Thailand’s Excise Department is planning to impose a carbon tax on three sectors, namely energy, transport and industry, to encourage companies to use cleaner or renewable energy, reduce CO2 emissions by up to 30% and cut the cost of imported fuel. This new scheme is meant to help the country achieve carbon neutrality by 2050 and net zero greenhouse gas emissions by 2063. Thailand’s Excise Department has not yet provided more details regarding the new carbon tax, however, a study is currently underway and is expected to be completed by the end of 2023.
Thailand’s Climate Change Management and Coordination Division also said that the new carbon tax and carbon-credit trading measures should be included in the country’s Climate Change Act, including action plans for reducing CO2 emissions in the energy, transport and industrial sectors.
According to Thailand’s Finance Ministry, the energy sector accounts for 35% of CO2 emissions in Thailand, while the transport sector accounts for 32% of emissions and the industrial sector 27%.
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