New Climate Finance Mechanism for Thailand

In August 2023, the Thai Climate Initiative a new climate finance mechanism developed to advance climate action implementation in Thailand, was introduced at the kick-off event in Bangkok.

The Thai Climate Initiative (ThaiCI) Fund is one of the four outputs of the Thai-German Cooperation on Energy, Mobility, and Climate (TGC-EMC) Project, commissioned by the International Climate Initiative (IKI) in December 2022. „The Environmental Fund Symposium 2023: Thai Climate Initiative (ThaiCI) Fund Kick-Off“ was hosted by the Environmental Fund, led by the Office of Natural Resources and Environmental Policy and Planning (ONEP), in cooperation with the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) at Pullman Bangkok King Power.

Supporting climate protection in Thailand

The goal of ThaiCI is to establish itself as a funding window within the Environmental Fund, providing subsidies to local stakeholders for effective climate action implementation. Simultaneously, it seeks to strengthen the Environmental Fund’s capacities in order to become Thailand’s first domestic climate finance mechanism. Both mitigation and adaptation projects are supported by the ThaiCI.

Kick-Off Event in Bangkok

Around 200 representatives from government agencies, local administration authorities, academic institutes, non-governmental organisations (NGOs), private sector, and the media attended the kick-off event of the ThaiCI, including representatives from ONEP, IKI, BMWK and GIZ. Mr. Philipp Behrens, Head of Division of the International Climate Initiative in BMWK, participated online and held a virtual keynote speech at the event. Celebrating the 15-year anniversary of the IKI in 2023 and introducing the ThaiCI as a pilot project aimed at transforming domestic financial intruments into climate finance instruments. During the event, Mr. Thalearngsak Petchsuwan, Deputy Permanent Secretary of the Ministry of Natural Resources and Environment, and Mr. Hans-Ulrich Südbeck, Chargé d’Affaires of the Embassy of the Federal Republic of Germany in Bangkok, both highlighted the opportunities presented by the cooperation between Thailand and Germany in promoting sustainable development and addressing climate and global environmental challenges.

Outlook

The ThaiCI primarily targets small-scale stakeholders including government agencies, local administration authorities, academic institutes, NGOs, and the private sector, as mentioned by Mr. Phirun Saiyasitpanich, Secretary-General of ONEP, during the event. The announcement of the first Thai CI call for proposals is tentatively planned for the end of 2023. Over a four-year period (2023 – 2026), at least four calls for proposals are expected.