or low-return initiatives, slowing progress toward climate resilience. Thailand has pledged to reduce greenhouse gas emissions by 33% unconditionally—and up to 40% with international support—by 2030, and to achieve carbon neutrality by 2050 and net-zero emissions by 2065. Meeting these targets will require a substantial scale-up in finance. From 2018 to 2024, average annual nationally determined contribution (NDC)-related investment stood at $8 billion. From 2030 onward, the country will need to mobilize at least $21 billion yearly to stay on track. Climate finance remains heavily skewed toward mitigation, particularly renewable energy and electric mobility. Adaptation receives less than 1% of total funding, leaving essential areas like water manageme