Sustainable financing: Unlocking Thailand’s net-zero pathway challenge

The urgency of tackling climate change and transitioning towards a sustainable future has drawn increased attention to the importance of sustainable financing in recent years. With every investment decision holding the potential to mould the fate of the planet, governments, corporations, and financial institutions are recognising the significance of funding environmentally friendly initiatives.

The push for a net-zero carbon economy is crucial, as approximately 50 gigatonnes of greenhouse gases are released into the atmosphere yearly. Approximately US$100 trillion in investments will be needed by 2050 to ensure the balance between annual emissions and removals is net zero.

This monumental challenge calls for collaboration and concerted efforts from diverse stakeholders – governments, regulators, financial institutions, investors, consumers and real economy participants – who together can redefine the future of our planet through sustainable financing.

Despite numerous ambitious goals declared by countries worldwide, a misalignment can often be observed between national commitments and the global net-zero emission pathway. This disparity threatens the actualisation of an environmentally sustainable future.

For countries like Thailand, sustainable development is imperative, with a commitment to reduce greenhouse gas emissions by 30 to 40% by 2030, reach carbon neutrality by 2050, and attain net-zero emissions by 2065.

Tan Choon Hin, President and CEO of UOB Thailand, believes it is crucial that we strike a balance between socioeconomic considerations and our net-zero aspirations in order to ensure a just and smooth transition to a greener future.

By Alex Morgan

Caption: Photo Courtesy of learn.g2.com

Full Story: https://thethaiger.com/news/business/unlocking-sustainable-finance-thailands-net-zero-pathway-challenge

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