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GGGI successfully mobilized private investment for Thailand’s green growth projects

Bangkok, September 21, 2018 – Industries play important role to help Thailand achieve its greenhouse gas (GHG) reduction target under the Paris Agreement. Small and medium enterprises (SMEs), accounted for more than 2.5 million in number, contributing to 37% of Thailand’s gross domestic product (GDP) and providing over 10 million workforces nationwide, is one of the key contributors to help reducing greenhouse gas (GHG) emission in the country.

Since Thailand has committed to reduce GHG emissions by 20-25% within 2030, the industrial sector, especially SMEs, is expected to be a key contributor to the country’s GHG reduction. To assist Thailand to achieve its GHG reduction goal, GGGI has been working very closely with industries to develop bankable green projects and facilitate financial mobilization.

“We are very pleased that, as a result of our intervention, we could successfully mobilize private investment of USD 1.3-2 million for green project development with ample amount of energy savings and GHG reductions through working directly with industries. Also, through simplified energy service contract model, we could effectively secure another USD 20 million for Thailand’s green growth projects. This really demonstrates GGGI’s achievement in working closely with Thailand toward green growth” said Mr. Khan Ram-Indra, Thailand Country Representative, during a full-day workshop jointly hosted by GGGI, the Office of Natural Resources and Environmental Policy and Planning (ONEP), Thailand Greenhouse Gas Management Organization, and the United Nations Development Programme,

The workshop was well attended by more than 140 representatives from industries, government agencies, local municipalities, and relevant stakeholders. Factories, participating GGGI’s ongoing program aimed at supporting energy efficiency and renewable energy, was also brought for discussion and identifying common challenges in financial access in a bid to seek potential solutions to green growth development.

“The significance of this workshop is to understand the work of GGGI and partners and how public-private partnership could be well integrated. The city-industry collaboration will play a crucial role in supporting a reduction of GHG emissions under Thailand Nationally Determined Contribution roadmap on Mitigation 2021-2030,” said Dr. Phirun Saiyasitpanich, Director of Climate Change Management and Coordination Division, ONEP.

Dr. Phirun also said he hopes public-private cooperation would further contribute to innovative green growth development in Thailand in the long run.

About the Global Green Growth Institute (GGGI)

Based in Seoul, GGGI is an intergovernmental organization that supports developing country governments transition to a model of economic growth that is environmentally sustainable and socially inclusive. GGGI delivers programs in 27 partner countries, both member and non-member, with technical support, capacity building, policy planning & implementation, and by helping to build a pipeline of bankable green investment projects.
Presently, GGGI has 28 Member countries from developed, developing countries, including Small Island Developing States, from South America, Europe, Africa, and Asia and the Pacific regions.

To learn more about GGGI, see http://www.gggi.org and visit us on Facebook and Twitter.

For more information, contact: Mr. Khan Ram-Indra, Country Representative, GGGI, Tel: +66 (0)81 832 4225, Email: khan.ramindra@gggi.org