Guidelines for Reducing the Impact of Climate Change Through National Financial and Fiscal Measures

Abstract

Climate change directly affects the environment, ecosystems, economy,
and society, primarily driven by greenhouse gas emissions from the energy, industrial,
and agricultural sectors. These emissions contribute to global warming, seasonal variability, and increasingly severe natural disasters. Thailand has experienced significant impacts, including damage to public assets, reduced tax revenues, and increased fiscal burdens for recovery and relief efforts. To address this, the country has set primary goals of reducing emissions and enhancing climate adaptation, alongside secondary objectives such as developing a climate budget tagging system and promoting fiscal measures like carbon taxation and clean technology incentives. This paper proposes four key strategies: (1) developing Climate Budget Tagging, (2) fostering public-private partnerships, (3) reforming the tax structure to support green growth, and (4) implementing integrated budgeting. Additional recommendations include encouraging multi-sectoral participation, building human resource capacity, establishing ongoing monitoring and evaluation systems, and mobilizing international climate finance. These approaches aim to enhance Thailand’s climate resilience and ensure long-term national security in resources, economy, and society.