PUBLISHED: 6 Dec 2024 at 06: 10
According to the head of the Department of Climate Change and Environment, Thailand needs more work to gain access to financial support to combat climate change.
According to Phirun Saiyasitpanich, the country should get ready to participate in the New Collective Quantified Goal on Climate Finance (NCQG), a initiative funded by developed nations to assist poor or developing nations affected by climate change.
He claimed last month at the UN Climate Change Conference ( COP29 ) in Azerbaijan that world leaders had come to a consensus regarding a proposal to require developed nations to provide developing nations with at least US$ 300 billion annually by 2035. This is done in order to significantly lower greenhouse gas emissions and protect people’s lives and livelihoods from environment change’s worsening effects.
It is higher than the$ 100 billion annual pledge goal of$ 100 billion by 2025, which is currently being met.
Mr. Phirun argued that Thailand really take advantage of this opportunity to” challenge goals” set forth in the Paris Agreement to control the temperature rise to less than 1.5C.
” Without a good purpose, it is very difficult for Thailand to get the new fund”, he said.
The nation will need to submit a revised target to the UN next time, he added, in order to demonstrate its commitment to combating climate change. This will be a significant step in this regard.
Mr. Phirun argued that a culture change laws in Thailand is necessary in order to accomplish those objectives. According to more specific and effective measures and policies, he noted, it would make it important to have a practical pathway to the global climate change account.
He claimed that this would involve legally bound laws and regulations as well as other financial tools to help ensure the success of the project.
At a ceremony held on Wednesday to mark Thai Environment Day, the head of the Department of Climate Change and Environment said,” Malaysia will go a climate change invoice, showing its strong motivation to reduce greenhouse gas emissions.
” This allowed it to get those money quickly. A climate change bill that will be presented to the government next month will be fully supported by all stakeholders in Thailand, he said.
Without our unwavering commitment to combating climate change, we won’t be able to get the funding sources for which the competition is fierce. We aspire to have a low-carbon culture, a culture that is resistant to climate change, and a sustainable future in which all stakeholders are involved.
Thailand made a commitment at COP 29 to advance its National Determined Contributions ( NDCs ), or NDC 3.0, by reducing 270 million tonnes of greenhouse gas emissions by 2035.
The plan aims to improve the environment in its business sectors.