Carbon Tax and the Adjustment of Thai Industry

Countries around the world have always relied heavily on fossil fuels for their energy needs. Thailand has started looking to shift the focus of energy policy to create more energy efficiency and clean energy. With that being said, Thailand has set a price on carbon in a cost-effective way. With carbon tax laws in multiple countries, it will never be right from the start but with the necessary adjustments from the government, the policy environment becomes better. 

Carbon Tax and the Adjustment of Thai Industry

  1. The manufacturing sector will be pushed to apply more Carbon Footprint (CFP) labels or global warming labels, to represent the carbon assessment and help reduce global warming. Most of them are in cement, steel, and aluminum.
  2. There is a carbon tax in the industry. This will increase production costs. 
  3. Affects exports in the European market and other markets when using CBAM.
  4. They are affecting FDI capital. Foreign investors will take the issue of CO2 emissions into consideration for investment. 
  5. Financial institutions consider the amount of CO2 emissions as criteria for considering credit.

 

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