Bangkok: The Bank of Thailand, in collaboration with the Department of Climate Change and Environment, the Tourism Authority of Thailand, and commercial banks, has launched an initiative to support the hotel business towards sustainability. This project aims to provide knowledge and financing for hotels to transition towards environmentally sustainable practices.
According to Thai News Agency, the "Financing the Transition: Green Solutions for Hotels" project is designed to help Thai hotels achieve environmental sustainability and elevate Thailand's tourism ecosystem to international standards. Dr. Rung Mallikamas, Deputy Governor of the Bank of Thailand, highlighted that by the end of 2025, over 163 billion baht in loans had been disbursed to more than 700 businesses as part of the ongoing commitment to drive Thailand's transition to environmental sustainability. The initiative addresses structural issues such as declining growth rates, high inequality, and energy-related challenges in the face of global volatility.
The Joint Committee of the Three Private Sector Institutions (JCC) is working to boost the economy through technological innovation under the concept of "Reinvent Thailand." This includes focusing on key industries like tourism to lay a crucial foundation for long-term growth. The situation in the Eastern region underscores the need for alternative energy sources, as evidenced by the economic impact of the Hat Yai floods, which resulted in significant losses.
The project drives the financial sector to support Thailand's transition through strategic programs. Businesses must be aware of risks and willing to adapt, with support in knowledge and technology. The government is encouraged to provide comprehensive certification, especially for hotels, as international standards become stricter. Consumer behavior is also shifting towards sustainability, with a significant percentage of travelers seeking sustainable travel options.
The launch event featured a panel discussion on promoting green hotels. Dr. Petchrada Aochaiyaphum from the Department of Climate Change and Environment discussed the implementation of the first climate change law aimed at transitioning to a low-carbon economy. Ms. Natthaphan Treedecha from the Tourism Authority of Thailand emphasized transforming sustainability into valuable experiences. Mr. Peerasusm Teerakomen from the Thai Energy Management Association focused on reducing energy consumption in hotels.
Dr. Wichai Narongvanich from Kasikornbank highlighted the role of commercial banks in offering products for hotel adaptation, while Ms. Amornrat Dechudomsap from IFC emphasized the importance of certification in reducing business costs and accessing financing.