Bangkok, Thailand, July 3, 2024 – To support mobilizing private sector investment in Thailand’s greener future, the Department of Climate Change and Environment (DCCE), under the Ministry of Natural Resources and Environment (MONRE), collaborated with GGGI Thailand to host a capacity building workshop titled “Climate Finance Procedures to Unlock and Accelerate Private Sector Green Investments.”

The workshop equipped 30 government officials from relevant units within DCCE with the necessary knowledge and insights to advance climate finance procedures and techniques. This collaborative effort between DCCE and GGGI Thailand emphasizes shared commitment to fostering an inclusive green economy.

Through interactive sessions, participants gained a comprehensive understanding of climate finance instruments, project finance modalities, blended finance approach, and sustainable bonds and loans. Case studies explored successful project financing strategies at international, regional, and national levels. The Green Climate Fund (GCF) Concept Notes on advanced blended finance instruments to unlock private sector investments were presented and discussed. A highlight of the workshop was a panel discussion featuring Kasikornbank and Beacon Venture Capital. This session offered valuable private sector perspectives, fostering collaboration and bridging the gap for climate change partnerships in Thailand.

This workshop was under the ongoing Green Climate Fund (GCF) Readiness and Preparatory Support Project in Thailand. The project has supported in the development of Thailand’s Climate Finance Strategy (CFS) by assessing current and expected public and private financing from both domestic and international sources.

 “Thailand reached an Upper Middle-Income Country (UMIC) status in 2011 and have since turned the focus on sustaining its economic growth and low poverty rate, while at the same time achieving greater income equality and economic modernization,” Mr. Tero Raassina, Thailand Country Representative for GGGI said. “An inclusive green grown is a corner stone of Thailand 4.0. growth and the private sector driven green investments and innovations are necessary drivers to modernize the economy. New practical partnerships in the risk-sharing and blending to support catalytical early-stage investments are needed,’’ Mr. Tero Raassina, Thailand Country Representative for GGGI said. Ms. Nareerat Panmanee, the Director of Strategy and International Corporation Division, DCCE emphasized the aiming of the department on climate finance and stakeholder engagement saying that “Climate Finance Instruments benefit to create impact towards achieving the Nationally Determined Contributions (NDCs) which is a significant pathway to reach net-zero emission target.” ”There is a climate tech startup company reaching out to us and they need assistance on the financial resources to bring their climate solutions to life. We will closely collaborate with GGGI and other financial institutions on how to help them.”

A key project outcome was discussion of two GCF concept notes aimed at mobilizing investments in specific sub-sectors. These concept notes, titled “Thailand Circular Economy Financing Facility (T-CEFF): Blended Debt Financing Facility” and “Climate Tech Private Equity Trust: Empowering Thailand’s Green Innovators,” presented to the National Designated Authority (NDA) – the Department of Climate Change and Environment (DCCE) – for discussion, feedback, and validation. Following the workshop, GGGI Thailand will consolidate participant comments and utilize them to refine the concept notes, making them even more effective in mobilizing future investments.

Mr. Tero Raassina, Thailand Country Representative for GGGI

Participants shared ideas

A highlight of the workshop was a panel discussion featuring Kasikornbank and Beacon Venture Capital

Miss Nareerat Panmanee, the Director of Strategy and International Corporation Division, DCCE

GGGI, DCCE, Kasikornbank and Beacon Venture Capital