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Thailand risks double-digit GDP contraction by 2050: WB

11 Sept 00:38 Key points summarised by AI

The World Bank warns Thailand's GDP could contract by 7-14% by 2050 if it fails to effectively mitigate climate change, despite doubling its investment to over 279.5 billion baht.
Thailand utilizes less than 1% of its international public climate finance, and domestic mitigation funding disproportionately focuses on transport, energy, and water, often neglecting vulnerable groups and relying on conventional infrastructure.
Despite ranking 17th globally in climate risk, Thailand's adaptation readiness ranks a low 123rd; the World Bank recommends a US$220 billion investment over 25 years, prioritizing both mitigation and adaptation efforts.
The Bank of Thailand is implementing a national transition plan, including a 'Thailand taxonomy' to classify sustainable economic activities and tools for SMEs, aiming to incentivize green funding and align with global climate finance goals.

Yesterday 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.