Thailand will need to mobilize significant amount of domestic and international finance to achieve its mitigation and adaptation targets. The issue of how to mobilise public and private investments to help respond to climate change is one of the focus of the Thai government. Under the framework of the Thai-German cooperation on climate change, ONEP and GIZ are working together to create an enabling environment for climate finance.
To facilitate climate action within the country, the Office of Natural Resources and Environmental Policy and Planning (ONEP) and GIZ organised a workshop to strengthen Thai institutional structures to mobilize climate financing. As Thailand’s focal point for all climate change issues, ONEP is mandated to oversee and ensure that Thailand is on track with the implementation of national climate targets. Recognising the transformative role that targeted climate investments can play, GIZ is supporting ONEP in strengthening institutional structures to mobilise financing for the implementation of national climate targets, or Nationally Determined Contribution (NDC).
Through the Thai-German Climate Programme (TGCP), GIZ brings in international experts to lay out an effective framework and practical recommendations for stimulating investment in each target sector. The aim is to create a conducive environment to enable the mobilization and allocation of funds to climate actions.
At this gathering, Thai stakeholders from agriculture, energy, waste, water, and transport sectors shared their perspectives on priority areas for climate financing.
They then mapped existing and potential new sources of finance for climate interventions as well as identified barriers and challenges. Finally, stakeholders discussed measures to strengthen institutional mechanisms, manage financial flows and leverage private sector participation to ensure NDC implementation.
This workshop is the first of a series of activities to be organized by the Climate Finance team under the TGCP. Main tasks include supporting partners’ efforts in strengthening domestic financial mechanisms, empowering national stakeholders to gain access to international finance, and engaging private sector in climate financing and investment.
Therefore, keeping mitigation and adaptation commitments to the Paris Agreement will be pivotal to avoid increasing already high environmental risks for communities and economies. And for that, finance will be a major enabling factor.