As in other Southeast Asian countries, Thailand is accelerating its move to decarbonize. Apart from the obvious fundamental benefits that decarbonization brings, there are other urgent social, economic and political factors spurring this. These include the huge potential physical risk that flooding could cause, a sizable ~$4.7 billion worth of Thailand’s exports being put at risk if they cannot comply to Carbon Border Adjustment Mechanisms (CBAM), and green energy becoming an increasingly important consideration for foreign investors.
Fortuitously, Thailand is bestowed with unique endowments that present it with opportunities to decarbonize. McKinsey identified three sectors to prioritize and offers possible steps that can be taken to fast forward decarbonization. Decarbonizing will take time and effort to bring about but zeroing in on these priorities shines a light on where to begin and go from here.
