Publication of Thailand Taxonomy Phase I

The Bank of Thailand (BOT) and the Securities and Exchange Commission (SEC), as co-leads of the Thailand Taxonomy Board released the draft Thailand Taxonomy Phase I for public consultation during 26 December 2022 until 26 January 2023. The Thailand Taxonomy Phase I focuses on the economic activities relating to the energy and transportation sectors, which contribute to the highest proportion of carbon emissions. The objective of the Taxonomy is to standardize economic activities in order to use it as a benchmark or assess economic activities that are climate-aligned. The Taxonomy can also be one of the alternatives to be used as a credible reference for access to financial tools and services that support transition activities towards climate resilience. 

Throughout the consultation, BOT and SEC received valuable and useful comments from various stakeholders including governmental and private sectors, civil society, academic sector and international organizations. Most of the feedbacks agree with the concept that the Thailand Taxonomy Phase I would initially prioritize the economic activities that contribute significantly to greenhouse gases. Other views and suggestions were also submitted. For example, some respondents proposed that a red list of activities be created, and the scope of Thailand Taxonomy be expanded to cover other economic activities (i.e., manufacturing and agriculture) in the next phase. The Thailand Taxonomy Board has brought all comments into consideration and incorporated them in the final Taxonomy. The interested public may download the Thailand Taxonomy Phase I from BOT website (link) and SEC website (link) from 30 June 2023 onwards. Other access channels will be available in the future.

In addition, BOT and SEC will co-organize a seminar on, “Thailand Taxonomy: A Reference Tool for Sustainable Economy” on Wednesday, 5 July 2023, from 2.00 - 4.00 p.m. to promote the understanding of the concept and the use of Thailand Taxonomy Phase I as a reference tool for classifying green activities in Thailand. The seminar will be live broadcast via BOT and SEC Facebook pages. 

BOT and SEC would like to express our appreciation for comments and suggestions on the Taxonomy. We truly hope that the stakeholders will be able to adopt the Taxonomy as a reference tool for making policy or strategy, access green funding, and manage the opportunity and risk relating to the environment and climate change scenarios. Lastly, it is hoped that Thailand Taxonomy will be one of the foundations for supporting the economy on the transition journey towards the sustainable environment in a smooth and timely manner.

Re-disseminated by  Wealth and Society