Accra:Krung Thai Bank has partnered with the Department of Climate Change to provide 20 million baht in funding aimed at developing a plan for Thailand's economic transition towards Net Zero emissions. This initiative was formalized during the IMF-World Bank Group Annual Meetings 2026, where both parties agreed to accelerate efforts to transform the nation's economy in line with global environmental goals.

According to Thai News Agency, the initiative includes a Memorandum of Understanding signed by Dr. Pirun Saiyasitpanich, Director-General of the Department of Climate Change and Environment, and Krung Thai Bank. This agreement seeks to establish a Thailand Just Transition Roadmap to promote investment in reducing greenhouse gas emissions, aligning with Thailand's NDC 3.0 and Net Zero 2050 targets. The funding will support measures to mitigate the impacts of transitions in the energy and transportation sectors, as well as develop financial instruments to assist SMEs, farmers, laborers, and communities.

Additionally, the Department signed another Memorandum of Understanding with PTT Public Company Limited and Krung Thai Bank under the I-SPARK project. This project aims to develop integrated funding mechanisms and project registration for carbon credits, using Rayong Province as a pilot model for low-carbon industries. The initiative is designed to encourage investment in clean technologies and utilize carbon credits in business practices.

Dr. Raveewan Phuridej, Permanent Secretary of the Ministry of Natural Resources and Environment, emphasized the importance of developing financial infrastructure that maintains a balance between reducing public consumption impact and driving industrial growth to meet greenhouse gas emission targets. The collaborative efforts, as outlined in the MOUs, are seen as crucial steps towards achieving a low-carbon economy in Thailand, with support from international stakeholders such as the World Bank.