Climate change has shifted from being a subject of policy discussion to becoming central to the global economic system in recent years. What was once viewed merely as an environmental issue has now become a key determinant shaping trade, investment and national competitiveness, particularly as mechanisms such as the European Union's Carbon Border Adjustment Mechanism are in place.
This shift did not happen overnight. In Thailand, early groundwork was laid in 2021 with the establishment of the Thailand Carbon Markets Club (TCMC) under the leadership of Bangchak Group chief executive Chaiwat Kovavisarach, as part of efforts to prepare for emerging carbon-related trade measures such as the European Union's Carbon Border Adjustment Mechanism.
At a time when carbon markets were still largely viewed as voluntary mechanisms, the initiative focused on building early understanding and market readiness.
Carbon-related issues, notably greenhouse gas emission management through carbon markets, have become a decisive factor shaping the economic and environmental policy directions of Thailand and Southeast Asian nations.
"Carbon markets are no longer a distant policy concept. They are rapidly becoming a new form of economic infrastructure," said Gloyta Nathalang, chair of Thailand Carbon Markets Club and Bangchak Corporation's senior executive vice-president for sustainability management and corporate communications.
