Bangkok, 24 September: Strengthening water governance, scaling renewable energy and enforcing robust climate legislation are essential to safeguarding Thailand’s industrial competitiveness and financing its development goals, business and policy leaders said at the flagship Unlocking capital for sustainability summit in Thailand yesterday.
Thailand will need approximately US$210 billion (THB7 trillion) by 2035 to deliver on its net zero targets, including close to US$7 billion (THB230 billion) in international support, Dr Napaporn Tangtinthai, Director for Climate Finance and Investment Subdivision, Strategy and International Cooperation Division, at the Department of Climate Change and Environment (DCCE) said.
She said DCCE aims to link sectoral priorities such as food security and water resource management with clear investment needs, while aligning public investment for mitigation and adaptation within the national budgeting process.
“In parallel, DCCE plans to establish a national climate finance monitoring and evaluation system, covering both domestic and international finance and linked to [Thailand’s] Climate Change Information Center. This will help us track finance flows, assess outcomes and support a more systematic, data-driven approach to climate investment and decision-making,” she said in her keynote address.
She added that DCCE is planning a Working Group on Financial Transition Strategy to address key policy and financing gaps while identifying priority sectors, especially hard-to-abate and energy-intensive industries.
Organised by Eco-Business in partnership with UN Environment Programme Finance Initiative, alongside partners United Overseas Bank Limited (UOB), One Bangkok and CDP, the 2026 edition of Unlocking capital for sustainability – Thailand convened more than 100 delegates from government, finance and industry under the theme of “Ambition to action: Accelerating Thailand’s transition”.
In his keynote address, H.E. Danny Annan, Ambassador of Denmark to Thailand and Cambodia, said Thailand’s future competitiveness will hinge on clean energy adoption, resource efficiency, resilient infrastructure and the environmental traceability of its products and supply chains.
“International companies now look beyond price and quality when deciding where to invest. They also consider resource efficiency, environmental risks and the credibility of local regulation. Countries and companies that can deliver credible green solutions will be better positioned to attract investment, maintain export markets and create high-quality and paid jobs,” he said.
Annan added that finance alone will not deliver the transition. Projects also need robust feasibility studies, realistic financial models, reliable environmental data, transparent governance and clear responsibility for implementation. Integrated solutions across water, waste and urban development will also be needed.
Thailand and Denmark are working together on circular economy and waste management projects through their Strategic Sector Cooperation programme, which aims to deliver environmental impact and make those projects more attractive to investors, he shared.
Climate returns hold up as growth slows
Thailand is facing its weakest economic growth in decades. This leaves the government with less fiscal room and investors with less certainty about returns, just as sustainable development needs grow more urgent.
However, Marlene Nilsson, Deputy Regional Director and Representative for Thailand at the United Nations Environment Programme (UNEP), said the financial returns of climate and nature-aligned investments remain resilient when supported by the right enabling conditions.
“The question is not how to find more money – it is how we make finance work differently. That requires governments to create the enabling conditions – clear and credible policy, regulatory stability, coherent incentives, sustainable finance taxonomies and pipelines for investable projects. It also requires financial institutions to integrate climate and nature risks into the decisions they make every single day – in credit, underwriting, investments and capital allocation,” she said in her keynote address.
Water security is an economic risk
Chow Wong Yuen, Head of Financial Institutions and Chief Sustainability Officer for UOB Thailand, said water security is central to Thailand’s economic resilience, with drought and flooding disrupting production and supply chains – putting jobs and investments at risk.
“Investment in water resilience needs clear, coordinated policy and a business case that reflects its full value. For projects such as water reuse and flood protection, that means counting the disruption and losses they help prevent, as well as the savings they deliver. We see our role as helping businesses identify practical priorities and connecting sound investment plans with the financing and partners to deliver them,” he said.
“At One Bangkok, we see sustainability and resilience as long-term investments that strengthen both business performance and urban liveability. By combining energy-efficient infrastructure, data and AI, we can improve operational efficiency, increasing bankability, anticipate risks and reduce carbon emissions. But scaling impact also requires the right financing mechanisms and stronger collaboration across government, business and finance to turn sustainability ambitions into practical, measurable outcomes,” Urasate Navanugraha, Chief Investment Officer for Frasers Property Thailand (One Bangkok), said.
Meanwhile, Singapore will take over the Asean chairmanship next year followed by Thailand in 2028, with both countries expected to use their terms to push for greater economic resilience and climate action across the region.
“This comes at a moment when the impacts of climate change on this region are only intensifying – in the floods Thailand has just lived through, in the water stress facing Asean and in the energy demands of a digital economy that is growing faster than almost anyone predicted. The conversations we have in rooms like this one, over the next two Asean chairmanships, will matter more than they ever have,” Meaghan See, Chief Commercial Officer for Eco-Business, said.
Unlocking capital for sustainability is hosted in six markets across Asia in 2026. In addition to Bangkok, the flagship forum was hosted in Jakarta in June, Kuala Lumpur in July, Manila in August and Singapore in September, and it will be hosted in Hong Kong in November.
Find out more about our Hong Kong forum here.
Notes to Editors:
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Mark Rao, Eco-Business
About Eco-Business
Established in 2009, Eco-Business is Asia Pacific’s leading business intelligence and advisory platform dedicated to advancing sustainable development. We produce trusted, high-quality multimedia content exploring the world’s most pressing challenges—and the solutions driving change. Our work is aligned with the 17 United Nations Sustainable Development Goals (SDGs) and supported by a 15-year archive of news, analysis, research, and events on sustainable development topics. Headquartered in Singapore, we have a presence in Manila, Kuala Lumpur, Jakarta, Bangkok, Hong Kong, Beijing, and London.
For more information, visit www.eco-business.com
UN Environment Programme Finance Initiative
UNEP Finance Initiative brings together a large network of banks, insurers and investors that collectively catalyses action across the financial system to deliver more sustainable global economies.
For more than 30 years the initiative has been connecting the UN with financial institutions from around the world to shape the sustainable finance agenda. We’ve established the world’s foremost sustainability frameworks that help the finance industry address global environmental, social and governance (ESG) challenges.
Convened by a Geneva, Switzerland-based secretariat, more than 500 banks and insurers with assets exceeding US$170 trillion work together to facilitate the implementation of UNEP FI’s Principles for Responsible Banking and Principles for Sustainable Insurance, as well as three UN-convened net-zero alliances. Financial institutions work with UNEP FI on a voluntary basis and we help them to apply the industry frameworks and develop practical guidance and tools to position their businesses for the transition to a sustainable and inclusive economy.
Founded in 1992, UNEP FI was the first organisation to engage the finance sector on sustainability and incubated the Principles for Responsible Investment, now the world’s leading proponent of responsible investment.
Today, we cultivate leadership and advance sustainable market practice while supporting the implementation of global programmes at a regional level across Africa & the Middle East, Asia Pacific, Europe, Latin America & the Caribbean and North America.
For more information, visit https://www.unepfi.org/
About UOB
United Overseas Bank Limited (UOB) is a leading bank in Asia with a global network of about 500 branches and offices in 19 countries and territories in Asia Pacific, Europe and North America. In Asia, we operate through our head office in Singapore and banking subsidiaries in China, Indonesia, Malaysia and Thailand, as well as branches and offices. We believe in being a responsible financial services provider and we are committed to making a difference in the communities in which we operate.
UOB provides a wide range of financial services globally through our three core business segments – Group Retail, Group Wholesale Banking and Group Global Markets. Our offering includes consumer banking, private banking, commercial banking, transaction banking, investment banking and treasury services. Through our subsidiaries, we also provide asset management, private equity fund management and insurance services among others.
RESOURCES:
Article: Transition Planning and Sustainable Finance are Key to Net Zero by Eric Lim, Chief Sustainability Officer, UOB
This article was first published in the Q3 2024 issue of the SID Directors Bulletin published by the Singapore Institute of Directors.
E-Brochure: UOB Sustainability-Linked Advisory, Grants & Enablers (SAGE) Programme
Video: Progress in Harmony
About One Bangkok
One Bangkok is the largest holistically integrated district in The Heart of Bangkok. With an investment value of THB 120 billion on a total land area of 108 rai (42.7 acres), One Bangkok has been developed to hold a place in the hearts of all and support Bangkok in becoming one of the world’s new influential global cities and thus the “Heart of Bangkok”. Located at the corner of Wireless and Rama 4 Roads with direct linkages to the city’s burgeoning mass transit systems, One Bangkok comprises workplaces which elevates work-life quality, a rhythmic retail experience, luxury residences, hotels with the finest hospitality, a world-class LIVE entertainment arena, the presence of art and culture, and a vast, welcoming public realm that covers 50 rai (19.7 acre) of the district.
As a well-equipped smart city with sustainable infrastructure, One Bangkok is the first project to be awarded with LEED for Neighbourhood Development Platinum certification in Thailand with an aim to achieve WELL Building Standard to support human health and wellness.
For more information about One Bangkok, please visit www.onebangkok.com.
About Unlocking capital for sustainability
Unlocking capital for sustainability is an annual flagship event organised by Eco-Business in partnership with UNEP FI that brings together high-level decision makers in finance, business, government and civic society to discuss and commit to actionable initiatives that mobilise the capital markets for sustainable development projects. Our full list of knowledge partners – past and present – can be found on our website: www.unlockingcapitalforsustainability.com
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