World Bank lauds Thailand’s climate initiatives
High-level talks at Government House focus on the low-carbon city project, water security and flood management
Thai authorities and the World Bank have held strategic discussions on developing low-carbon cities, enhancing water security and combating coastal erosion, marking a significant step forward in the nation’s climate action efforts.
The talks took place on Monday at Government House, where Deputy Prime Minister and Minister of Digital Economy and Society Prasert Chantararuangthong met with Melinda Good, the World Bank’s country director for Thailand and Myanmar.
During the meeting, Prasert expressed gratitude for the World Bank's longstanding support of Thailand's development initiatives. He underscored his government's commitment to addressing climate change, which he identified as a crucial factor in the country’s future economic growth.
Good commended Thailand’s progress in sustainable development, particularly highlighting the nation’s achievements in promoting low-carbon financial industries.
She noted that Thailand's favourable investment climate and innovative approach could serve as a blueprint for other nations in the region.
The discussions centred on three key areas of cooperation. First, the Low Carbon City Project (LCCP), which the World Bank believes could become a regional model. The organisation is currently working alongside Thailand's Department of Climate Change and Environment to develop the initiative, with plans to facilitate carbon credit trading in the international voluntary market.
Secondly, the parties addressed water security, with the Thai government presenting its sustainable flood management solutions, including the Flood Way project. The World Bank advocated for comprehensive relocation strategies with strong community involvement, whilst both sides agreed to develop projects addressing industrial and urban water management needs.
The third focus area concerned coastal erosion, where the World Bank offered international case studies and innovative financing mechanisms. Thai authorities expressed interest in studying these approaches to develop tailored solutions for the country’s coastline.
The meeting concluded with both parties reaffirming their commitment to strengthening collaboration on sustainable development and climate action initiatives.
