Deputy Prime Minister and Energy Minister Supattanapong Punmeechaow has allayed fears over non-tariff barriers on Thai exports which do not come from green manufacturing as the duties will encourage industries to adopt clean energy technology which promises long-term economic restoration.
Thailand cannot avoid entering the latest chapter of energy management as worries over climate change are growing, causing many countries to implement serious measures against industries that emit carbon dioxide.
The European Union plans to implement a Carbon Border Adjustment Mechanism, or CBAM, imposing charges on manufacturers that fail to adopt technology that benefits the world's climate.
"Thailand is among countries with high greenhouse gas emissions amounting to 450 million tonnes of carbon dioxide equivalent per year, so we must take action in order to be among leading countries in clean energy development," said Mr Supattanapong.
He was speaking at a seminar entitled "Mission Possible: Energy Transition to the Next 2050".
A shift to clean energy will help restore the Thai economy, battered by the impact of Covid-19, as it will give birth to energy innovations necessary for the development of a smart grid, peer-to-peer power trade platforms and the electric vehicle industry, said Mr Supattanapong.
Authorities have already revised up renewable energy targets in the Power Development Plan, permanent secretary for energy Kulit Sombatsiri told the seminar.
The proportion of renewable energy will increase to 50% of fuels used to produce electricity in the country within 2040, up from the previous 37% goal, he said.
Last year renewable energy made up 11% of total fuels used in the country.
SET-listed Siam Cement Group (SCG), Thailand's largest cement maker and industrial conglomerate, is aware of the need for greater care of the environment and aims to achieve a carbon neutrality target, a balance between carbon dioxide emissions and absorption, by 2050.
"We will not only focus on environmentally friendly petrochemical products but also other green products in packaging as well as cement and building material sectors," SCG president and chief executive Roongrote Rangsiyopash told the seminar.
He suggested the government develop a network of rail systems to better facilitate the transport of goods, mostly done via road transport at present, in order to save fuel, promote renewable energy and attract more investors interested in clean energy.